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Retailer Joe Serra Confirms Interest in Buying the Saturn Brand (Visit this link)
Ron Fonger from the Flint Journal: Mega auto dealer Joe Serra confirmed he is talking with automotive entrepreneur Roger Penske about saving Saturn, but isn't sure where those talks will lead. "I've got a lot of respect and admiration for the Saturn brand, the retailers, the network and obviously Mr. Penske," Serra said Wednesday. "There's no formal agreement (between us). I'm just trying to preserve this brand." Serra's name emerged Wednesday as part of a possible new ownership group for the Saturn distribution network, a partnership that would include Penske and another Michigan auto dealer. Several parties have expressed interest in buying Saturn and its dealerships, but the Penske name would be hard to top and Serra is one of the top names in GM's existing dealer network. The township-based businessman owns two Saturn dealerships in Michigan, while his brother owns Saturn outlets in the Flint and Saginaw areas.
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