Monday, April 25, 2011

Proposal: Board meeting, take 2

Times out and Fails 2-9. ~lilomar

Adminned at 27 Apr 2011 08:38:26 UTC

Add a new dynastic rule entitled “Shareholders”, as follows:

An Investor who holds shares of any given Corporation may be referred to as a Shareholder of that Corporation.  The GNDT tracks how many Shares of each Corporation are held by each Shareholder.

The term “Record Date Information” means, with respect to a given Corporation that has a pending Board Meeting Post, the number of outstanding Shares of that Corporation held by the Market and by each of its Shareholders as of the time that the Board Meeting Post in question was posted, as stated in that Board Meeting Post.

Add a dynastic rule entitled “Board Meetings”, with text as follows:

At any time when any Shares of a given Corporation are held by one or more Investors other than the Market, and so long as no Board Meeting Post is then pending for that Corporation, a Shareholder of that Corporation may make a blog post (a “Board Meeting Post”).  A Board Meeting Post must have a title that begins: “X -  Board Meeting” (or reasonably similar syntax) where X is the name of the Corporation in question.  A Board Meeting Post must also accurately state the Record Date Information of that Corporation as of the time that the Board Meeting Post is made.  A Board Meeting Post is a suggestion to make changes in the gamestate respecting the Corporation in question, so long as the gamestate changes are an Eligible Board Matter.  A Board Meeting Post should be stickied for so long as it is pending.  A Board Meeting Post becomes pending when it is made, and ceases to be pending when it is enacted or failed.

For purposes of determining eligibility to vote on a Board Meeting Post or for tabulating votes on a Board Meeting Post, the Record Date Information as set forth in the Board Meeting Post is deemed conclusive (notwithstanding changes in ownership of Shares that may occur after the Board Meeting Post is made). 

Subject to this rule, an Investor who is eligible to vote on a Board Meeting Post votes by commenting on the Board Meeting Post as if the Board Meeting Post were a Proposal.

Only Shareholders of the Corporation in question (including the Market, if the Market holds Shares of that Corporation) may cast votes on a Board Meeting Post.  A Board Meeting Post may be enacted by any Investor if it has FOR Votes cast by eligible Shareholders (or the Market) who collectively hold a majority of the outstanding Shares of that Corporation.  To enact a Board Meeting Post that is eligible to be enacted, an Investor shall make the gamestate changes specified in the Board Meeting Post, post a comment explaining the vote and the enactment (e.g., enacted with 55% of outstanding Shares voted in favor) and unsticky it.  A Board Meeting Post may be failed by any Investor if it has AGAINST Votes cast by eligible Shareholders (or the Market) who collectively hold a majority of the outstanding Shares of that Corporation, or if it has been pending for at least 48 hours without having garnered enough votes to enact or fail it, or if either the Market or the Chairman of that Corporation has voted to VETO it.  To fail a Board Meeting Post that is eligible to be failed, an Investor shall unsticky it and post a comment explaining that it has been failed.

Eligible Board Matters include:
- Electing an Investor as the Chairman of that Corporation (or replacing or removing the incumbent Chairman)
- Approving a particular Merger Agreement to which that Corporation is to be a party
- Approving the declaration and payment of a Dividend
- Changing the Corporation’s Business Plan
- Approving a Liquidation of that Corporation

 

 

Comments

Ely:

04-25-2011 18:52:47 UTC

for

Subrincinator:

04-25-2011 20:21:40 UTC

imperial tl,dr

Bucky:

04-25-2011 20:46:33 UTC

imperial

Winner:

04-25-2011 22:28:56 UTC

against I don’t like the direction this will put the game into.

Darknight: HE/HIM

04-25-2011 23:06:09 UTC

imperial

Oze:

04-26-2011 00:30:36 UTC

against

Travis:

04-26-2011 00:59:49 UTC

imperial

lilomar:

04-26-2011 01:06:17 UTC

against Rather hard to comprehend. Possibly abstract out some of the concepts into separate rules/sub-rules?

If I have to keep reading back up to remind my self how a mechanic works before I get to the end of that mechanic, I don’t want to try to use it, or to police it for scams.

spikebrennan:

04-26-2011 02:02:06 UTC

The whole point of buying stock is to take over the company, or to benefit economically from the possibility that someone else will do so (or try to do so).  If you don’t have takeover contests, you might as well not try to buy stock at all.

Purplebeard:

04-26-2011 07:04:54 UTC

against It could use a bit of simplifying, as lilomar said, and the adminning should be left to the admins, because it involves editing posts.

Roujo:

04-27-2011 12:04:41 UTC

imperial

spikebrennan:

04-27-2011 12:18:35 UTC

Again- post suggestions to simplify