The founder and fomer president of Coronet Carpet Co. lived here until his death in 2007. In 1971, Radio Corporation of America (RCA) acquired Coronet for $181 million, according to Fortune magazine. His shares, when transferred, made him RCA’s biggest single stockholder. In 1973, Seretean became chairman of the board of Coronet Industries and a member of the RCA board of directors.
From 1975 to 1977, he was a co-owner of the NBA’s Atlanta Hawks and was its president and general manager. When the franchise was sold to Ted Turner, Seretean was appointed to the boards of the Hawks, the Atlanta Braves and Turner Broadcasting Systems (TBS) and served on all three for 20 years. In September of 2003, Seretean was among a group of investors who formed Atlanta Spirit LLC and purchased from TBS and its parent company AOL Time Warner, the NHL’s Atlanta Thrashers, the Hawks and operating rights to the Philips Arena.