Two farming companies managed by a
controversial Illinois farmer declare
Chapter 11 bankruptcy
For much of the past decade, Rick
Rosentreter has been bad-mouthed in
coffee shops and on Internet discussion
boards during his race to amass a large
farm operation. He became a titan farmer
by accumulating some 30,000 rental acres
across central Illinois just 13 years
after farming only 2,000 acres. The
Carlinville, Ill., farmer has been
accused of driving rents to unreasonable
rates and destroying the moral fabric of
the surrounding rural communities.
Now, the future for Rosentreter is in
doubt as his two farming companies,
Illinois Family Farms and Illinois
Family Farms Leasing Company, have filed
for Chapter 11 bankruptcy protection.
The leasing company filed on Oct. 12,
2011, followed by Illinois Family Farms
LLC on Nov. 23.
A former Top Producer of the Year
finalist, Rosentreter did not respond to
our calls or e-mails regarding this
article.
Bankruptcy isn’t necessarily the end of
a farming career, but it is important to
investigate what happened. To gain
insight for this article, we interviewed
long-time agribusiness consultant Allen
Lash, a trusted mentor for Rosentreter.
One of the ways Rosentreter was
attempting to stay competitive was to
become a founding member of FamilyFarms
LLC, a group started in 2008 by Lash.
The Brighton, Ill.-based consultant once
tagged Rosentreter as one of his all-
time "best students." During a 2008 Top
Producer interview, Rosentreter
responded to the question, What’s next
for you? with a smile and said, "I don’t
know, Allen hasn’t told me yet."
The History. The driving force behind
Rosentreter’s quest for growth has been
well documented. While drilling beans in
1998, he watched as "a parade of large
equipment rolled by." As the story goes
when told by Rosentreter, another area
megafarmer was on his way to plant a
field that Rosentreter had farmed the
previous year, only to be outbid for the
rental acres. He’s referred to it as the
most pivotal moment in his career.
The Summer 2006 Top Producer article,
"Cash in on Rent" profiled Rosentreter.
In that article, he referenced his get-
bigger revelation: "It was a wake-up
call that my dad and I had to change the
way we did business or be run over," he
explained.
In addition to farming at that time, he
worked in the farm management department
of the Carlinville National Bank.
Ironically, today he owes that bank more
than $15 million, most of it unsecured.
The Carlinville bank has filed a
foreclosure petition on Rosentreter’s
personal household and has requested
that the bankruptcy court waive its stay
on foreclosures while the bankruptcy
reorganization takes place. No ruling
has been made.
Flawed Model? Lash says the bankruptcy
proceedings should not be viewed as a
failure of the FamilyFarms model, which
Lash tags as a peer group with much to
offer. For example, he says, if a local
equipment dealer files for bankruptcy,
that doesn’t mean the equipment brand is
not a success. It only means the local
dealer didn’t make it. A mutual
decision, Lash says, was reached and
Rosentreter will not continue as a
member of FamilyFarms.
While Lash says he retains empathy and
compassion for Rosentreter, he maintains
there should be lessons taken from the
downfall of the titan.
"We have learned how important control
systems are," Lash says. "We have
defined five control systems farmers
need to implement, and we’re putting an
emphasis on them."
Rosentreter’s situation shines a
spotlight on the need for those systems,
Lash says.
THis guy couldnt do it in USA he went
from 2000 to 30000 on rented ground.
Some time you just have to say
HM!!!!!!!!!!!!!
controversial Illinois farmer declare
Chapter 11 bankruptcy
For much of the past decade, Rick
Rosentreter has been bad-mouthed in
coffee shops and on Internet discussion
boards during his race to amass a large
farm operation. He became a titan farmer
by accumulating some 30,000 rental acres
across central Illinois just 13 years
after farming only 2,000 acres. The
Carlinville, Ill., farmer has been
accused of driving rents to unreasonable
rates and destroying the moral fabric of
the surrounding rural communities.
Now, the future for Rosentreter is in
doubt as his two farming companies,
Illinois Family Farms and Illinois
Family Farms Leasing Company, have filed
for Chapter 11 bankruptcy protection.
The leasing company filed on Oct. 12,
2011, followed by Illinois Family Farms
LLC on Nov. 23.
A former Top Producer of the Year
finalist, Rosentreter did not respond to
our calls or e-mails regarding this
article.
Bankruptcy isn’t necessarily the end of
a farming career, but it is important to
investigate what happened. To gain
insight for this article, we interviewed
long-time agribusiness consultant Allen
Lash, a trusted mentor for Rosentreter.
One of the ways Rosentreter was
attempting to stay competitive was to
become a founding member of FamilyFarms
LLC, a group started in 2008 by Lash.
The Brighton, Ill.-based consultant once
tagged Rosentreter as one of his all-
time "best students." During a 2008 Top
Producer interview, Rosentreter
responded to the question, What’s next
for you? with a smile and said, "I don’t
know, Allen hasn’t told me yet."
The History. The driving force behind
Rosentreter’s quest for growth has been
well documented. While drilling beans in
1998, he watched as "a parade of large
equipment rolled by." As the story goes
when told by Rosentreter, another area
megafarmer was on his way to plant a
field that Rosentreter had farmed the
previous year, only to be outbid for the
rental acres. He’s referred to it as the
most pivotal moment in his career.
The Summer 2006 Top Producer article,
"Cash in on Rent" profiled Rosentreter.
In that article, he referenced his get-
bigger revelation: "It was a wake-up
call that my dad and I had to change the
way we did business or be run over," he
explained.
In addition to farming at that time, he
worked in the farm management department
of the Carlinville National Bank.
Ironically, today he owes that bank more
than $15 million, most of it unsecured.
The Carlinville bank has filed a
foreclosure petition on Rosentreter’s
personal household and has requested
that the bankruptcy court waive its stay
on foreclosures while the bankruptcy
reorganization takes place. No ruling
has been made.
Flawed Model? Lash says the bankruptcy
proceedings should not be viewed as a
failure of the FamilyFarms model, which
Lash tags as a peer group with much to
offer. For example, he says, if a local
equipment dealer files for bankruptcy,
that doesn’t mean the equipment brand is
not a success. It only means the local
dealer didn’t make it. A mutual
decision, Lash says, was reached and
Rosentreter will not continue as a
member of FamilyFarms.
While Lash says he retains empathy and
compassion for Rosentreter, he maintains
there should be lessons taken from the
downfall of the titan.
"We have learned how important control
systems are," Lash says. "We have
defined five control systems farmers
need to implement, and we’re putting an
emphasis on them."
Rosentreter’s situation shines a
spotlight on the need for those systems,
Lash says.
THis guy couldnt do it in USA he went
from 2000 to 30000 on rented ground.
Some time you just have to say
HM!!!!!!!!!!!!!
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