Steam & Excursion > What to do with Powerball Winnings

You wake up tomorrow with Half a Billion. What will be your contribution to the Steam Community? We will keep it multiple choice to try to keep it on track.

A) Restore a currently non operational locomotive (Choices, choices, choices)
B) Bankroll an existing group (EBT will be safe)
C) Build a replica from scratch (Can you say Hudson?)
D) Buy your own RR and play with your own engines (Like Jerry Jacobson)


Bonus. How much are you plunking down to take a chance on this?

Personally, I would donate 5 million dollars to ORHF, specifically for the installation & completion of the turntable. I also donate another 1 million dollars tho the friends of SP4449 for any "additional work" that Big Wheels may need in the near future.

A) Send PRR #1361 to Strasburg

Spread some of the wealth around to other organizations, too.

Should still leave "some" money left over for friends and family!

/Mitch

I'd try my to get my hands on Rayonier #38, if Fred Kepner would let her go, and have her running as soon as possible! And yes... I'D BE THE HOGHEAD!!!



Edited 1 time(s). Last edit at 11/28/12 07:24 by patd3985.

I'm with HOT WATER -- pay off ORHF current debt and install the turntable. After that...if I have anything left there are so many options.

I'm with patd3985...with one minor exception...I want Sierra #34 too! (and both of them to run on the Sierra as well)sigh.. one can dream tho...

after dealing with all the family members I never knew I had that came out of the woodwork when they learned I won, some of my winnings would be given to BR&W to upgrade their line and facilities.

What would I do?
1. Establish a trust for my family utilizing fairly safe investments to make sure the money will be there and continue to grow.
2. When we are sure we are "comfortable", use excess money to make "grants" available to anyone restoring historical equipment.
3. Acquire my own AMTRAK certified passenger train to use for charter behind any restored steam engine. I am thinking a string of Pullman Heavyweight coaches... a Diner or two and a few sleepers.
4. Heck, why not get a lightweight passenger set of cars while we are at it? A few domes, round tail observation... it's only money, right?

I would make these trains available to AMTRAK to use for the Thanksgiving or other holiday rushes or special charters. Anything to help ;)
JimBo

After setting up my long term investments and funding a couple business ideas, I'd close the WP Museum in Portola for a couple years and use the down time to build all the buildings I've helped design for them over the last few years: A roundhouse with WP turntable, two equipment display buildings, restoration shop, historic artifact galleries, a library and archives, depot / gift shop and excursion lines would all go in, plus archive scanning and a bunch of equipment restorations. First up would be a restored CZ train.

Someone cut me the check, already got the plans!

Z

Fix Amtrak with your Powerball winnings. And thank you for donating all of the money you have spent on ticket purchases to helping schools in the states that sell the tickets and in keeping pressure off of raising taxes on the folks who don't purchase Powerball tickets.

Pattenburg Wrote:
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> after dealing with all the family members I never
> knew I had that came out of the woodwork when they
> learned I won, some of my winnings would be given
> to BR&W to upgrade their line and facilities.


Pattenburg, with that kind of money you could buy out the current owners and do anything you want with it....perhaps re-install the Bel-Del? LOL

To Z's post, buy the Loyalton Branch and give it to the WP Museum, and relay a whole bunch of narrow gauge North
of Independence, CA.

Buy Yreka Western and get it running again.

Since it's only $350K, I'd pay off the debt for the Stewartstown RR, and get them a tank steamer for their line (give them extra cash for upgrading the line/facilities, etc). I'd get either PRR #1361 finally restored, or donate money to get Reading 2102 restored to operation. I'd spread some money around to other groups (Bel-Del, BR&W, Wilmington & Western, Honesdale Line, Steamtown, etc). But before all that, I'd pay off debts, buy a better house, get a new car (sedan/suv crossover), and make sure my family is set with wise investments. Then choo-choos!!!

bigjim4life Wrote:
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> Since it's only $350K


If I'm not mistaken the "lump-sum, take-home" amount, before taxes is 350 MILLION dollars! NOT $350K.

I'd also do the ORHF $5 million and donate another $5 million to the SP&S 700 group.

I'd donate $20 million to the Mt. Rainier Scenic Railroad for various projects, new passenger equipment purchases, restoration of the ROW to Morton.

And I'd undertake building a modern steam locomotive (A-1 Tornado style project)

And lastly, I'd send Reading and Northern money to finish the repairs to the 425 =)

Add: And I'd give 1/3 of those winnings to find an ACTUAL, SOLIDIFIED cure to Cancer.



Edited 1 time(s). Last edit at 11/28/12 13:42 by Macster.

Huh... and Powerball is now up to $550 million due to ticket sales increase... Jeebus....

HotWater Wrote:
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> If I'm not mistaken the "lump-sum, take-home"
> amount, before taxes is 350 MILLION dollars!

Here's a breakdown, by state, of the options, pre- and after tax.

http://www.usamega.com/powerball-jackpot.asp

But the analysis makes rather simple assumptions about the payout.

For example, the after-tax lump sum for Georgia is $248.5 million. But the winner can create a private foundation and donate up to 30% to the foundation, and get a $33 million tax rebate, making the actual take $281 million ($75 million of which is in a private foundation subject to a 5% annual payout).

And given the byzantine labyrinth that is our tax code, that's only one of many ways to legally stretch your win. Hire a good lawyer and tax planner before claiming the jackpot ;)

JAC

By a railroad, Restore a big boy and run it !!!

I concur with all of the above. And in case any of you were considering helping to reduce the national debt, I did the math and that 500 million only covers 3 ten-thousanths of a percent of that debt, so Yeah, let's build and restore railroads. That debt will never be repaid.