Word: stockholm
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...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 exert such enormous economic power...
Sweden for Swedes. The Wallenberg who started it all was André, who visited the U.S. and Scotland as a young naval lieutenant, became fascinated by banking and founded Stockholm's first commercial bank in 1856. His Enskilda Bank became the chief funnel through which foreign capital entered Sweden, and André and the succeeding Wallenbergs directed the flow of foreign funds to finance Swedish industrialization...
European finance. Jacob, 70, a reticent bachelor, stays in Stockholm to mind the home office, while robust and gregarious Marcus, 63, jets around the world to check on Wallenberg projects and find new investment opportunities. Though they hold the chairmanship of 27 companies, the brothers prefer to own no more than 5% or 10% of any company. They really do not need more, for most Swedish companies are only too ready to submit to Wallenberg management; they know that it means expert guidance and money for expansion. Says Marcus coolly: "It so happens that the companies we have been concerned...
...expert on ancient religions was born on Stockholm, Sweden, in 1921, and received his doctorate from Uppsala University in Uppsala, Sweden. While he was an instructor at Uppsala from 1951 until 1954, Stendhal took an active interest in the Young People's religious movement and served as chaplain of the University...
...Please-please, no more!" squealed Sweden's vivacious Princess Christina, 19, airborne 16 times as friends and classmates helped celebrate her graduation from the French School in Stockholm. Proud wit nesses to the traditional toss-up were Grandfather King Gustav, 80, bearing a bouquet and Mother Princess Sibylle, 55. Christina kissed them goodbye, jumped into a flame-red Chevy convertible to tour streets jammed with well-wishers, then whizzed along to a champagne party. The fun-loving princess-bound for Radcliffe next autumn-looked like a girl who would fit right in at Cambridge...