We have performed shell-model calculations of the half-lives and neutron-branching probabilities of the r-process waiting point nuclei at the magic neutron number N=82. These new calculations use a larger model space than previous shell model studies and an improved residual interaction which is adjusted to recent spectroscopic data around A=130. Our shell-model results give a good account of all experimentally known half-lives and $Q_beta$-values for the N=82 r-process waiting point nuclei. Our half-life predictions for the N=82 nuclei with Z=42--46 agree well with recent estimates based in the energy-density functional method.