Dale C. Maley: Fairbury car business overcame major obstacle

The Petersen family and its auto dealerships have survived many obstacles over the years. The 2008 Sub-Prime Mortgage financial crisis resulted in a record 881 U.S. auto dealerships closing in 2008. Fortunately, Petersen Chevrolet Buick, Inc. of Fairbury, survived this significant economic crisis and continues to offer excellent products and services for its customers.

This business has remained in the Petersen family for quite some time. Mike Petersen, his wife Kimberly, and their daughter Erin Ifft now manage the business.

The story of the Petersen family began with the birth of Joachim "Joseph" Petersen in 1851 in Hanover, Germany. He was the son of Johann L. Petersen (1807-1883) and Margarethe Engelken (1826-1883). Joseph Petersen married Anna S. Lepler in Germany in 1878. Joseph was 27, and Anna was 20 years of age when they married. They had seven children.

In 1889, the Joseph Petersen family emigrated from Germany to Lawndale Township, near Colfax. In 1976, a history book about Lawndale Township was created as part of the nation's bicentennial celebration. This book recounted that in the 1880s, there was a large migration of German families to Lawndale Township. Some of the new family names in the township included Petersen, Winterland, Heins, Schuler, Hadaway, and Brandt. These new German settlers organized a Lutheran congregation. This congregation built a small church with a cemetery to bury family members.

One of the children of the Joseph Petersen family was Henry A. Petersen. He was born in Lawndale Township in 1900. Henry married Toma Folmina "Minnie" Dringenberg. She was the daughter of Edo Garrault Dringenberg (1863-1947) and Amelia C. Kerntke (1873-1954). Minnie's parents had also emigrated from Germany to Illinois. Henry and Minnie were each 20 years old when they married in 1921. They had six children.

One of Henry and Minnie's children was Wayne Henry Petersen. Wayne was born in 1931 in Colfax. In 1950, Wayne married Wilma Ruth Cramer. She became an orphan at the age of six and was raised by George and Marie Schuler of Colfax. Wayne was 18, and Ruth was 20 when they married. They had three children.

Another of Henry and Minnie's sons was Loren Dean Petersen. He was born in 1934 in Lawndale Township. In 1952, he married Joyce Muriel Miller. Dean and Joyce were each 18 years of age when they married.

Henry Petersen farmed until he established Petersen's Motor Co. in 1954 in Anchor. This company was a partnership between Henry Petersen and his two sons. These two sons were Wayne H. Petersen and Dean Petersen.

Toma, the wife of Henry A. Petersen, died in 1957 at the age of 56. She was buried in Immanuel Lutheran Cemetery in rural Colfax.

In 1969, when Henry was 69 years old, he retired from the business. That same year, Wayne Petersen and his brother Dean Petersen purchased the former Claudon Motors in Fairbury. In 1974, Henry A. Petersen died at the age of 74. He was buried with his wife in the Colfax Lutheran cemetery.

In 1975, the company purchased Fairbury Auto and added the Chevrolet and Buick brands to the dealership. Claudon Motors and Fairbury Auto were formerly located in buildings on the west end of Locust Street. The Petersen Motor Co. built a new facility on Route 24 just west of Fairbury and moved both of these businesses in 1978 to the new location.

In 1987, the business purchased Jones Motors in Gibson City and opened a Chrysler and Dodge dealership in that town. Wayne Petersen retired from the car business in 1995. In 2000, Petersen purchased Birkey Chevrolet Buick in Gibson City. That business was renamed Petersen Trackside Chevrolet Buick, Inc.

The 2008 Sub-Prime Mortgage financial crisis engulfed the entire American economy. Congress encouraged banks to make home mortgage loans to people who could not afford to repay the loans. Eventually, the loans could not be repaid, and large firms such as Lehman Brothers declared bankruptcy.

Banks quit making any new loans, and people stopped buying new automobiles. By June 2009, both General Motors and Chrysler had gone into bankruptcy. The American and Canadian governments agreed to bail out the North American auto companies with $85 billion of loans.

General Motors emerged from bankruptcy as a new company majority-owned by the United States Treasury. Chrysler emerged from bankruptcy, owned primarily by the United Auto Workers union and Italian automaker Fiat. Both companies terminated agreements with hundreds of their dealerships, and GM discontinued several of its brands as part of bankruptcy proceedings.

The Petersen Motor Company received notices from General Motors and Chrysler that their dealership agreements would soon be terminated, effectively putting them out of business.

General Motors wanted to end its relationship in both the Fairbury and the Gibson City locations. Chrysler did not want to terminate their relationship in both towns. After negotiations with GM and Chrysler, the business negotiated to close the Chevy Buick store in Gibson City (Petersen Trackside) and the Chrysler franchise in Fairbury. This agreement allowed the company to have both franchises, just in different locations. Fairbury kept Chevy Buick, and Gibson City retained Chrysler Dodge Jeep Ram.

Wilma, the wife of Wayne H. Petersen, died at the age of 70 in 2000. She was buried at the Immanuel Lutheran Cemetery in rural Colfax. Wayne H. Petersen died in 2018 at the age of 87. He was buried in the same Lutheran cemetery as his wife.

Petersen Chevrolet Buick, Inc. of Fairbury, has continued to adapt its business to new technology innovations. The dealership has added electric vehicles and charging stations to support them. Many electric vehicle owners plan their trips to include recharging stops in Fairbury.

This article originally appeared on Pontiac Daily Leader: Dale C. Maley: Fairbury car business overcame major obstacle