Leasing: the yen for American clients. (Japanese purchases of U.S. leasing corporations)

THE YEN FOR AMERICAN CLIENTS

The volatility of the leasing industry has meant incessant mergers and acquisitions. Seafirst sold its leasing subsidiary to Metropolitan Life, which also bought Litton Industries Credit Corporation.

Equilease, the leasing subsidiary of Allied Corporation, is said to be available, though it may be attempting a leveraged buy-out. Ingersoll Rand’s equipment finance unit, too, may be for sale.

The broken-up parts of AT&T have been building up leasing capability: AT&T itself has hired Tom Wajnert, from USLeasing, to develop AT&T Credit.