Sabreliner Corp. formed July 1983 as subsidiary of NY bankers Wolsey & Co. following latter's purchase of Sabreliner Division from Rockwell. Based St Louis, with another site at Long Beach, Sabreliner announced new Model 85 in 1984 but by 1992 had still made no commitment, preferring to support and update 600 aircraft previously in service. Investment partner sought for Model 85.