Just got the newsletter announcement. Will post
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Customers,
June 8, 2020 - First, on behalf of M.T.H. Electric Trains, I want to thank you for the support and encouragement you have shown my company over our 40-year journey. From humble beginnings and a lot of hard work, we were able to build one of the world's largest model train manufacturers - one unquestionably buoyed by your unwavering support.
In particular, I am proud that M.T.H. has released more models than any train manufacturer in the history of our hobby. The variety, quality, and infusion of technology throughout our offerings allowed M.T.H. Electric Trains to help bring enjoyment to all who share our wonderful hobby.
It is, therefore, with mixed emotions that I tell you I have decided to retire in 2021 and close the business. The last two M.T.H. catalogs, our 2020 Volume 2 O Gauge catalog, and our 2020 HO catalog and all non-delivered items from our 2020 Volume 1 O Gauge catalog, 2020 Ready-to-Run Train Set catalog, 2019-2020 S Gauge catalog, and 2019-2020 G Gauge catalog will feature the last products produced by M.T.H. Electric Trains.
The new items featured in all these catalogs will be available beginning Summer 2020 through April 2021 and will carry our limited one-year warranty supported by our Authorized Service Center network and the M.T.H. Service Department. Upon our closing in May 2021, our ASC network will provide warranty coverage through April 2022. A list of M.T.H. Authorized Service Centers is available on the M.T.H. website and will be updated as M.T.H. Authorized Retailers join the program over the coming months.
M.T.H. Electric Trains would not have enjoyed success without the support of the M.T.H. Authorized Retailer network. While traditional retail has changed significantly over the past decade, the independent hobby shop has been and continues to be the most important cog in our distribution chain. I truly appreciate the support and friendship these shops have shown M.T.H. I wish all of them good luck and prosperity in the years to come.
Finally, I want to thank all of my employees for their hard work over the years. Most of them have been with me for decades and their loyalty and talents were paramount to our success.
With thousands of tools and molds and a wealth of intellectual property, a new model railroading company may arise from my former company as I entertain various options and buyers. One scenario is a new company organized and owned by members of my current staff. Their decades of experience, work ethic, and creative talent will ensure success regardless of who owns the assets while providing a welcome bridge between the past 40 years and the future.
The remainder of my time will be busy as we clear out inventory and other miscellaneous items accumulated over the past 40 years. As that process evolves, we’ll be offering consumer and retailer purchase opportunities
Again, from the bottom of my heart, thank you for your loyal support for all these years.
Mike Wolf, President
M.T.H. Electric Trains
Not entirely a surprise.
OMG
Didn't see this coming. I figured Mike would sell when he was ready to retire, not shut down.
😳😳😳
I hope Lionel buys Mike out and puts Legacy in all of the MTH engines!
@Mike D posted:Didn't see this coming. I figured Mike would sell when he was ready to retire, not shut down.
No buyer ... so far?
Mike must be ready to move on. Quickly.
@MIKATT1 posted:I hope Lionel buys Mike out and puts Legacy in all of the MTH engines!
Dave ... This brings up many, many interesting scenarios regarding options Lionel may have. Not implausible.
No surprise that Mike is retiring, running a business can be tough.
Just surprised that he didn't already have a buyer.
Very interesting, I have not found anything I wanted to purchase from MTH in the last 6 catalogs anyway.
Sad though.
Stay tuned, I'm sure there will be more to this story in the coming weeks.
Paul
@rthomps posted:No buyer ... so far?
Mike must be ready to move on. Quickly.
Whats to sell? The factory probably owns the tooling.
Hmmm...maybe Mike Reagan should buy it. Then the name could stay the same.
Hay, my tinplate may just have gone up in value
@RickO posted:Whats to sell? The factory probably owns the tooling.
Hmmm...maybe Mike Reagan should by it. Then the name could stay the same.
May be why there's no buyer, in these anti-China days.
One word . . . Menards?
I would have thought the business would have continued on without him. I am surprised.
I just saw this news on Facebook and I have to say I was stunned to see this. The quality of MTH was one of the reasons I got into the hobby and have accumulated a good collection of locomotives and rolling stock over the years. Like everyone on this board I am going to miss MTH a great deal but life will go on. Hopefully a new company will pick up his tooling or maybe Lionel and Atlas will pick it up as well. Definitely a sad day for the hobby. I wish Mike Wolf all the best in his future endeavors.
Troubled Times
Thank you Mike -- it's been a great ride.
SZ
Let's see if Lionel increases their prices now, they will become a virtual monopoly.
One less bell to answer.
Wow. I didn't see that coming at all. MTH reenergized the market back in the 90s and made Lionel step up their game. I always felt they made a quality built product (the electronics not withstanding). I do hope Mike finds a buyer and the company can continue under new ownership
Speechless
No panic here the product line will be divided up and sold to prospective buyers it probably can't be sold as a package because the market is a niche market and financially can't absorb it and get quick return. After all what are you selling or buying a brand and tooling and maybe any parts or product inventory.And this is whether its MTH lionel or...
I hope Lionel gets the tooling for the subways and finds a way to keep the auto mode feature. I really have no words for this! So sad!
Shocking news. Did not see this coming, as Mike is a relatively young man.
Pat
As much as I like Lionel, I really hope another company takes over MTH. The competition drives innovation in the hobby.
My congratulations to Mike on his planned retirement next year! I pulled the pin myself a year ago and have not regretted it!
I will also say thank you for everything you’ve brought to this hobby over the past 40 years. Your products have captivated my attention and brought me years of fun!
All the best in your retirement next year!
Curt
All the best Mike. Thank you.
The biggest issue I see? Parts for existing product! As for the new catalog, who in their right mind will order a complex electronic product when support is vanishing???
I started getting into MTH a year or two ago, so it's pretty sad and shocking to see this. Who knows, maybe the old staff will pick up where they left off and start something new under a different name.
I, for one, will continue to be optimistic about the future and that there will be a buyer for MTH.
I wish Mike the best of luck in the retirement.
Mike, enjoy your retirement. You have earned it. Gotta get my order in ASAP.
@gunrunnerjohn posted:The biggest issue I see? Parts for existing product! As for the new catalog, who in their right mind will order a complex electronic product when support is vanishing???
Well, at least with the S Scale, I can gut the electronics and either install DCC or wire up conventional DC.
Rusty
Not a good thing for the hobby. The best outcome will be for the company to remain intact and continue to make its products under new ownership. If the company is sold off in pieces, there will be no effective competitor for Lionel. My best wishes to Mike Wolf. His products have provided me with a great hobby for the past 23 years.
MELGAR
@MIKATT1 posted:I hope Lionel buys Mike out and puts Legacy in all of the MTH engines!
Oh no...please, no!! That’s the last thing I would want. Don’t get me wrong, I love Legacy and all that it offers...but competition is good for all of us in this hobby, especially in “O“.
I’m really rooting for some version of the MTH employee-formed company as stated in Mike’s letter. He’s got some good folks there that really know model trains. Now whether that’s a financially feasible option, I guess we’ll have to wait and see. Fingers crossed in the meantime.
Thanks, Mike, for all you’ve done for the O-gauge train hobby. I’ve really enjoyed the ride since my first MTH purchase in 1998. I sure hope it continues!
Wow! This is stunning news. Good luck, Mike. It has been a fun ride.
I wasn't expecting this. As if 2020 couldn't get any worse...I'm hit with this!
@gunrunnerjohn posted:The biggest issue I see? Parts for existing product! As for the new catalog, who in their right mind will order a complex electronic product when support is vanishing???
A possible outcome is the company is sold piecemeal with the electronics being one of the pieces. Could be an opportunity for some electronics guy with in depth knowledge of the system.
Pete
I am also hoping some other company or the employees take up the mantle. Since a Majority of my Equipment is MTH, I am kind of wondering how it will affect the app they developed.
I think there is an excellent chance there will be a buyer, or a set of buyers for MTH, given that there is a year to get a deal done. I think there would have been a chance of that happening in Weaver's case, had Joe given more notice before shutting down. Also, MTH is a much bigger company than Weaver was. So, like others, I am actually feeling pretty optimistic at this point.
Pat
No way it would be priced where someone like me could afford it. All I can say is I'm glad I'm not a "one trick pony" and also do Lionel.
1) Thanks to Mike and all the fine employees at MTH for the innovative products over the years!
2) Obviously it's only their business why they would or would not be interested in buying/taking over the company, but keep in mind at least a few of the original employees whose names we all have come to know over the years are friends of Mike from quite a while ago, i.e., in a similar age bracket for a lot of them, most likely. That's a pretty big "new job" to take on if you are closing in on possibly wanting to retire yourself in the not too distant future.
3) I guess I need to prioritize creating my order list from 2020 V2. Hopefully with the delay in release, the order deadline has not passed yet.
-Dave
If this were 15-20 years ago... I would have said Tony Lash would be a lined up purchaser...
Reading between the lines, they've been looking for a buyer for some time and the white knight has not appeared. Hence the uncertainty in the tone of the message, and the implication that the owner is no longer prepared to postpone retirement. Both purchase of the company and closing of the company are mentioned, which are opposite outcomes.
I wonder if Mike and a group of his employees will work out a deal where they continue to operate the company and he and his heirs receive a cut of any profits forever, rather than an employee purchase of the company with a capital investment. Many have said that cash flow is a significant issue in this and similar cottage industries. Apparently no one outside the company is willing to make a capital investment of a size commensurate with their annual sales. But this insider scenario could be best for the hobby, the company, and maybe in the long run for its founder and his heirs. I'd guess he would have preferred someone to come up with tens of millions to buy him out (if he is, as is apparently the case, a sole proprietor). For reasons others have mentioned, it hasn't happened.
It ain't over till it's over.
@irish rifle posted:Also, MTH is a much bigger company than Weaver was. So, like others, I am actually feeling pretty optimistic at this point.
That's part of the problem, and IMO not exactly a reason to be optimistic. It's going to take a lot of capitol to buy it and keep it running, so I'm not nearly as optimistic as you at this point. I just hope there's some continuity of parts for folks to keep the existing stuff running.
First I want to wish Mike the best in his retirement and a thank you for giving me "model railroad fever." My first set was a RTR 2-6-0 ATSF freight set with an air whistle from MTH.
I personally hope that someone buys MTH and uses all of the fantastic products that Mike and his team produced over the years. If the company is sold off in parts, I hope that whoever buys it will do something similar to Lionel's ERR so the model railroading community can still use the fantastic ProtoSound 3 system.
Bryce
Have a great retirement Mike. You sure shook up and made changes to model railroading. The thing that impressed me most about Mine was when I was at his facility in Maryland training to work on his products. In between sessions I went outside for a smoke break. An elderly gentleman cane up to me and asked if Mike was in town. I heard he was overseas and passed that along to g the guy. He told me he talks with Mike a lot and enjoyed his time with him. To me that was a class act. The owner of a company taking time to see this gentleman whenever he could. A tip if the hat to you Mike Wolfe. Well done.
Hoping to see Lionel pick up some of the engine tooling. Always loved MTH engines, but not for their electronics.
Many thanks to Mike for all of the basement fun over the years, and for bringing realism to three rail trains.
So what happens to the DCS app support? Guess it's dead after that.
Andy E for President!!!!! There I said it first.
I'm sure much will be written in the ensuing months, but just how much Mike changed the game is undeniable. The man has worked his @$$ off along with Andy and Rich for the last 35 years. This is not an easy business and it's only going to get harder.
I would love to see the MTHers take up the company but could also see a future where Lionel acquires the locomotive tooling and is able to pull off some interesting projects.
Hold on to your seats folks, this is going to be interesting to see how this plays out.
I love the MTH product and it's what got me back into trains after moving away from my childhood home and my Lionel set that dad gave me.
I hope MTH has eyeballs on all of their company-owned tooling in China. Things have a way of getting lost over there... Keep an eye on Ali Express in the coming months.
Well congrats to Mike. I've got 8 of his Premier steam locomotives and DCS, none of which have given me any real issues. Mike has made a bunch of products that have helped us enjoy the hobby, so thank you for the years of fun.
I've acquired some spare DCS, PS2, and PS3 components over the last couple of years. If production of electronics for the DCS system ends I'll be ok for a bit. When it all finally dies I'll change over to ERR or what ever the equivalent is.
I started in O gauge when I was a child in the early 90s and Lionel was the only game in town. By the late 90's the hobby was in an O gauge renaissance. We had Lionel, MTH, K-Line, Weaver, Williams, and Atlas O cranking out product. 25 years later it'll be down to Lionel again, with a bit of Atlas O sprinkled in.
Holy Snikees!!! I wish Mike nothing but the best, but I didn't expect a retirement announcement without a sales plan, especially with years of electronic products looking for support. I hope he is able to sell to the employees. Going from "simply the best way to run a railroad" to I'm taking my ball and going home", is one abrupt change of direction. As a longtime loyal customer I am not sure if I should be shocked, disappointed, or maybe mad as hellgate that the system I have invested a large amount of my money and time in is just closing up shop without a transition plan. I think I am a bit of all three but mostly the latter.
@gunrunnerjohn posted:The biggest issue I see? Parts for existing product! As for the new catalog, who in their right mind will order a complex electronic product when support is vanishing???
Mike told us employees today. The building sold a month ago, but it was kept under wraps. Mike said he would support warranty repairs for a year after they close and two employees will be taking over the parts side of the business which includes support for the electronics. Don and I may consider repairs as a side business as Mike offered that part to us. If someone purchases the tooling before May (which I doubt will happen), operations would likely be tranferred to the new owner(s).
How ironic. I just got their current catalogs in the mail and just finished thumbing through them. About two minutes later I read this!
@gunrunnerjohn posted:That's part of the problem, and IMO not exactly a reason to be optimistic. It's going to take a lot of capitol to buy it and keep it running, so I'm not nearly as optimistic as you at this point. I just hope there's some continuity of parts for folks to keep the existing stuff running.
John:
I was involved in a lot of M&A deals in my career. There tends to be more opportunity for one of these transactions regarding entities with a larger footprint and a stronger balance sheet. Frequently, these deals are financed. It's not like one or two people, or even another company, are doing an all cash deal. That said, I do not have any inside baseball on what the financial situation is with MTH, nor how things will ultimately turn out. But I do know, if there is interest, there is plenty of time to get a deal done.
Pat
@Rusty Traque posted:Well, at least with the S Scale, I can gut the electronics and either install DCC or wire up conventional DC.
Rusty
Since I'm also in S scale, I will miss their flextrack more than anything. Their rolling stock is also first rate. As far as their motive power, as nice as they are, I will NOT miss their proprietary electronics. BTW, I'm also not a big fan of Lionel's either. I've had too many of Lionel's electronics give out.
I am just floored by this news. I hope the employees can buy the company and keep it alive.
Mike thanks for all the wonderful products you have produced over the years.
I still have about 26 rolling stock on order. I love military flat cars and grain cars. VBG
WOW ! WOW! WOW!
Best of luck Mike. A well deserved and happy retirement.
I'm sure glad I still run conventional. Not gonna buy DCS now.
Bob
I love you Mike. Too bad. It's been a ruff year for everyone. Where's my 384 frame? Best of luck to you and all your employees. i will miss you guys.
I knew Mike when he was at York working for Jerry Williams I believe before there was an MTH. I was sick of the toy-like three rail trains of over 40 years ago and switched to HO. It was the scale like three rail engines that Mike was so instrumental in pioneering that pulled me back. Thanks Mike for everything you have done for our hobby, and VERY sorry to see you go!
Neal
Just order DCS from Mr Muffin. Wonder if I can cancel? I didn’t buy any locomotive yet. What a bummer.
This announcement kills my interest in buying anything from the recent catalog. Retire if he wants, but why make a public announcement? I don't get it.
Kinda ironic I just finished up this afternoon putting up several new display shelves for several new MTH engines coming in...can't say I'm as excited to get them now as I was when I woke up this morning!
I was going to order two locomotives out of the most recent catalog. Not now. Why? As I've told my dealer, I'm more worried about parts and repairs down the road. Why go order more when they could croak and I'm stuck with them, especially brand new.
I think the day is coming where I get out of the hobby. My interest has come and gone over the years. I always have and always will love the hobby but I am not in the market for Lionel's products much - can't afford them and can't run those huge engines on my small layout. Will be watching what happens but I would not be surprised if my entire collection goes to auction one day in the somewhat near future.
@Stephen G posted:Just order DCS from Mr Muffin. Wonder if I can cancel? I didn’t buy any locomotive yet. What a bummer.
The items will be available NOS and used market for quite a while, I'd imagine.
Brendan
I was not a big buyer of MTH engines, but I have got to think if MTH goes away there might be a big conversion to ERR. Sorry to hear and wish Mike the best.
Marty
@gunrunnerjohn posted:The biggest issue I see? Parts for existing product! As for the new catalog, who in their right mind will order a complex electronic product when support is vanishing???
My thought as well. Without replacement parts (including control systems), what future do MTH trains have to keep running? Someone better buy the MTH assets or noone is going to want to buy any MTH trains, new or used. It seems reasonable that their market value could tumble. Potential buyers are certainly going to think twice before purchasing an expensive product that can't be repaired.
Bad timing, too, when some dealers are just now taking delivery of new MTH products, including special production items. It was also announced that among the new arrivals are steam engines from MTH's new diecast engine factory. Based on that information, something must have happened very suddenly to MW. Obviously, noone would open a new factory just before shutting down his company.
The very best to Mike. No doubt he sits right behind Josh Cohan in the O gauge hall of fame.
Since MTH has a plant in China, this could be a liability. I have no clue but I would think that getting a bank loan to buy the business with the tooling in a foreign country and at this point no real possibility of expansion, 4 lines of products, may prove difficult.
Knowing Mike has had MTH up for sale for years with no takers, I was expecting this. Not this soon though. First Weaver now MTH. Good luck Mike, you will be missed.
I posted this prediction several times on the forum since MTH was not producing any new tooling. I figured Atlas O would drop out first. I am confidant that the items will split like Weaver and carry on for at least a little while longer. There are still a few un-produced items and paint schemes left to offer in O that were overlooked.
Thanks Mike W. and staff for all the great products and making my R.R. dreams come true through the years. I will be right behind you as well.
Good luck and enjoy your retirement!
S.
The market needs supplier consolidation, this sets that in motion. There is too much business for someone not to pick up the product lines.
I still believe that there is some plan for the company. Why else would his letter specifically state the following...
”One scenario is a new company organized and owned by members of my current staff. Their decades of experience, work ethic, and creative talent will ensure success regardless of who owns the assets while providing a welcome bridge between the past 40 years and the future.”
Maybe there is a corporate buyer that will use the current talent to while moving forward.
@Jon G posted:Mike told us employees today. The building sold a month ago, but it was kept under wraps. Mike said he would support warranty repairs for a year after they close and two employees will be taking over the parts side of the business which includes support for the electronics. Don and I may consider repairs as a side business as Mike offered that part to us. If someone purchases the tooling before May (which I doubt will happen), operations would likely be tranferred to the new owner(s).
Good news for those of us who have the existing product.
@Notch 6 posted:Andy E for President!!!!! There I said it first.
I'm sure much will be written in the ensuing months, but just how much Mike changed the game is undeniable. The man has worked his @$$ off along with Andy and Rich for the last 35 years. This is not an easy business and it's only going to get harder.
I would love to see the MTHers take up the company but could also see a future where Lionel acquires the locomotive tooling and is able to pull off some interesting projects.
Hold on to your seats folks, this is going to be interesting to see how this plays out.
But Andy and Rich also are looking forward to retirement!
How about Rapido stepping into the game!
@gunrunnerjohn posted:That's part of the problem, and IMO not exactly a reason to be optimistic. It's going to take a lot of capitol to buy it and keep it running, so I'm not nearly as optimistic as you at this point. I just hope there's some continuity of parts for folks to keep the existing stuff running.
I'd agree with this assessment as well. In the current business climate, it wouldn't be easy to obtain financing for anyone to pay millions for a toy train manufacturer. It's all in the numbers that a potential buyer would see, and future projections. I doubt the company is actually worth nearly as much as some people might imagine. Their building is already sold, much of the tooling is owned by someone else - perhaps the major asset is the "good will" value of the company, and the value of the intellectual property. But if what Superwarp said is true, that the company has been up for sale for years, that's not a good sign.
It's hard to imagine that any employees are going to be able to pull together assets sufficient to purchase the company. Also, if MW is going to bail out right away, that's not good at all. Arrangements are generally made in a purchase agreement for the former owner to stick around for several years during the transition. Lots of unanswered questions - obviously it will be interesting to see what happens next. Someone may take over the parts business, but who's going to make the thousands of replacement parts into the future?
As far as an employee taking over the business let’s not forget Train America Studio. Didn’t last very long without the dominant leader.
It will be interesting to see what pans out.
Hypothetically speaking, if the company is sold in pieces and operate independently, then I believe depending on the weakest link, it may cause the others to fail.
The major issue with many folks will be acquiring the needed electronic components for their sophisticated equipment.
Should the electrical branch of the firm fails first then, I can't see the locomotive hardware side of the business having a means to stay afloat.
Mike must have thought this through, as I can't believe he'd let a business he's built-up over the years from scratch simply vanish or collapse.
Let's try to remain optimistic.
@gunrunnerjohn posted:That's part of the problem, and IMO not exactly a reason to be optimistic. It's going to take a lot of capitol to buy it and keep it running, so I'm not nearly as optimistic as you at this point. I just hope there's some continuity of parts for folks to keep the existing stuff running.
John
'Well put. Interesting to see what becomes of the DCS operating system.
Why not? Weaver models effectively did.
So much for scaletrax.
Like so many, I am truly sorry to hear this. Like so many others, I have enjoyed your products. Good luck and THANK YOU!!
Mike Wolf belongs on the Mt. Rushmore of the train world. His passion, innovation, and competition really drove the hobby. He deserves a happy retirement.
The timing of the announcement gives me pause - I hope there is no health issue. Hoping that someone will step forward and take over.
Attachments
Mth trains is the company that got me into this hobby with their subway productions. It’s morphed a lot from there, but anyway... I’m sad to see you go but so happy for what you’ve given me!
Mike Wolf: best wishes & happy retirement. thanks so much for Your enormous contribution to our passion for trains!! Sincerely all the best. DJ & family.
I guess active buyers will be stuck with buying Lionel ... Good luck ....
I'm a little sad to hear about this passing of a great era in our hobby life. But not surprised at all. I retired this past January and my son has been inventorying my collection so I was talking to him about our MTH items and said to him. Boy I'm 72 now and I know Mike Wolf has to be someplace close to that so I can't see Mike keeping up the pace of running MTH.
Oh well, in any case good luck Mike, I hope you can enjoy the blessings of your hard work for many years to come. and thanks foe a great collection of toy trains and the past forty years of fun.
I do feel confident that someone will buy the company from you.
A huge thank you to Mike for starting MTH!!
Like many, if it weren’t for the the modern locos and cars I would have never gotten back into this hobby. I spent my whole childhood frustrated the HO guys had F40PHs, Amfleets and Superliners to run while I was stuck with F3s and cattle cars.
Thanks to the MTH crew for making so many enjoyable products that have brought countless hours of enjoyment to my basement empire!
From SJC: "I think the day is coming where I get out of the hobby. My interest has come and gone over the years. I always have and always will love the hobby but I am not in the market for Lionel's products much - can't afford them and can't run those huge engines on my small layout."
I guess you've missed the LionChief line. Too bad.
@prrhorseshoecurve posted:Why not? Weaver models effectively did.
So much for scaletrax.
Weaver was only a fraction of the size of MTH, like 5%, pretty easy to walk away from that. MTH is much larger, seems there would be interest at the right price.
So, Charlie, buying MTH?
To Mr. Wolf and the Employees of MTH Trains.
First of all, I would like to thank Mr. Wolf and all of the MTH employees at MTH for the innovative products over the years!
It seems like only yesterday when I entered back into the hobby by buying two of the three Santa Fe Dash 8 Diesels with the QSI Boards, and then over the years buying the Proto -1, -2, and -3 engines as they came out, and, of course, in Santa Fe Livery.
When I went to the Eastern Division TCA Meet at York, PA. the first stop was always at MTH and to get the latest catalog signed by Mr. Wolf himself. (Well, almost all of them except the original flyer when MTH started). As time went on, and of course my buying of MTH Engines and Rolling Stock over the years to build up my collection, and joining the TMB Model Train Club so I can run the same with pride and admiration while our guests watch in awe as all of the trains ran on our layout.
I'm sure much will be written in the ensuing months, but just how much Mike changed the game is undeniable. Mr. Wolf and his Team constantly worked hard, and, along with Andy and Rich for the last 35 years. This is not an easy business and it's only going to get harder.
I would love to see the MTHers take up the company and continue on the MTH quality, but could also see a future where another Company acquires the locomotive tooling and is able to pull off some interesting new projects that may have been in the works.
However, it's only their business why they would or would not be interested in buying/taking over the company, but keep in mind at least a few of the original employees whose names we all have come to know over the years. That's a pretty big "new job" to take on if you are closing in on possibly wanting to retire yourself in the not too distant future.
I, myself, am planning on retiring in another 10 years after a 50 year run with the Utility I have been working with, and I am in a similar age bracket as a lot of us are to retire, whether now or in a few years.
With all this said, I will miss seeing Mr. Wolf and the MTH Crew every six months at Eastern Division TCA Meet in York, PA., but I wish everyone there a long and happy retirement, or starting a new career.
Good Luck Mike, I have a lot of your products. Best wishes and God Bless your retirement.
Wow. I'm just in shock. Don't really know what else to say.
I'm definitely hoping someone besides Lionel buys Mike's. Competition is the only thing keeping their prices from spiking even higher. Also going to miss MTH's more unique products, like the Triplex and M10000 and Turbines. But I'm sure someone like Atlas will cover that, though it seems like their O Gauge product line is getting smaller by the catalog.
But what I'm really concerned about is RailKing. As a broke, unemployed HS student running traditional, RailKing was the only product line I could reasonably hope to purchase. Lionel's pretty much abandoned the low-price market (no, LC+ does not count. $700 for an F3 is not low-price), and RailKing's slogan of "The Best Value of O Gauge" is 100% accurate, imo. Or was. But I don't see either Lionel or Atlas having an interest in RailKing. Maybe Menards?
Anyway, I see this as a huge loss for the model railroading hobby. Hope someone will be able to pick up the pieces.
There's a couple of MTH engines I should get. Maybe more rolling stock too.
@prrhorseshoecurve posted:But Andy and Rich also are looking forward to retirement!
How about Rapido stepping into the game!
Despite being an O scale modeler, I have followed Rapido for some time and they would be great. Their HO and N engines and cars are phenomenal. and they genuinely seem like great people. They could do wonders with an O scale line.
Best wishes to Mike on his retirement! He has more than earned it.
He was certainly dedicated to the hobby and its members. I believe that in all the years I have been going to York, Mike only missed one or two and I think those were only because he was in the Orient taking care of business there. He made himself available for the whole meet and that looked to me like it could be a very trying and tiring experience. He also did most of the MTH presentations at Strasburg before York.
The other legacy I think of with Mike was when the licensing issues with the Class 1 railroads arose and he worked out a deal for the whole hobby industry, not just MTH. It certainly removed what was threatening to become a major drag on the commercial production of model trains.
As they say in the Navy, best wishes for fair winds and following seas.
@Lirr 1555 posted:Let's see if Lionel increases their prices now, they will become a virtual monopoly.
Or, it will moderate prices.. The more you make....the cheaper you can bargain for the manufacture.
Always interesting to see how people make predictions when so little is known about the financials. One thing that is unlikely is for all of the tooling, parts, IP, and goodwill to simply disappear. The gentleman who runs the Notch 6 podcasters it best - it will be interesting to see how this all unfolds.