Sweden Corporatocracy - Cristina Stenbeck Fitzgibbons - Investment AB Kinnevik

ꕤ Info/Ref SOURCE as marked Summary  - Wikipedia Source Cristina Stenbeck aka Cristina Stenbeck Fitzgibbons b. NY, USA 1977 father:   Jan Stenbeck, Swedish industrialist & entrepreneur (dec'd) https://archive.is/31QAx granddaughter of Hugo Stenbeck (1890 – 1977) Swedish industrialist & lawyer founder of family company:  Investment AB Kinnevik Swedish-American principal controller of Investment AB Kinnevik Investment AB Kinnevik -- one of largest family-controlled companies in Sweden St. Andrew's School (Delaware) co-educational boarding - Middletown, Delaware founded 1929 by A. Felix du Pont (1879–1948) / fortune in chemical industry Notable alumni Adml Dennis C. Blair US Director of National Intelligence (DNI) retired US admiral served in White House both: Carter admin Reagan admin 2009, elected as Obama DNI resigned after bureaucratic battles May 2010 Georgetown University, B.Sc. joined board of family subsidiary: Invik & Co subsidiary of Kennevik (at time) subsequently moved to posts: Investment AB Kinnevik Kinnevik = investments primarily technology-based services aimed at consumers significant stakes: 50 companies in over 80 countries largest holdings: Millicom, Tele2, Zalando, Rocket Internet, MTG and Avito Kinnevik revenue: US$ 1.541 billion (2013) 1936 - Kinnevik founded as investment co -- founded by Robert von Horn, Wilhelm Klingspor & Hugo Stenbeck -- aggressive acquisition strategy of Swedish industrial companies -- Hugo Stenbeck gradually increased holdings -- 1954 listed company -- increases shareholding: Sandvik AB, high-tech engineering (tooling, metal cutting, mining, construction, stainless steel, alloys) -- increased shareholding Fagersta AB (speicalised steel) -- Major holding, insurance co: Atlantica -- several auto co 1980, under Svenska Motor AB - incl import & sales Toyota -- Comvik AB - new mobile telephony system launched -- after legal battles w/ state-owned Televerket -- satellite system for TV distribution -- state-owned monopoly battle re telecom, TV, radio -- TV3 broadcast NYE from London 1987 -- 1989, Comvik authorised to start new mobile network -- result: Millicom International Cellular formed 1990 -- 1991, first Kinnevik-run radio broadcasts -- Kinnevik, largest owner new TV4 (20%) -- launches free newspaper Metro International 1995 -- 2001 Netcom changes name to Tele2 -- 2005 - 2010 major shift shareholdings -- Millicom increase, forestry decrease -- Invik sold -- foundation laid for investments re internet businesses: - esp. e-commerce companies 2014 - Kinnevik announced appointment: -- former Goldman Sachs banker Lorenzo Grabau as CEO https://en.wikipedia.org/wiki/Investment_AB_Kinnevik Summary - Wikipedia Source Corporatocracy refer to an economic & political system controlled by corporations and/or corporate interests esp USA Economist Jeffrey Sachs described USA as Corporatocracy in book:  The Price of Civilisation 1. weak national parties 2. strong political reps of individual districts (eg large US military establishment post WWII) 3. big corporate money financing election campaigns 4. GLOBALISATION tilting balance AWAY FROM WORKERS aka 'the Power Elite' (C Wright Mills) -- wealthy individuals who hold prominent positions -- control process of determining society's economic & political policies Corporatocracy criticised re: bank bailouts excessive pay for CEO complains re exploitation of national treasuries people natural resources Referred to by critics of: globalisation World Bank (unfair lending practices) free trade agreements Edmund Phelps 2006 Nobel Memorial Prize in Economic Sciences Political Economy prof. at Columbia University since 1982 director of Columbia's 'Centre on Capitalism and Society' b. Illinois education: Amherst College,  Massachusetts second best liberal arts college in USA Amherst member of the Five College Consortium BA Amherst 1955 Yale University, Ph.D. 1959 under Nobel Prize winners: James Tobin & Thomas Schelling & ors Strongly influenced by:  William Fellner & Hnery Wallich --> economist for RAND Corporation --> returned to academic work in favour of macroeconomics research interest pursuit 2006 -  Phelps awarded Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel Royal Swedish Academy of Sciences:     Phelps work: "deepened our understanding of the relation between short-run and long-run effects of economic policy." 2008:  Chevalier of France's Legion of Honor 2008:  Global Economy Prize of Kiel Institute for the World Economy 2010:  appointed Dean of Newhuadu Business School     at Minjiang University in Fuzhou, China -- 2010 analysis -- cause of income inequality is not free market capitalism -- cause:  rise of Corporatism -- antithesis of free market capitalism -- semi monopolistic orgs & banks -- big employer confederations -- acting w/ complicit state institutions -- to BLOCK natural workings of free economy -- result:  consolidation of economic power & wealth -- attrition of entrepreneurial & free market dynamism Edmund Phelps refers to power-sharing b/w govt & large corporations financial services healthcare energy (regulation) corporate lobbying expansion & campaign support for govt reciprocity growth of [Corporatocracy] influence in sectors: financial banking merger & acquisition increased consolidation increased potential corporate / govt corruption & malfeasance dampening small business / entrepreneurial leading to stagnant economic conditions numerous details of academic & research info PRIMARY SOURCE https://en.wikipedia.org/wiki/Edmund_Phelps Alex Fitzgibbons Fait Accompli London-based international event-planning company Fait Accompli 'Ambassador' "The Team Experienced. Professional. Dedicated. And we love what we do. Meet the team behind some of the world’s most extraordinary events" [CLICK image for clarity / enlargement] ꕤ COPYRIGHT DISCLAIMER Copyright Disclaimer under section 107 of the Copyright Act 1976, allowance is made for “fair use” for purposes such as criticism, comment, news reporting, teaching, scholarship, education and research. Louis B. Susman Obama's US Ambassador to US 2009-2013 sworn by Hillary Clinton [see re:  Assange / WikiLeaks  - HERE] Louis B. Susman American lawyer & retired investment banker former US Ambassador to UK confirmed by Obama & sworn in by Hillary Clinton 2009 prolific fund-raiser for Democratic Party candidates US ambassador residences in London & Paris = retreats for Obama wealthy friends https://en.wikipedia.org/wiki/Louis_Susman Fait Accompli arranged: Buckingham Palace wedding after-party for Prince William & bride Kate Middleton state dinners for the Obamas in England when they hosted the Queen Fait Accompli celebrity entertainers:  eg Rod Stewart & Diana Ross. business partner:  Camilla Monckton Alex Fitzgibbons background: twin sister Eton College Brown University USA political science & history bar-tending marketing sold a food business joined Fait Accompli 2002 married to Cristina Stenbeck http://www.brownalumnimagazine.com/content/view/3340/40/ Archived:  https://archive.is/0fWQW ---------------------- ꕤ ---------------------- COMMENT Decided to label this large family-controlled corporate ownership empire in Sweden (and probably obviously elsewhere around globe - 80 countries: above) 'Corporatocracy', although just how much political and economic control and influence is had by beneficiaries of such large family holdings is still unclear to me. I've never counted countries.  Who even knew there's over 80 countries?  Apparently, there's 196 -- or 195 if you edit Taiwan.  Wow.  That's bizarre.  I never would have thought so.  I only ever keep in mind a dozen or so countries. Wow, I've also just discovered what a small 'corprocratic' world it is ...  It's just a hop and a skip from Sweden to America, to Britain and back, and there's sooooo much in common.   lol   ꕤ