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Caution & Adventure. Skandinaviska bailed out many of Kreuger's companies in a rescue operation that won it the lasting respect-and the banking business-of such large Swedish corporations as automaking Volvo and the ball-bearing giant SKF. Says Lars-Erik Thunholm, 50, one of the bank's three managing directors: "Caution alone could not make banking a creative force. Caution must be coupled with adventure." By successfully coupling them, Skandinaviska has proved anew that one plus one often adds up to much more than...

Author: /time Magazine | Title: Sweden: Bankers to the World | 12/18/1964 | See Source »

...Sweden is the envied, energetic giant of the north. It has the highest wage scales, highest living standards and highest productivity in all Europe. In the past 25 years, its industrial output has trebled and has crossed the world. The auto industry's big success story is the Volvo, sparked by dynamic Gunnar Engellau, the first European automaker to build a North American assembly plant. Behind Swedish industry's plans to spend a billion dollars for new plant and equipment this year stand such powerful banking and business dynasties as that of the entrepreneurial House of Wallenberg...

Author: /time Magazine | Title: Scandinavia: And a Nurse to Tuck You In | 7/3/1964 | See Source »

...days, and Cuban patrol boats were everywhere. "Big, fast boats," recalled one of the infiltrators. "We saw ten in all." So the small band zoomed around tiny keys that lie between Florida and Cuba, testing their 24-ft. catamaran and tinkering with their boat's two 100-h.p. Volvo inboard-outboard engines. The Volvos were gobbling gas and running hot at high speed. Nevertheless, Ray finally decided that the time had come. The five FN Belgian rifles with flash suppressors, 1,000 rounds of ammunition, hand grenades and masses of plastic explosives were unloaded for a final check...

Author: /time Magazine | Title: Cuba: Can't Anyone Here Play This Game? | 6/12/1964 | See Source »

Died. Assar Gabrielsson, 70, Swedish automaker who in 1927 founded the many-sided (buses, harvesters, jet engines) Volvo Group, an efficiency-minded grocer's son who steered Volvo (meaning "I roll" in Latin) into his nation's second biggest industry (estimated 1961 sales: $350 million) and, until his 1956 retirement from its active presidency, hung onto the boxy "bumblebee"-styled auto he believed sold for utility not beauty; of cancer; in Gothenburg, Sweden...

Author: /time Magazine | Title: Milestones: Jun. 8, 1962 | 6/8/1962 | See Source »

Fortnight ago at the gala International Auto Show in Geneva, both companies unveiled the new cars which they expect to put in even more U.S. garages. Volvo showed a stylish new station wagon (less than $3,000) for suburbanites; Saab offered a hot sports model ($3,000) well calculated to capitalize on the U.S. driver's growing fondness for pizazz. So high was public enthusiasm at the Geneva showings that both Saab and Volvo are confidently looking forward to their biggest spring orders ever. Neither new car, however, will go on sale in the U.S. until it has been...

Author: /time Magazine | Title: Business Abroad: Surging Swedes | 4/6/1962 | See Source »

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