Word: wallenbergs
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...mood. Perception One: The U.S., while desiring some change-tax relief, an end to the war -remains too determinedly centrist to elect a candidate who talks of tampering fundamentally with the nation's economic structure and defense policies. The center, Political Analysts Richard Scammon and Ben J. Wallenberg wrote in 1970, is "where viclory lies. The greal majority of the voters of America are unyoung, unpoor and unblack. They are middleaged, middle-class and middle-minded." This is the America that former Nixon Campaign Worker Kevin Phillips adumbrated in his thesis about "The Emerging Republican Majority...
Last week the Wallenbergs announced the creation of a bank befitting the rest of their empire. On Jan. 1, Stockholms Enskilda will merge with Sweden's second largest commercial bank, Skandinaviska Banken, to form Skandinaviska Enskilda Banken. The new bank will have assets of $4.2 billion, not quite large enough to rank among FORTUNE'S top 50 foreign banks but supreme in a country of 8,000,000 people. The two merging banks will disappear; Marcus Wallenberg, 72, will be chairman of the new enterprise, and his 47-year-old son Marc will be assistant managing director. Lars...
Unobtrusiveness is one of the reasons the Wallenbergs have been able to hold on to their empire in socialist Sweden. The family owns enough stock to control only a few firms directly, including the Providentia and Investor holding companies. But those companies, in turn, have controlling interests in a number of other firms, and so on. That technique of effective control, known in Sweden as the Wallenberg Grip, is the embodiment of the Wallenbergs' family motto, Esse non Videri (To be, not to be seen...
...Bethlehem's Edmund Martin, Columbia Broadcasting's William S. Paley, President Orville Beal of Prudential Insurance, and Texaco Chairman Howard Rambin Jr. Among the foreign bankers: Director Otmar Emminger of West Germany's Deutsche Bundesbank, Governor Louis Rasminsky of the Bank of Canada, Vice Chairman Marcus Wallenberg of the powerful Stockholms Enskilda Bank...
...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...