Word: wallenbergs
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...Swedish language as a symbol of the shake-up and the clean sweep is tall, squarejawed Curt René Nicolin, 42, one of Sweden's brightest young businessmen and the chief troubleshooter for the family that controls or persuasively advises more than half of all Swedish industry, the Wallenbergs. Says Banker Marcus Wallenberg: "Nicolin has a sense and a feel for management...
...time he was 32, he had won recognition as head of the team that developed Sweden's first jet engine and commercial gas-turbine. He became STAL president in 1955, did such a good job of making the company cost-minded that he caught the eye of Marcus Wallenberg. ASEA was tops technologically, but its organization had become fat and unwieldy. The Wallenbergs moved Nicolin in to remake the firm...
Brand-New City. The financial genius behind Nimba is Swedish Financier Marcus Wallenberg, 64 (TIME, June 7), who saw the opportunities in Liberia and knitted together half a dozen Swedish mining companies and U.S. and German financial interests into a complex consortium called LAMCO-Libe-rian American-Swedish Minerals Co. LAMCO dispatched Geologist Clark to Nimba when almost everyone else in Liberia was searching elsewhere for iron. After Clark's discovery, President William Tubman's government gave the company exemption from taxes and a mining concession until 2023 in return for half ownership of LAMCO. A substantial junior...
...Wallenberg empire is run today by the most successful brother...
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...