From the Trains.com website. Home Milwaukee Road 261 sold By Steve Glischinski Published: Friday, January 22, 2010 GREEN BAY, Wis. — Milwaukee Road 4-8-4 No. 261 has been sold through rail equipment broker Sterling Rail to a California-based collector, the company reports. The locomotive's present owners, the National Railroad Museum, had no comment on the possible sale. The Minneapolis-based nonprofit Friends of the 261 leased the locomotive from NRM and operated it from 1993 to 2008. The engine is presently in the Friends' Minneapolis shop, having been torn down for its federally mandated 15-year inspection. When talks between the NRM and the Friends on a new lease stalled last fall, overhaul work on the 4-8-4 ended and plans were to return the engine to Green Bay for display. While several stories have been floating around the Internet that the friends will rebuild and operate 261 for the new owner, that's not the case, at least not yet, says Steve Sandberg, the Friends' chief operating officer. "Our organization has been engaged in talks with several organizations about the possibility of leasing or acquiring other steam locomotives," Sandberg told TRAINS. "We have an obligation to our organization and to those we are in discussion with to carry those talks through and see what the outcome will be." However, Sandberg didn't completely rule out working with 261's new owner. "We are looking forward to talking with the new owner to see if there is an economically viable plan where we can cooperate," he said. While the Friends has leased the 261 for 15 years, it's really not a party to the sale, and Sandberg says that he has not yet been formally notified that the sale has gone through. If or when a sale is completed, there are several business issues that would have to be resolved. For example, while the friends were required to carry insurance on the 261 under the agreement with the museum, if the engine were sold, the insurance would be the obligation of the new owner. Read more about Milwaukee Road 261 on Trains.com.
Let's hope this treasure is now in the best of hands, and will be quickly back out on the rails. Where she belongs! Boxcab E50
Hmmmm...so that's why NRM was so coy in detailing what they were going to do with the 261. A sale like this has had to have been in the works for a while. I would suspect they were sandbagging Sandberg and crew all the time regarding the lease while they negotiated the sale. The whole scenario is earily similar to some other business take overs and sales I have witnessed and been part of. Michael E. Telzrow and the directors should be proud. Take what a bunch of other people worked to build, and sell it off for your own benefit. It fits Mr. Telzrow's level of published thinking. I will never visit that place again.
I have been hearing and reading complaints about them for quite some time now. A lot of people seem to feel the same way as you do. I have always chuckled some at their use of "National" in a name... It just doesn't fit. Regional, more likely a better choice. I agree this had to have been in the works for a while. While it could have happened quickly, this just doesn't feel right. :tb-wacky: Boxcab E50
Not only does it not feel right, there will be problems with folks who donated items that were used on the 261 that will want their property returned. There is a long diatribe out on the web from a member who helped locate things like gauges, bearings and other parts that made the 261 work who listed the bunches of parts that will need to come of the 261-and the anger of the lenders at the situation, as it was, before this sale came to light. This will be interesting.
Yikes! This could get even more complicated. Perhaps explaining why the Group is looking at something non-Milw. :tb-sad::tb-sad: Boxcab E50
seems like a major hurricane battle over that will be happening. If I had items loaned out for something like that I would be for sure keeping up with what is going on. But I think that there if there no documentation on the loaned parts they will get hosed, Hate to see something like that happen.
That's not likely, knowing the Sandberg family and the way they do business. I'll bet they have complete documentation of all parts loaned, donated, and what ever other options exist. :tb-confused:
261 Could you give a link to this diatribe you refer to. I had not seen it, nor am I aware of it. Thank you. Ed Selinsky
Interesting that there was an argument about a sale that turned out to be false. And now since Friends of 261 own the engine it no longer matters.
Hi Ed, and welcome to Trainboard! I never saw this diatribe, and I surf a lot of train related boards. I, too, would like to see it. BTW, I sure am glad you guys got the locomotive. Now if we could raise another 700,000 bucks or so, maybe the rebuild can be finished. Send money to Friends of 261. Yes, they are going back to that name. :tb-biggrin:
Could you supply a link for this diatribe from the member mentioned? I had not heard of these lenders and would like to keep the records straight. Thank you. Ed Selinsky
Dear Ed, I'll have to go searching. It was several paragraphs from what I remember. I'll see if I can find it. -Mark
Dear Ed, No luck. I hit many a website using the same search phrase I used back a few months ago, and cannot find the source. Sorry for any problems I caused. If it helps, I became a Friends member today. Can't kvetch one day, and not pony up when things swing my way. Mark
Thanks for your efforts. I believe we have excellent records of the origins of everything on the 261 that was not on it when we first started renting the locomotive. and I know of no discontent from any of the people with whom we have arrangements of indefinite use, and those are very few. That's why I was surprised to see your post. thank you also for becoming a member and supporting our operation. Ed Selinsky
