News

Mobile Website – SACC E-Days goes mobile! http://mobile.sacc-edays.org

Press Release (pdf)
The Swedish-American Entrepreneurial Days is the most important annual business trade and networking event between Sweden and the U.S. – all categories. It has proven to be an unmatched success in Trans-Atlantic trade, commerce and investment. The recent E-Days in Stockholm 2008 and in Savannah, GA, in 2009, attracted nearly 800 participants from all over Sweden and across the U.S. representing many different industries. More than 1,200 pre-scheduled business matchmaking meetings took place during these two events which have resulted in a number of new business relations.

Visit the SACC E-Days Mobile Web Site: http://mobile.sacc-edays.org

”Mobile eGuides/ mobile web sites for events and fairs like the SACC E-days with information about the program, speakers and travel information is a good example of good usability for mobile web sites” says Martin Strempel, Founder & CEO of Fourstream®

About SACC-USA
SACC-USA is the umbrella organization for 19 regional Swedish-American Chambers of Commerce across the United States. We serve more than 2,300 members in Sweden and the U.S., which makes us the second largest European Chamber of Commerce in the United States.

For more information about the SACC E-Days Mobile Web Site / App, please contact:

Martin Strempel, Founder & CEO, Fourstream®
Phone: +46709412662 +46709412662    
E-mail: martin.strempel@fourstream.com
Internet: www.fourstream.com
Mobil Web Site: http://m.fourstream.com
 

Business Boot Camps and Power Networking at Edays in Gothenburg

On November 8-10 – in about five weeks – hundreds of Swedish and American businesspeople will come together in Gothenburg, Sweden’s second largest city located on its West Coast. They will attend the Swedish-American Entrepreneurial Days. “It will be our best Edays ever,” says Gunilla Girardo, who resigned from her role as President of SACC-USA in July, but continues to lead the preparations for SACC-USA’s annual business matchmaking event and conference.

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We Need to Understand the Reality on Wall Street

Doreen Mogavero, Mogavero Lee & Co,:

By Hans Sandberg

"I’m more careful with other people’s money than my own, "says Doreen Mogavero, who at 19 began as a teletypist at the American Stock Exchange (AMEX) and at 25 became a member of the New York Stock Exchange (NYSE). She will participate in a key panel about the global financial crisis at Edays in Gothenburg.
 
The financial crisis has left many investors scared and skeptical. Add to that the painfully slow recovery of the U.S. economy, where unemployment still hovers close to ten percent and trust is a rare commodity. No wonder than that she says that most of the trades today are done by professionals, while most people stay on the sidelines.
 
"The buy-and-hold investor is for the most part out of the marketplace," she says, adding that "the Baby Boomers, people over 55, are interested in preserving their investments as they can’t afford to lose their retirement money. They will be slow in returning to the market as long as they are scared by the uncertainty." 
 
Financial turbulence is not a new thing for Doreen, whose father William Earle was a member of AMEX. He taught her the trade including even how to do the hand signals which are still used at some trading pits (f oks the Chicago Mercantile Exchange). http://www.pbs.org/itvs/openoutcry/trading2_2.html
 
Women were rare when she started at AMEX, but she loved the work became a floor broker at NYSE five years later. She was then the youngest person on the floor, and in 1989 she started her own firm – Mogavero, Lee & Co, Inc. That was two years after the Black Monday of 1987 which left the markets nervous for several years. People warned her and besides, she was the first woman to launch her own floor based brokerage business. But she persisted and in 1994, she a seat at NYSE and became the only woman in that role when the NYSE Group went public. Nine years later, in 2003, she became the first woman from the floor appointed to the NYSE Board of Executives. "We made it through the difficult times, and we are now in our 21st year," she says.
 
Wall Street is not for the weary, and the last decade has been even more challenging than the first. She recalls the 9/11 attacks, and the economic and technological turbulence over the past nine years. The new technology – mainly IT and telecom – has on the one hand given big firms certain advantages as they can afford to build customized software, but smaller firms can on the other hand buy advanced products from third party firms. 
 
Doreen Mogavero is excited to visit Sweden, which will be her first visit there. She will take part of a panel with the title: "How did the Financial Crisis Change the Market Conditions and How We Have Moved Forward."
 
She wants to convey to the participants of Edays that Wall Street is a more balanced view of Wall Street. "The bulk of Wall Street employees need their jobs, make a much more modest living than one would think, take their jobs very seriously and are very conscientious about the way the approach their clients finances because they realize how important it is to their future. They are hardworking and dedicated."
"People are familiar with the details of the crash, but they need to hear about what we are doing on the New York Stock Exchange, what small firms and businesses like mine are doing to win the back the investors’ confidence. That is the challenge, because people are still frightened and there is certainly enough uncertainty in the world today."
 
Wall Street is today facing a regulatory overhaul, there is also a need for more investor education. "The New York Stock Exchange supports changes in regulation, but it is also stressing the importance of financial literacy. Education helps to promote confidence. Investors are not expected to be experts but should have enough information and knowledge to be able to evaluate the bigger picture regarding whether or not their advisor is steering them in the best direction. The financial media has been critical in helping the average investor understand the markets and take more control over their financial decisions," she says.

Staffan Jufors, Volvo Trucks:

I See a Very Strong Interest in E-Days Gothenburg

"Both the Volvo Group and Volvo Trucks have a strong presence in the U.S., and I personally believe strongly in developing our relations with North America," says Staffan Jufors, CEO of Volvo Trucks Corporation, which is the world’s second biggest manufacturer of large trucks.   
 
"Edays is a very interesting concept, which can support the business community in and around Gothenburg. I like the fact that we can do this in a simple and pragmatic way. It can help build a contact network between the region and corresponding business interest in North America and the U.S.," says Staffan Jufors who is Chairman of the Advisory Committee for the upcoming Entrepreneurial Days conference and matchmaking event in Gothenburg. "It is important to help build relationships with the U.S., both for us, our suppliers and companies in other sectors of our region," he says.
 
Staffan Jufors is a Volvo veteran, having worked at the Swedish car and truck company for close to four decades. He travels a lot to the U.S., mostly for work, but also to visit his son and his son’s family, which lives in Virginia Beach in North Carolina.
 
"My impression from the meetings we’ve had at the Advisory Board is that there is a very strong interest in E-Days. We have representatives for a number of business sectors, municipalities and the public sector. We have banks, energy technology, electricity, and the health care sector. Everybody really wants to come together and make this a success," he says. "Decision makers in West Sweden have shown a strong interest in E-Days. My impression of SACC-USA’s role in this is also very positive. They always come very well prepared to the meetings and act professionally," he adds.
 
Volvo Trucks today employs approximately 20,000 people globally. It manufactures at 8 wholly-owned assembly plants and 9 factories owned by local partners. Most of the production is located Sweden, Belgium, Brazil and the U.S. 95 percent of its trucks weigh in at 16 tons or more. It is an international operation with sales in over 140 countries.
 
The global financial and economic crisis that began in September 2008 has had a large impact on Volvo Trucks, but the market is improving. Staffan Jufors says that demand is strong in South America, many parts of Europe and the Middle East, but the North American market is still struggling to make its way out of the recession. Add to that that the impact of changing emissions standards. In 2006 many U.S. customers bought trucks in advance of tougher emissions requirements beginning in 2007, which led to a peak of 350,000 trucks sold, but worsened the slow-down in sales when the recession hit.
 
Long-term he is optimistic about the U.S. market which normally represents 20 percent of Volvo Trucks global sales. When it comes to the increasing environmental standards, he doesn’t see that as a technical problem – Volvo can deliver for most alternative fuel platforms. "It is important for us that our politicians decide what kind of fuel society and industry should focus on. This would give us guidance as we continue to develop new engines. It would also enable the growth of distribution networks we need to fill up our trucks. Getting a new fuel into the market requires cooperation between several parties," say Staffan Jufors. 

U.S. – NORDIC Venture Capital Trade Mission

Now it is time for US Venture capitalists to apply to become one of 10 in the delegation going to Finland and Sweden in November for “Navigating Nordic Innovation & Institutional Investors”.

A delegation of American venture capitalists is expected to arrive in Sweden in early November, just in time to participate in SACC-USA’s Edays event in Gothenburg November 8-10. "It is the first time the department is convening a VC delegation to Scandinavia under the Obama Administration’s National Export Initiative," says Randy Mitchell, Senior Adviser for Venture Capital and Entrepreneurship at International Trade Administration, adding that it is his "job to enhance the competitiveness of the U.S. venture capital sector."

On November 2nd, Mitchell will lead a group of 10 US venture capitalists to Scandinavia to explore and meet with the Nordic venture capital market. The delegation will also attend the E-Days conference in Gothenburg on November 8-9 before returning to the US.

Read more (pdf)
Apply here

American expectations on E-Days

James E. McDonald, P.A., McLuskey&McDonald P.A.

"To learn about current Swedish activities and technology in the renewable energy field. As a principal in several energy consulting companies that have products (feedstock and technology) that will be of interest to Swedish companies, I am looking forward to meetings with those who may wish to partner with us."

Harlan Jacobs, Founder & President of Genesis Business Center, Ltd.

"The leadership of the greater Gothenburg Region’s manufacturing companies will likely be in attendance and interested in learning about bi-directional business development opportunities. The ability to have the members of this leadership group convened in a central location should be highly valuable.

A client of mine is interested in establishing a joint venture in Sweden to manufacture specialty transportation systems. The Greater Gothenburg region seems like the best place for my client to consider for the location of this joint venture. We will wish to discuss this with the leadership of this region."

Charlotte Danielsson, Founding Attorney, Infiniti Law

"SACC has clearly put together a very interesting, high-caliber program with cutting-edge information from industry experts and innovators….but the ability to ‘go beyond the lecture hall’ and actually see the innovation that has taken place in west Sweden first-hand via the Industry Specific Programs is especially exciting. The networking opportunities at E-Days are unparalleled. I know I will be able to find new business partners and clients and expand my contacts both within Sweden and the US."  

Beth Topolovsky, Founder, Stinson Partners

"As an American living in Sweden,  E-days provides me with a platform to hear a broad variety of news and updates from the U.S. business community.  The speakers are very experienced in their focal areas and contribute a great deal of details to help the audience understand their U.S. operations. In past events, there has been a nice spirit of international cooperation and eagerness to learn about how we each conduct our businesses. My expectations are to meet with business leaders one-on-one and take advantage of the time allotted to network. Stinson Partners bridges Sweden and the U.S for business expansion, investments, and networking, so E-Days is perfect business development event for me.

I’d like to meet with American investors and companies who are entering Sweden or have existing subsidiaries here, and would like an on-the-ground organization to support them in building their Swedish entities.  It’s also my goal to connect our Swedish clients with potential partners in the U.S.  I’d also like to hear about new programs developing in the States that might of interest to our clients."

James Pedersen, Partner Dorsey & Whitney

As a previous participant in E-Days in both Gothenburg and Uppsala, I appreciate what a high quality, important and substantive event E-Days can be.  I am honored to be among an impressive group of speakers and hope that I can share my expertise and knowledge about the business and legal environment of the United States to assist Swedish companies interested in the US market.  I expect that E-Days will be both informative in terms of an exchange of ideas and business opportunities and also a wonderful social event where I can meet other Americans and Swedes with whom I share an interest in furthering Swedish-American commerce.

I look forward to networking and connecting with new people and companies in Sweden, re-connecting with some old Swedish friends and, of course, developing on-going business relations with some of the people I meet.  I also hope to further promote the work of SACC as well as enjoy the cultural aspects of E-Days and relish my Swedish heritage.

Cynthia H. de Lorenzi, Chief Executive Officer, Success in the City

We are so looking forward to participating in this years E-Days in Gothenburg. Through sharing and exchanging ideas, experiences, knowledge and entrepreneurial hopes and dreams we give rise to even greater opportunities that can span a nation and the world!  To us, this is an exciting adventure, discovering Sweden, exploring a beautiful city and meeting exceptional innovators and leaders who are making strides in business. We look forward to meeting you there and eagerly anticipate learning about you, your business and exploring how we can do business together!

Georgia & Sweden: A Summer Busy with Cooperation

News from Currents Online
Businesspeople and government officials from Georgia and Sweden are working hard this summer to increase trade and cooperation. Last week a delegation from the southern Swedish city of Boras visited Savannah, and this week Georgia’s Governor Sonny Perdue will meet with Tomas Puusepp, CEO of Elekta, and Marcus Wallenberg, Chairman of the SEB bank in Sweden..

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