Rolling Stock PBM

Game: 3 (full) – Turn: 13 – Phase: 3 (share trading and auctions)

(players in player order)

name	cash	value	companies
Dirk	$9	$260	–	–	1	–	–	–	*1	–	–	*3	–
Georg	$3	$169	RU[85]	–	*1	–	–	–	–	–	–	1	–
Richard	$20	$197	MM[75]	–	–	–	–	–	–	*3	–	–	–
Björn	$6	$140	–	*2	–	–	–	*5	–	–	–	–	–
Ocki	$3	$167	OPC[70]	–	–	*1	–	2	–	1	–	–	–
			Shares owned by bank	8	6	5	–	0	5	5	–	0	–
			Shares issued in total	10	8	6	–	7	6	9	–	4	–
			Share price	$7	$26	$12	–	$24	$60	$34	–	$55	–
			Treasury	$20	$83	$13	–	$85	$153	$136	–	$94	–
			Income	+$2	+$5	-$2	–	+$30	+$46	+$17	–	+$25	–
			Book value	$74	$205	$71	–	$184	$363	$274	–	$180	–
			Market capitalization	$70	$208	$72	–	$168	$360	$306	–	$220	–

Available for auctions:
- 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: $60 (max payout per share: $20) — 6 shares issued
Treasury: $153
Income: +$46 (base income: +$68 — synergy bonus: +$8 — cost of ownership: -$30)
Book value: $363 — market capitalization: $360
Needs at least $396 book value (-$33) for target share price $73 ("double jump").
Needs at least $360 book value (+$3) for target share price $66 ("single jump").
Needs at least $330 book value (+$33) for target share price $55 ("single drop").
Otherwise, target share price is $50 ("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]
- RCC[71] ($36–$108) +$25
  - +$16: RU[85] AL[86] TSI[100]

President: Dirk
Share price: $55 (max payout per share: $18) — 4 shares issued
Treasury: $94
Income: +$25 (base income: +$25 — synergy bonus: +$0 — cost of ownership: +$0)
Book value: $180 — market capitalization: $220
Needs at least $240 book value (-$60) for target share price $66 ("double jump").
Needs at least $220 book value (-$40) for target share price $60 ("single jump").
Needs at least $200 book value (-$20) for target share price $50 ("single drop").
Otherwise, target share price is $45 ("double drop").
Companies:
- AL[86] ($43–$124) +$25
  - +$8: HA[47] HH[48] HR[49]
  - +$16: OPC[70] RCC[71] TSI[100]

President: Richard
Share price: $34 (max payout per share: $11) — 9 shares issued
Treasury: $136
Income: +$17 (base income: +$43 — synergy bonus: +$4 — cost of ownership: -$30)
Book value: $274 — market capitalization: $306
Needs at least $333 book value (-$59) for target share price $41 ("double jump").
Needs at least $306 book value (-$32) for target share price $37 ("single jump").
Needs at least $279 book value (-$5) for target share price $31 ("single drop").
Otherwise, target share price is $28 ("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: Georg
Share price: $26 (max payout per share: $8) — 8 shares issued
Treasury: $83
Income: +$5 (base income: +$33 — synergy bonus: +$12 — cost of ownership: -$40)
Book value: $205 — market capitalization: $208
Needs at least $224 book value (-$19) for target share price $31 ("double jump").
Needs at least $208 book value (-$3) for target share price $28 ("single jump").
Needs at least $192 book value (+$13) for target share price $24 ("single drop").
Otherwise, target share price is $22 ("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: $24 (max payout per share: $8) — 7 shares issued
Treasury: $85
Income: +$30 (base income: +$30 — synergy bonus: +$0 — cost of ownership: +$0)
Book value: $184 — market capitalization: $168
Needs at least $182 book value (+$2) for target share price $28 ("double jump").
Needs at least $168 book value (+$16) for target share price $26 ("single jump").
Needs at least $154 book value (+$30) for target share price $22 ("single drop").
Otherwise, target share price is $20 ("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]

Dirk: –
Georg:
- RU[85] ($43–$123) +$25
  - +$8: HA[47] HH[48] HR[49]
  - +$16: OPC[70] RCC[71] TSI[100]
Richard:
- MM[75] ($38–$112) +$25
  - +$8: LHR[54] FRA[58]
  - +$16: LE[90] TSI[100]
Björn: –
Ocki:
- OPC[70] ($35–$107) +$25
  - +$16: RU[85] AL[86] TSI[100]