ASLRRA honors George Betke

George C. Betke, Jr., Chairman of Farmrail System, Inc., was honored with the Thomas L. Schlosser Distinguished Service Award, given on an annual basis to recognize an individual for long-term, significant service to the American Short Line and Regional Railroad Association.

Betke founded Farmrail, ‘Western Oklahoma’s Regional Railroad’, in 1981 as a 35-mile joint venture in cooperation with Oklahoma Department of Transportation after bankruptcy of the former Rock Island railroad left the state without service on about 1,100 miles of line. By means of extensions and two acquisitions, the successor company has evolved into a 347-mile network covering 12 counties, partially as lessee with the public sector and part under private ownership.

Mort Fuller, Chairman of the Board, Genesee & Wyoming Inc., presented the Award, remarking, “There is a collegiality, openness to our sector of the rail industry that makes it special. The ASLRRA is a driver of that spirit, and George Betke’s leadership and support are constant contributors to keeping the Association on track.”

Betke’s direct involvement with railroads began by assembling an investor group to acquire a small Colorado feeder line that recently observed its 100th anniversary, then repeating that procedure on a larger scale in a 1977 joint venture with Michigan Department of Transportation. Farmrail was created four years later, subsequently becoming the first short line to establish a formal Employee Stock Ownership Plan as a foundation for teamwork.

“George has always been focused on the financial success of his railroads, but even more so on the success of their employees, from the set up of the ESOP so employees would share in the financial success of Farmrail, to watching long-time employees grow and succeed,” shared Eric M. Hocky, partner of Clark Hill, PLC and a long-time colleague of Betke’s. “Even with all of his focus on Farmrail, George never lost sight of the needs of the short line industry as a whole.”

Betke also designed the public-private financial structure for Finger Lakes Railway, a joint venture with five county Industrial Development Authorities in upstate New York that was co-founded by Farmrail, Genesee & Wyoming, and Finger Lakes President Michael V. Smith.

“George is a thought leader and a true force in our industry; it is frankly difficult to imagine the association, or indeed the Short Line industry without him,” said Linda Bauer Darr, President, ASLRRA. “Throughout his career, he has led with grace, humility, and a passion for motivating those around him to achieve their very best.”

A graduate of Amherst College in economics with a master’s degree from the University of North Carolina School of Business Administration, Betke’s introduction to railroading came as a Wall Street analyst of transportation securities. A former Chartered Financial Analyst and member of the New York Society of Security Analysts, he has served on ASLRRA’s Executive Committee, remains on its Legislative Policy Committee, and has been an occasional contributor to trade publications.

The award was presented at the Association’s 2016 CONNECTIONS Convention.