"Issum"

[Supplement Four]

I posted this in another thread, but the idea is kinda neat. I thought it deserved it's own space.

Copied from a part of my post in a different thread:

An interesting idea for Traveller (something I'd expect to see in a magazine article) would be the description of a "market" that exists for Ship Owners.

Shares in vessels would be traded like stocks into today's real world market. Value would move up and down. Ship payments would be used to pay dividends to share holders. Share holders would be unseen multiple people on various worlds.

There's always a question about how a character is supposed to come up with the 10% down payment to buy this multi-million-credit vessels in the first place. The answer to that could be--the ISSM (Imperial Ship Shares Market).

"Hey, what's the 'issum' doing today? Is it up or down?"

Characters could even dabble in the market with their extra funds.

Large shipping lines, like Tukera, would be your steady growth shares. They'd be expensive, but, like T-Bills or a CD, they're almost guarranteed to pay you a small profit over a period of time. These would be akin to "grade A" stocks.

This would be a good way for a GM to tie up some extra money the players have made from speculative trade and such. The players can't touch the money for, like, a game year, or they pay a healthy penalty. But, if they leave it in, they'll get a small percentage return on their money.

A campaign goal could be to garner enough profit from speculative trade to buy enough of these types of shares in the ISSM market so that the dividend pays the ship's annual overhaul every year.

Investment in shares for the one-off tramp freighters (player-style vessels) would be quite risky. These would be akin to junk bonds or penny stocks. But, if you hit with one of them, your return is likely to be astronomical--big return on a small investment.

Like the lottery, people on several worlds in the subsector would invest in these things since they're cheap. They're likely to lose money, but the investment is small. And, if you hit--you hit big.

All sorts of interesting angles come to the GM's fingertips with this. If the players decide not to pay their ship payment (which is used to pay dividends and returns on shares in the ISSM), then the GM can have agents from a government enforcement agency come after them (kinda the FBI meets the SEC).

How about that for an idea to "grow" the Traveller universe.

A word of caution. If you use this idea in your game, keep it simple. See how simple ship payments are in CT? In the real world, they'd be a lot more messy. Keep it fairly simple and easy to keep track of.

The ISSM market should be a simple mechanic to add to the game too.

Whaddya think? I think it's neat.

 

[BillDowns]

Good idea, S4. I think you might need a new skill to cover ISSM brokering.

You might also consider having the Market (Exchange) only on large pop worlds with Class A starports.

 

[Jacqual]

That would really explain the Subsidized Trader's as an example.

 

[BlackBat242]

That would really explain the Subsidized Trader's as an example.

Traders (as you used it) is a plural word, not possessive, therefore there should be no apostrophe... "Subsidized Traders" would be the correct usage.

The apostrophe only is used to show that you are talking about something that belongs or pertains to the Subsidized Trader... "the Subsidized Trader's repairs were complete".

 

[Spinward Scout]

How would they track this over Jump distances, tho?
X-boat?

What happens if the Captain skips out and runs off with the ship?

What happens if someone wants to sell their share?

This doesn't seem too different from some ships that give the crew shares, but those usually don't expect the crew to provide funding.

Very interesting concept, S4.

 

[Supplement Four]

How would they track this over Jump distances, tho?
X-boat?

Yep. X-Boat. Like everything else.

We assume that banking records are transferred that way, yes? The Imperial economy depends on it. So, the Issum would use the same system.

I do remember an article in JTAS, btw, that covere the stock market in Traveller. I just might have to pull that out and see how they worked it.

What happens if the Captain skips out and runs off with the ship?

That's why I mentioned the FBI-meets-SEC organization in the OP.

What happens if someone wants to sell their share?

I mentioned that in the OP too. Some shares would have penalites associated with them if sold too early (not unlike some real life IPOs). Others would be sold easily--maybe at the "market" at the nearest Class A starport.

This doesn't seem too different from some ships that give the crew shares, but those usually don't expect the crew to provide funding.

I think its quite different than that. Ownership of the vessel would be the stock holders. When the crew plays its ship payment, this money is forked out to the share holders as a dividend. I'm sure a bank or some other financial entity could oversee the process as a Trustee does with a Trust.

Very interesting concept, S4.

Thanks!

 

[mbrinkhues]

I like the concept, sounds like a mix between the "Hanse" and the "East-India Company".

In the Hanse some wealthy "Pfeffersäcke" (Hanse Traders) came together and financed a ship and cargo. After the voyage the split the money gained (or the losses that occured) along their ownership percentages. Ownerships could be sold (to other Hanse Members) and (at a certain discount) used as backing for a bill of exchange.

The East India company sold more general shares in the companies fleets, similar to modern bonds. Many owners did not buy them because the value got up but because they paid a nice yearly benefit. The german name for this type of papers is Renten (that also translates to Retirement Benefits) and they where often used as a retirement fund back in the times when officers bought and sold their ranks. (After cross-reading the Wiki Entry on the East India Company that thing screams Oberlindes or Tukera)

Ship shares also had a secondary meaning back then. Officers and crew where allowed to use some of the cargo space for their own goods. So the bought "known precious" cargo at the target port (spices i.e) and sold them back home. Many East India Captain could retire on the profit of 3-5 voyages

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Using that with the big lines you would by shares worth 1000 oder 5000Cr each and they would pay a yearly return of (as an example) 0-10 percent (2W6-2) and that's it, no further effects on gaming. I'd even allow players to invest some of the "mustering out money" they roll up in such a company. This model also works for Subbies, replacing the government as a sponsor with the cooperation (Own army / navy optional)

Shares in smaller ships would be more personal and likely the realm of wealth investors trying to prop up a small line or as part of a greater project (developing a system etc) The number of investors is small and they will likely aim for a higher (and potentially short term) profit. This is something players MIGHT undertake after they have a big windfall and don't want to stop the game.

Cargo shares would fit in with Players that are crew on a subbi or for one of the big corps, say crew on a Tukkera Frighter.