Genoa auto dealerships sold, staff will remain in place
The Baumann Auto Group has purchased Genoa Motors and Genoa Chevrolet.
Baumann will add the Ford line to its existing new vehicle lines Chevrolet, GMC, Cadillac, Buick, Chrysler, Jeep Dodge and Hyundai. These lines are sold at various Baumann dealerships located in Fremont, Port Clinton, Tiffin and Norwalk.
Terry Paul, former owner of the Genoa dealerships, said, “You have to get bigger to survive in this economy…This is a great success for our community. You go to communities our size and you see empty dealerships. This is a good thing for the longevity of our area.”
Paul said all employees and management will stay in place.
The move will also allow the Genoa dealerships to have access to the inventory list of used cars at all seven Baumann lots, some 300 in addition to the 120 on the lots in Genoa, Paul said.
Buck Baumann, a second generation owner, said he was motivated to purchase the dealerships for these three reasons:
•He now has a Ford dealership, one of the hottest selling badges in the nation, to go along with four GM, three Chrysler-Jeep-Dodge and one Hyundai dealerships;
•There will be more economy of sale savings;
•These two dealerships, unlike a couple of the others he has purchased in the last 12 years, has been very successful.
The Baumann name has been a fixture in Fremont since Buck’s father, Al Baumann, purchased Nieburger Chevrolet in 1956 and changed the name to Al Baumann Chevrolet. Al added the Buick franchise in 1984 and in 1990 purchased the Pontiac-Buick-GMC dealership in Tiffin. In 2001 he added the Chrysler-Jeep-Dodge dealership in Fremont and the Cadillac-Buick-Pontiac dealership in Port Clinton. In 2008, the firm purchased a Chrysler-Jeep-Dodge franchise in Norwalk and in 2010 added the Norwalk Hyundai dealership.
Russ Bower founded Genoa Motors in 1955. Terry Paul purchased the company in the 90s. In 1995, he purchased Spurgeon Chevrolet, located in downtown Genoa, and renamed it Genoa Chevrolet. In 2006, the company invested $1.6 million to move the Chevy dealership into a new facility located on Route 51, across from Genoa Motors.
No purchase price was disclosed.
Diversified Insurance Service has awarded a $1,000 scholarship to David Nabinger, a Bowling Green High School student.
Nabinger won for his submission in a video contest to promote how insurance affects daily life.
“David’s video blew us all away, it was so creative and funny,” Jeanie Giesler of Diversified stated in a company release.
Nabinger wore many hats when creating his video. He wrote the script, directed, shot footage and did all the editing himself. When it came time to find talent he turned to his father, who had the starring role, his mother who did the narration and his brother who created the soundtrack.
When Nabinger isn’t creating videos he enjoys building rockets. He also assists the backstage and rigging crew for the school’s drama club productions.
He intends to pursue a chemistry degree in college.
To view the video go to www.divinsurance.com
Diversified has local offices in Fremont and Elmore.
First Defiance Financial Corp has announced net income for its first quarter totaled $4.2 million, or 37 cents per diluted common share, compared to $2.7 million or 25 cents per diluted common share for the same period last year, according to a company release.
The company will pay a cash dividend of five cents per common share payable June 1 to shareholders of record at the close of business on May 15, 2012. The dividend represents an annual dividend of 1.15 percent based on First Defiance common stock closing price on April 20.
First Defiance is the holding company for First Federal Bank of the Midwest and First Insurance Group of the Midwest, Inc. It has local offices in Genoa and Oregon.
The Eastern Maumee Bay Chamber of Commerce will host its annual golf classic Thursday, June 28 at Chippewa Golf Club.
The United Way in Ottawa County will host its annual golf invitational Friday, May 4 at the Catawba Island Club. Shot gun starts at 8 a.m. and 12:30 p.m. RSVP to MJ Siewert at 419-734-6645 or mjsiewert@unitedwayottawa county.org.