Remembering Walter Rich

[Tadman]

It's been a few years since we lost Mr. Rich. I've read some about him on the net, but it might be a good time to share some positive stories, or make constructive criticism of his business decisions - the more I read the more interested I become. It would be in good taste to keep this thread positive or respectful, and not to make personal attacks.

I'll add my two cents:
I respect him as a lawyer that didn't take the traditional career path and instead became a railroad entrepreneur. Owning a road such as NYSW or TP&W is as close to becoming a railroad tycoon as any one person could in the 20th century.

[O-6-O]

His critic's aside, railfans all over the east can thank the late Walter for many things. He brought us steam, excurisions, monetary and equipment donations and was mostly a friend to the railroad and railfan
alike. I had the good fortune to sit and chat with him eating lunch at one of the Maplefeast events in the late 90's. Really a regular guy who likes trains and was happy to talk them with a nobody like me.
He opened his home in Cooperstown to a luncheon for our local NRHS chapter and sponsored the O Winston Link photo exhibit down there a few years ago and I enjoyed both. I know he has his detractors and I never did business with him, but for me he was gentleman and I'll never forget his contributions. Thank You Walter Rich.

[ricebrianrice]

I new him as a Delaware County farm boy. My father and Walter's father George were friends through 4-H. Walter always stopped and talked to my father at the Delaware County Fair. The last time he was at the fair, he was there with an artist, who was going to paint a scene of the O&W passing the fair grounds. I wonder if that ever happened, because he got sick not long after.

I am also glad he was an O&W enthusiast, he saved NW-2 #116, and Car #30 Warwick. When you look at the map of the NYSW, it looks strangley similar to the NYO&W, in fact the NYSW was closely linked to the O&W, maybe that is why he purchased it?

Even though some of this business dealing may not have been above board, I think that everything he did he was trying to improve his business, and sometimes it takes some thinking outside the box.

Brian

[Steamtown Observer]

As a business critique, I guess we can say that the stockholders of Delaware Otsego did well with the buyout (remember that they paid out nearly an extra buck per share a year or so later when they were threatened with a class action lawsuit).

I do wonder if Walter knew how little time he had if he would have done the deal with NS/CSX at the time of the Conrail breakup. There were opportunities to do deals with CN or CP that I assume were less lucrative (at least in the short term). But seeing how it looks like the NYS&W is disappearing perhaps Walter would have gone for one of the other deals that might have kept the NYS&W going as his legacy.

[Noel Weaver]

I was an early stockholder in DO back in 1970. At that time they were literally walking the streets of Cooperstown trying to
sell stock in order to save their railroad. If Walter Rich had not come on the scene when he did it is likely that the
Cooperstown Branch as well as probably the entire NYS&W would have become history. Walter had an extreme talent for
turning around railroads that were on their last legs and making them a going concern.
Walter also made a point to see that the stockholders who invested in him received a very good return from their
investments.
I know there were some who did not like him but to me he was a good, heads up railroader and a good person as well.
I remember working with him for a weekend of operations out of Milford when he got a call from the D & H that some hot
cars for Agway, Milford had just been spotted at Cooperstown Junction. Walter and I took the RS-2 and went down to get
the cars, he ran it one way and I ran it the other. Agway needed those cars that Monday morning and he wanted to see that
they got their cars quickly.
I truly mourned his passing.
Noel Weaver

[thebigham]

Walter Rich passed away August 9, 2007, 16 months ago.