Thomas F. Power, Jr., Oct. 3, 1940 – Dec. 2, 2023

The railroad industry mourns the passing of Thomas F. Power, Jr., who passed away Dec. 2, 2023. He was 83.

Tom Power started his career in railroading in 1966 at the New York Central and Penn Central Railroads. He moved from the New York area to Illinois and joined the railroad that eventually became known as the Milwaukee Road. He held several positions there, ultimately becoming president of the railroad serving under the Bankruptcy Trustee, Richard B. Ogilvie.

Most people will remember and recall the events of Tom’s career that began in 1987 when he, along with a group of investors including Ed Burkhardt, started the Wisconsin Central Railroad. At its outset, the Wisconsin Central was a Class II. The WC added additional rail lines in North America through acquisitions of the Fox River Valley and Green Bay & Western  (1993) and the Algoma Central (1995).

While successful as a profitable operating North American railroad in its own right, beginning in 1993, the Wisconsin Central Transportation Group (WCTG) made investments in the United Kingdom (the English, Welsh & Scottish), New Zealand (TranzRail) and Australia (Australian Transportation Network in Tazmania). The push by the WC into foreign markets was unique at the time. The pathway for foreign investment and expansion made by WCTG changed the paradigm for what a short line railroad could be. It opened the door for other short line holding companies like Genesee & Wyoming to explore foreign markets.

WCTG brought its experience in operating railroads in North America to these markets that in many cases were deregulating. Tom Power (and the investment team and Board of Directors at WCTG) saw the opportunity to bring to these markets the efficiencies that had made the Wisconsin Central acquisition successful. Those investments delivered strategic and economic success.

CN acquired WCTG in 2001.

Following his career at WCTG, Tom went on to participate in a handful of rail related businesses, most notably as a board member of Electro-Motive Diesel after the private equity acquisition of that company from General Motors. (EMD is now a division of Progress Rail, a Caterpillar Company.) Tom also participated as an investor and advisor to Railveyor, Railpod, the Arkansas & Missouri Railroad and Helrom AG.

Tom was a great mentor and friend to many. He was always willing to share his wisdom and expertise in a generous and congenial manner. At the start of his career at Wisconsin Central, Tom was instrumental in supporting the early days of Railroad Financial Corporation, the company founded by Tony Kruglinski. (Tony was Financial Editor of Railway Age from 1989 to 2014.) Tom will be missed for his engaging personality, industry knowledge and expertise and for his friendship.

Tom is survived by his wife Bunny (Loretta); children Christopher Power (Dagny), Tim Power (Rob Feller), Ellen Tousignant (Gary), and Angela Gatz (Bill); grandchildren Thomas and John Power; Liam, Addelyn and Alexa Tousignant; and Christopher and Tyler Gatz.

Donations in Tom’s memory can be made to the Parkinson’s Foundation and the National Railroad Museum in Green Bay.