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Eliminating Junk Companies
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Jack Park RJ: Jack Park CO: Cicero Post Rating: 4 + / - Total Posts: 19 Karma: 26 Joined: Apr 15, 2012 |
Posted on Apr 21, 2012 So while I was browesing the stockmarket I have noticed that there are many companies with <b>NO<b/> assets to speak of what so ever. I propose a simple solution. A company with little or no assets, should be eliminated. This will help clean up the stockmarket in the wake of numerous recent frauds. The stocks held by anyone in these comapnies should just be liquidated at current market prices, as they are worthless already and those who own them wouldn't be able to make any more money off of it. Also the money coming from the sale of any remaning stocks at market prices should be given out independent of any lawsuits or criminal investigations, because the vvalue of the stock would already have been greatly reduced by the point a company is liquidated and taken off the market. Lastly the company should simply be sold and the money given to the investors at a percentage of the stock they owned. |
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Brent Goode RJ: BB Goode CO: BB Goode Post Rating: 1 + / - Total Posts: 506 Karma: 180 Joined: Apr 5, 2012 |
Posted on Apr 21, 2012 I like this.You can't even get listed on exchanges in the RW without minimum assets and annual revenue numbers. |
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Jack Park RJ: Jack Park CO: Cicero Post Rating: 0 + / - Total Posts: 19 Karma: 26 Joined: Apr 15, 2012 |
Posted on Apr 21, 2012 Yeah and if you liguidated the company, which is essentially what many of the fraudsters are doing, then it would be taken off the exchange. So if this is how it is done in the RW, why not here? It's not like we need to invent new anti-fraud meseures, Real World governments have already invented them for us, we just need to copy paste a few into the game.
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Cian Kemp RJ: Cian Kemp CO: Cian Kemp Post Rating: 0 + / - Total Posts: 183 Karma: 58 Joined: Apr 9, 2012 |
Posted on Apr 21, 2012 The main problem is that you can dump money into a company, borrow 50% on top of that, then transfer all of that money to another company and do it again. Loans should be calculated on the company's net worth without cash, and done at the time of the loan - not based on the last assessment.It could tally up the value of all your buildings and your research - and use that number for your maximum loan. This change by itself would solve the exploit. A bank wouldn't loan a company that has tons of money and no income or assets or business plan anyway. This way loans would be used for their intended purpose - getting extra money to expand factories, buy stock to sell in your stores, or fund research in your research buildings. |
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Scott (Admin) RJ: Ratan Joyce CO: Ratan Joyce Post Rating: 2 + / - Total Posts: 1175 Karma: 5083 Joined: Jan 13, 2012 |
Posted on Apr 21, 2012 They will be eliminated after I add a debt collector function to place their loans on the players. But then again, repeatedly transferring $ over the B2B from public companies is outright cheating and deserves a hefty jail sentence.
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Brent Goode RJ: BB Goode CO: BB Goode Post Rating: 1 + / - Total Posts: 506 Karma: 180 Joined: Apr 5, 2012 |
Posted on Apr 21, 2012 "But then again, repeatedly transferring $ over the B2B from public companies is outright cheating and deserves a hefty jail sentence."Woohoo! Ratan Joyce for president! Oh...wait...right... |
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Jayle Trigger RJ: Berry Punch CO: Applejack Post Rating: 0 + / - Total Posts: 93 Karma: 85 Joined: Apr 9, 2012 |
Posted on Apr 21, 2012 Do you add a hefty fine to that jail sentence?
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Zack WenJian RJ: Zack CO: Zack Post Rating: 0 + / - Total Posts: 114 Karma: 503 Joined: Mar 31, 2012 |
Posted on Apr 22, 2012 They will be eliminated after I add a debt collector function to place their loans on the players.do not quite understand what this means. but ain't public company limited liability, which make shareholders not liable to debt incurred by the company, only their share price will plunge. |
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Jack Park RJ: Jack Park CO: Cicero Post Rating: 0 + / - Total Posts: 19 Karma: 26 Joined: Apr 15, 2012 |
Posted on Apr 22, 2012 True, but what I think he means is that the loans will be placed on the players who commited fraud. If you were ligitimatly failing as a company then your player would not inherit the debt.
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