Well Rich, you and I clearly have a difference of opinion on this.
If I was on that board, this is what I would do: I would hear the railroad's proposal and try to negotiate the best possible deal, including replacement equipment and excursion privileges and the possible return, if the project proved unsuccessful as well as cash. I would send a letter containing the proposal and the board's recommendation with a mail in ballot, to all the members and let them vote. They don't need to be part of the negotiations, but they do deserve to have a voice in the final decision.
I know that if I was a member who had poured years of his life into this club, I would want to be asked, and would feel betrayed if I wasn't. I would feel much better even if the vote didn't agree with my opinion, than if the board had done it on their own.
Even by my own description, the news of the project's existence has come out prematurely. However, be it a lack of professionalism or leadership on anybody's part, the one thing we haven't seen, is a lessening of interest or resolve on the part of UP. My guess is they will continue to pursue 4014 until all hope is exhausted, at which time other candidates are available.
In the meantime, idiots like me will pontificate, theorize, speculate and otherwise yammer away on this, on the off chance that someone who actually has some say in the matter reads and maybe even finds some valuable insight in what was said.
I would love to see this happen. I'm not holding my breath, but I am crossing my fingers.