Rolling Stock PBM

Game: 3 (full) – Turn: 10 – Phase: 7 (close companies)

(players in player order)

name	cash	value	companies
Richard	$109	$137	–	–	–	–	–	–	–	*1	–	–	–
Georg	$93	$117	–	–	*1	–	–	–	–	–	–	–	–
Dirk	$11	$127	RCC[71]	–	–	–	–	–	*1	–	–	–	–
Ocki	$4	$100	OPC[70]	–	–	*1	–	–	–	–	–	–	–
Björn	$67	$125	–	*1	–	–	–	*2	–	–	–	–	–
			Shares owned by bank	6	4	3	–	4	3	5	–	–	–
			Shares issued in total	7	5	4	–	6	4	6	–	–	–
			Share price	$18	$24	$26	–	$20	$45	$28	–	–	–
			Treasury	$3	$0	$12	–	$11	$47	$11	–	–	–
			Income	+$2	+$5	-$2	–	+$30	+$21	+$17	–	–	–
			Book value	$57	$122	$70	–	$110	$186	$149	–	–	–
			Market capitalization	$126	$120	$104	–	$120	$180	$168	–	–	–

Available for auctions:
- MM[75] ($38–$112) +$25
  - +$8: LHR[54] FRA[58]
  - +$16: LE[90] TSI[100]
- RU[85] ($43–$123) +$25
  - +$8: HA[47] HH[48] HR[49]
  - +$16: OPC[70] RCC[71] TSI[100]
- AL[86] ($43–$124) +$25
  - +$8: HA[47] HH[48] HR[49]
  - +$16: OPC[70] RCC[71] TSI[100]
- TSI[100] ($50–$140) +$25
  - +$16: OPC[70] RCC[71] MM[75] VP[80] RU[85] AL[86] LE[90]
Drawn but not available for auctions: –
In the deck: game end card
Cost of ownership: -$10 -$10 -$10 -$10
Closed companies: BME[1] BSE[2] KME[5] AKE[6] BPM[7] MHE[8] BY[13] OL[14] HE[15] SX[16] MS[17] PR[19]

(in share price order)

President: Dirk
Share price: $45 (max payout per share: $15) — 4 shares issued
Treasury: $47
Income: +$21 (base income: +$43 — synergy bonus: +$8 — cost of ownership: -$30)
Book value: $186 — market capitalization: $180
Needs at least $200 book value (-$14) for target share price $55 ("double jump").
Needs at least $180 book value (+$6) for target share price $50 ("single jump").
Needs at least $164 book value (+$22) for target share price $41 ("single drop").
Otherwise, target share price is $37 ("double drop").
Companies:
- NS[21] ($11–$27) +$6
  - +$2: OL[14] PR[19]
  - +$4: B[22] DR[29] E[43] HA[47] HR[49]
- SJ[30] ($15–$42) +$12
  - +$4: BSR[40]
- BSR[40] ($20–$54) +$10
  - +$4: DSB[20] PKP[23] DR[29] SJ[30] HH[48]
- HH[48] ($24–$70) +$15
  - +$4: DSB[20] PKP[23] DR[29] BSR[40]
  - +$8: RU[85] AL[86]

President: Richard
Share price: $28 (max payout per share: $9) — 6 shares issued
Treasury: $11
Income: +$17 (base income: +$43 — synergy bonus: +$4 — cost of ownership: -$30)
Book value: $149 — market capitalization: $168
Needs at least $186 book value (-$37) for target share price $34 ("double jump").
Needs at least $168 book value (-$19) for target share price $31 ("single jump").
Needs at least $156 book value (-$7) for target share price $26 ("single drop").
Otherwise, target share price is $24 ("double drop").
Companies:
- B[22] ($11–$28) +$6
  - +$2: PR[19]
  - +$4: NS[21] SNCF[24] DR[29] E[43] HA[47] HR[49]
- RENFE[32] ($16–$45) +$12
  - +$4: SNCF[24] MAD[45]
- FS[37] ($19–$51) +$10
  - +$4: SNCF[24] KK[25] SBB[26]
- HA[47] ($24–$69) +$15
  - +$4: NS[21] B[22] SNCF[24] E[43]
  - +$8: RU[85] AL[86]

President: Ocki
Share price: $26 (max payout per share: $8) — 4 shares issued
Treasury: $12
Income: -$2 (base income: +$18 — synergy bonus: +$0 — cost of ownership: -$20)
Book value: $70 — market capitalization: $104
Needs at least $112 book value (-$42) for target share price $31 ("double jump").
Needs at least $104 book value (-$34) for target share price $28 ("single jump").
Needs at least $96 book value (-$26) for target share price $24 ("single drop").
Otherwise, target share price is $22 ("double drop").
Companies:
- KK[25] ($13–$32) +$6
  - +$2: BY[13] SX[16]
  - +$4: PKP[23] SBB[26] DR[29] FS[37] FRA[58]
- BR[33] ($17–$46) +$12
  - +$4: E[43] LHR[54]

President: Georg
Share price: $24 (max payout per share: $8) — 5 shares issued
Treasury: $0
Income: +$5 (base income: +$33 — synergy bonus: +$12 — cost of ownership: -$40)
Book value: $122 — market capitalization: $120
Needs at least $130 book value (-$8) for target share price $28 ("double jump").
Needs at least $120 book value (+$2) for target share price $26 ("single jump").
Needs at least $110 book value (+$12) for target share price $22 ("single drop").
Otherwise, target share price is $20 ("double drop").
Companies:
- WT[11] ($6–$14) +$3
  - +$2: BD[12] BY[13] SBB[26] DR[29]
- BD[12] ($6–$15) +$3
  - +$1: BME[1]
  - +$2: WT[11] HE[15] SNCF[24] SBB[26] DR[29]
- SNCF[24] ($12–$30) +$6
  - +$2: BD[12]
  - +$4: B[22] SBB[26] DR[29] RENFE[32] FS[37] E[43] HA[47] CDG[56]
- SBB[26] ($13–$33) +$6
  - +$2: WT[11] BD[12]
  - +$4: SNCF[24] KK[25] DR[29] FS[37] CDG[56] FRA[58]
- HR[49] ($25–$71) +$15
  - +$4: NS[21] B[22] DR[29] E[43]
  - +$8: RU[85] AL[86]

President: Björn
Share price: $20 (max payout per share: $6) — 6 shares issued
Treasury: $11
Income: +$30 (base income: +$30 — synergy bonus: +$0 — cost of ownership: +$0)
Book value: $110 — market capitalization: $120
Needs at least $132 book value (-$22) for target share price $24 ("double jump").
Needs at least $120 book value (-$10) for target share price $22 ("single jump").
Needs at least $108 book value (+$2) for target share price $18 ("single drop").
Otherwise, target share price is $16 ("double drop").
Companies:
- MAD[45] ($23–$67) +$15
  - +$4: RENFE[32]
  - +$8: FR[60] VP[80] LE[90]
- LHR[54] ($27–$77) +$15
  - +$4: BR[33] E[43]
  - +$8: FR[60] MM[75] VP[80] LE[90]

President: Björn
Share price: $18 (max payout per share: $6) — 7 shares issued
Treasury: $3
Income: +$2 (base income: +$18 — synergy bonus: +$4 — cost of ownership: -$20)
Book value: $57 — market capitalization: $126
Needs at least $140 book value (-$83) for target share price $22 ("double jump").
Needs at least $126 book value (-$69) for target share price $20 ("single jump").
Needs at least $112 book value (-$55) for target share price $16 ("single drop").
Otherwise, target share price is $15 ("double drop").
Companies:
- PKP[23] ($12–$29) +$6
  - +$2: SX[16] MS[17] PR[19]
  - +$4: KK[25] DR[29] SŽD[31] BSR[40] HH[48] FRA[58]
- SŽD[31] ($16–$43) +$12
  - +$4: PKP[23]