Newspaper article THE JOURNAL RECORD

General Manager Purchasing Bailey Chevrolet-Geo-Subaru

Newspaper article THE JOURNAL RECORD

General Manager Purchasing Bailey Chevrolet-Geo-Subaru

Article excerpt

An agreement to sell Steve Bailey Chevrolet-GEO-Subaru in Yukon to Jim Clark, general manager of the dealership, was announced Monday.

The sale should be complete within a month, Clark said Monday.

Tentative closing is Oct. 1, if all manufacturer's agreements have been signed and a license transfer is approved by the Oklahoma Motor Vehicle Commission, Clark said.

The purchase price was not disclosed.

Steve Bailey, who has owned the Yukon dealership for seven years, will retain his ownership in Harris-Bailey Honda, 7722 NW 39th Expressway.

Clark, who has been in the automotive business about 25 years in the Tulsa area, has been general manager of the Bailey dealership since selling four Tulsa dealerships last year.

"This was just a good opportunity for me to get back into business for myself," Clark said of the purchase. "I was waiting till the economy made a turn around to get back in.

"The economy is now showing a lot of good signs of turning around, it can't go anywhere but up right now."

Other than appointing Mark St. John as general sales manager, no major changes are planned in the dealership, Clark said. The company has 72 employees and will add to that number as business grows.

"Naturally, I'm not going to turn down any opportunity to improve my position in the marketplace and that could include adding franchises," he said. "But I have no plans at this time for any changes."

Included in the sale was $5.2 million worth of new and used car and parts inventory, service and shop equipment. The dealership has a service area with 30 bays and room for expansion, Clark said.

Negotiations for the real estate are still underway, so Clark could not give details on how much land he is purchasing or what the total price will be.

Sales have been running between 150 and 200 units per month this year, Clark said, a figure that will remain fairly stable. …

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