Demolition Derby For Car Dealers On Wall Street?
Auto megadealer Peter G. Jarvis recently rebuffed a buyout offer from adman-turned-car-dealer Carl Spielvogel. Jarvis, CEO of Warnock Automotive Group in Morristown, N.J., told Spielvogel that his 14 dealerships were not for sale. Now, as Spielvogel's United Auto Group heads to Wall Street in late September to raise $172.5 million through an initial public offering, Jarvis says he can't help but "fantasize about how much we'd get."
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