Rolling Stock PBM

Game: 3 (full) – Turn: 7 – Phase: 4 (determine new player order)

(players in player order)

name	cash	value	companies
Dirk	$19	$71	NS[21]	–	–	–	–	–	*1	–	–	–	–
Richard	$13	$65	RENFE[32]	–	–	–	–	–	–	*1	–	–	–
Björn	$5	$71	–	*3	–	–	–	–	–	–	–	–	–
Ocki	$4	$55	BR[33]	–	–	*1	–	–	–	–	–	–	–
Georg	$3	$59	–	–	*2	–	–	–	–	–	–	–	–
			Shares owned by bank	4	0	2	–	–	1	4	–	–	–
			Shares issued in total	7	2	3	–	–	2	5	–	–	–
			Share price	$22	$28	$18	–	–	$31	$20	–	–	–
			Treasury	$31	$12	$0	–	–	$32	$55	–	–	–
			Income	+$31	+$12	+$12	–	–	+$12	+$12	–	–	–
			Book value	$139	$61	$54	–	–	$62	$117	–	–	–
			Market capitalization	$154	$56	$54	–	–	$62	$100	–	–	–

Available for auctions:
- FS[37] ($19–$51) +$10
  - +$4: SNCF[24] KK[25] SBB[26]
- BSR[40] ($20–$54) +$10
  - +$4: DSB[20] PKP[23] DR[29] SJ[30] HH[48]
- HA[47] ($24–$69) +$15
  - +$4: NS[21] B[22] SNCF[24] E[43]
  - +$8: RU[85] AL[86]
- FR[60] ($30–$84) +$15
  - +$8: MAD[45] LHR[54] CDG[56] FRA[58]
Drawn but not available for auctions:
- LHR[54] ($27–$77) +$15
  - +$4: BR[33] E[43]
  - +$8: FR[60] MM[75] VP[80] LE[90]
In the deck: game end card
Cost of ownership: -$3 -$3
Closed companies: –

Treasury: $22
Income: +$11
Companies:
- 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]

(in share price order)

President: Björn
Share price: $22 (max payout per share: $7) — 7 shares issued
Treasury: $31
Income: +$31 (base income: +$31 — synergy bonus: +$18 — cost of ownership: -$18)
Book value: $139 — market capitalization: $154
Needs at least $168 book value (-$29) for target share price $26 ("double jump").
Needs at least $154 book value (-$15) for target share price $24 ("single jump").
Needs at least $140 book value (-$1) for target share price $20 ("single drop").
Otherwise, target share price is $18 ("double drop").
Companies:
- BSE[2] ($1–$3) +$1
  - +$1: BPM[7] SX[16] MS[17] PR[19]
- AKE[6] ($3–$8) +$2
  - +$1: BPM[7] MHE[8] OL[14] MS[17] PR[19]
- BPM[7] ($4–$9) +$2
  - +$1: BSE[2] AKE[6] MHE[8] SX[16] MS[17] PR[19]
- MHE[8] ($4–$10) +$2
  - +$1: KME[5] AKE[6] BPM[7] OL[14] SX[16] MS[17] PR[19]
- OL[14] ($7–$18) +$3
  - +$1: KME[5] AKE[6] MHE[8]
  - +$2: MS[17] PR[19] DSB[20] NS[21] DR[29]
- MS[17] ($9–$21) +$3
  - +$1: BSE[2] AKE[6] BPM[7] MHE[8]
  - +$2: OL[14] SX[16] PR[19] DSB[20] PKP[23] DR[29]
- 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]

President: Richard
Share price: $20 (max payout per share: $6) — 5 shares issued
Treasury: $55
Income: +$12 (base income: +$15 — synergy bonus: +$9 — cost of ownership: -$12)
Book value: $117 — market capitalization: $100
Needs at least $110 book value (+$7) for target share price $24 ("double jump").
Needs at least $100 book value (+$17) for target share price $22 ("single jump").
Needs at least $90 book value (+$27) for target share price $18 ("single drop").
Otherwise, target share price is $16 ("double drop").
Companies:
- BME[1] ($1–$2) +$1
  - +$1: KME[5] BD[12] HE[15] PR[19]
- KME[5] ($3–$7) +$2
  - +$1: BME[1] MHE[8] OL[14] HE[15] PR[19]
- HE[15] ($8–$19) +$3
  - +$1: BME[1] KME[5]
  - +$2: BD[12] BY[13] PR[19] DR[29]
- PR[19] ($10–$24) +$3
  - +$1: BME[1] BSE[2] KME[5] AKE[6] BPM[7] MHE[8]
  - +$2: OL[14] HE[15] SX[16] MS[17] DSB[20] NS[21] B[22] PKP[23] DR[29]
- B[22] ($11–$28) +$6
  - +$2: PR[19]
  - +$4: NS[21] SNCF[24] DR[29] E[43] HA[47] HR[49]

Dirk:
- NS[21] ($11–$27) +$6
  - +$2: OL[14] PR[19]
  - +$4: B[22] DR[29] E[43] HA[47] HR[49]
Richard:
- RENFE[32] ($16–$45) +$12
  - +$4: SNCF[24] MAD[45]
Björn: –
Ocki:
- BR[33] ($17–$46) +$12
  - +$4: E[43] LHR[54]
Georg: –