Word: saab
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...retirement from the Grand Prix circuit three years ago, condescended to navigate for Brother-in-Law Erik Carlsson, and lost him cold-amid hot argument-somewhere west of Suez. Stirling's sister, Pat Moss Carlsson, was running second when she tried to overtake a truck in her Swedish Saab. The truck was disinclined; Pat was dislocated...
...Swedish company with the tongue-twisting name of Svenska Aeroplan Aktiebolaget is known throughout the world chiefly for its sturdy, roly-poly automobiles, which bear the company abbreviation, Saab. Few outside of Scandinavia are aware that Saab is also one of the Continent's largest aircraft producers and a bulwark of Sweden's defense effort. The company has built about 90% of its country's 700-plane jet air force, the world's fifth largest-and soon it will increase even that impressive percentage. It has just been chosen by the Swedish government to build...
...Pierre Edde, for example, went into banking after four terms as Lebanon's Finance Minister. Others made fortunes overseas and then invested in banking-notably Toufic Assaf, chairman of the Bank of Beirut and The Arab Countries, who earned millions from a wholesale business in Venezuela, and Joseph Saab, who built a bundle in South Asian mining and exporting. Saab's Development Bank has introduced modern banking to Lebanon's peasant villages, opened 35 branches in the past three years. Says he: "In even the smallest village, farmers need credit and have money hidden in the ground...
...making to make jobs. The real advantage of defense contracts is the research sophistication that may pay off in commercial products. Out of its military experience, France leads the world in the development of STOL (for short take-off and landing) transport planes. Sweden's plane-and-automaking Saab is now turning out compact computers for the commercial market, having learned to make them for its jet fighters. Most European contractors, however, have so far found the commercial side-effects disappointing. Britain, despairing of competing in sophisticated weaponry, has decided to concentrate its technology on commercial aspects...
...Wallenbergs either control outright-or persuasively advise-no fewer than 50 Swedish companies, or more than half of Sweden's industry. Directly under Wallenberg management are most of Sweden's international companies, including plane-and automaking SAAB, the $275 million telephone equipment manufacturer L. M. Ericsson, the $500 million ballbearing producer SKF, and Stora Kopparberg, a diversified mining and mineral complex (TIME, March 15). The family also guides Stockholm's largest department store and the company that runs the city's three most luxurious restaurants. In no other industrialized nation in the world does one family...