Mike Wolf to retire and close MTH

@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.

Disappointing......

Gary

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.

@NYC 428 posted:

Very interesting, I have not found anything I wanted to purchase from MTH in the last 6 catalogs anyway.

Sad though.

This has been one of the problems for MTH, I suspect.

The new MTH catalogs look like "Dead Product Walking".  

If Mike parcels out S gauge and American Models picks it up, I could go back to S gauge. I'm dumbfounded. As a 16 year old boy, American Flyer left the market. That was the end of trains for me. Then I saw Mike's awesome scale locomotives in 1997 and I went into O gauge. I have the Lionel Legacy system and 2 locomotives. However, my last 2 Lionel locomotive purchases had built in (engineered) flaws and recent Lionel products are exorbitantly priced.

Midge's Train House.  

@Oman posted:

If Mike parcels out S gauge and American Models picks it up, I could go back to S gauge. I'm dumbfounded. As a 16 year old boy, American Flyer left the market. That was the end of trains for me. Then I saw Mike's awesome scale locomotives in 1997 and I went into O gauge. I have the Lionel Legacy system and 2 locomotives. However, my last 2 Lionel locomotive purchases had built in (engineered) flaws and recent Lionel products are exorbitantly priced.

They all have issues...

There's a difference between retiring (us normal folks) and selling a business. It doesn't make sense to me. If the employees are going to buy him out (or anyone else); he's already devalued the worth of the company with this announcement.

Is anyone going to order from the last catalog? Not me!

@Rich883 posted:

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.

That's probably part of the problem. Scott Mann buying ERR is one thing (for example); someone making a large investment for an entire toy train company in today's market is quite another - a much tougher sell.

If anything, it makes sense that MTH will be divided piecemeal, with the train manufacturing portion least likely to survive. Just IMHO. Noone really knows what the current market is, although Lionel keeps saying that each year is their best year yet (at least in recent years). Wouldn't be a complete shock if they jump on part of the carcass is the price is right.

It is a sad day for the hobby.  Thank you Mike for all you have done for the hobby and all the innovation.  It was nice to see an owner with such a passion for the hobby make it exciting.  You will be missed.  I hope you find a buyer to keep what you built around for another 40 years.

Thank you,

As someone who retired last year after 43 years in my field, I wish Mike all the best in retirement.

As a customer who prefers MTH, I am disappointed there isn't a plan in the announcement for the DCS system and replacement parts.  Hopefully someone will come forward to carry that on.  Otherwise, if an engine of mine fails I can put in ERR.  If the TIU fails sometime down the road, and I can't get it repaired, I guess I will have to go back to conventional.

At least I did not want anything from the newest catalog.

Thank you Mike Wolf for everything. 

Truly the end of an era. But with that said, Enjoy retirement Mike, you've earned it!

@Randy T posted:

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

I just saw the news about a half hour ago. I couldn’t believe what I was reading. It’s sort of weird that I just got a PS3 loco back from an MTH independent tech in the mail today. I also hope the company can be kept intact and sold to some reputable individual. Competition is good for business.

As many others have said, something just doesn't add up here. 

I hope Mike is ok.

I hope MTH continues in some form if for no other reason than to keep Lionel from having a monopoly.

I have many things to say and can't find the words yet.

#1 is to thank Mike Wolf for the great work he has done and to wish him the very best in retirement. I'm reading everyone else's comments to guide my reply.

I'm just stunned right now. I really like MTH products and will find a way to proceed.

Sad to see this happen, I can already hear Lionel the Lions stomach growling, they're gonna pounce on MTH and buy a lot/ or at least any tooling they can get their paws on.

News bombshell for sure. Mike, enjoy retirement you earned it. If by chance the train line continues that would be a plus. If I read right the parts will carry on. Hopefully in one way or another either someone will buy the whole businees or a number of people will buy certain aspects of it. But foremost thank you Mike for a  great 40 year ride........Paul 2

It will be interesting.  Less competition for Lionel is really bad news for O.

From Landsteiner:  "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."

To me, this seems to be a very accurate assessment of the situation at hand. 

It's not over.  There's going to be some real play in the industry in the next 10 months or so.  Hang on for the ride....  

What concerns me - and hasn't really been mentioned here as far as I can see - is the effect this will have on LHS across the country.  The loss of MTH may well have a terrible consequences for our hobby retailers.  Product in the new catalog may not sell well.  (Who knows?)  But the value of existing MTH inventory certainly will decline.

And, that is sad.  

@shawn posted:

They all have issues...

No! These were 2 significant issues. The first was a locomotive that did not have TRUE Legacy. No way would I be able to double head this locomotive with my other Legacy locomotive. Lionel admitted their error and took it back. The second was a locomotive that Lionel said could only be repaired in China. Well, I missed the memo and the boat. Again, Lionel took it back and refunded me. But, I still do not have these models that I wanted.

Anyway, Lionel prices have gone through the roof. Too much for me. To give context to my statements, I only buy Lionel Legacy and MTH premier.

Stunning news - what a year 2020!

Let's all pause, take a moment and think about the retailers who have built a career, life , business with MTH. We have lost so much already! Good luck to Mike ! A sad day for all of the MTH fans, of which I am one !