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Swedish American Chambers of Commerce of the USA, Inc.
e-Currents
August 2024
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This newsletter contains news, updates and relevant information from the Swedish American Chambers of Commerce Inc. | |
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Dear Friends,
We hope that the August edition of e-Currents finds you well. As summer reaches its peak and many enjoy their well-deserved vacations, the Swedish-American Chambers of Commerce is pleased to introduce Per Cedergren as new Chairman of the SACC-USA Board of Directors. Per brings extensive experience from his five-year tenure as President of the regional SACC chamber in Florida. As the CEO of Coaching4Performance AB and Cimplement Inc., premier providers of leadership, sales and negotiation training. Per has amassed more than 25 years’ experience in coaching leaders from all corners of the world. Per especially enjoys coaching “Walk the Talk” and how to be a role model. You can read more about Per here. We are delighted to have Per with us!
The political landscape in the U.S. remains as active as ever. With President Joe Biden withdrawing from the upcoming presidential election and Vice President Kamala Harris announcing her candidacy on the same day, both campaign strategies and voter sentiment reshape. Former president Donald Trump has previously named Ohio Senator JD Vance his vice president for the Trump campaign, and on Tuesday August 6th the incumbent VP Kamala Harris announced Governor Tim Waltz as her candidate choice for the vice presidency. No matter who is picked VP, the role tends to go rather undetected until... Who knew of Lyndon Johnson as VP before he became the US President in 1963?
The macroeconomic landscape in the U.S. is equally engaging. With a general recession angst and a near correction of the markets on Monday Aug 5, all eyes are on the US Federal Reserve. Despite calls for urgent rate cuts, the Federal Open Market Committee (FOMC) remains optimistic about their long-term goal of a 2% inflation rate "as is" with current inflation at 2.74% - a decrease of nearly 9% over the past month. Unemployment is at 4.3% with 114 000 new jobs created in July. The Economist predicts that the FOMC meeting Sept. 17-18 will not advise a cut. Swedish inflation numbers are due on Aug 14 with a Riksbank meet scheduled for Aug 20; in May the Riksbank diverged from the Fed and cut rates to support the economy even if it might come at the expense of the Swedish Krona.
This edition of e-Currents will guide you through our upcoming SACC-Summit in Chicago which is set to gather our 20 regional chambers and members and other friends in the business community. We also provide a recap of the NATO Summit that took place in Washington D.C. in July; the rest is yours to discover, from policy corner to light entertainment!
Best wishes,
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P.S. Please feel free to contact me about our member offers and other opportunities in our business community, I will be delighted to hear from you.
Karin.hammar@sacc-usa.org
+1 (202) 415-1899
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The Swedish-American Chamber of Commerce is delighted to invite you to this year's Summit, hosted by the regional chamber in Chicago. This Summit offers an exceptional opportunity to network with businesses and professionals engaged in the Swedish-American market. Additionally, attendees will have the unique privilege of hearing from esteemed keynote speakers and panelists who are leaders in their respective fields conversing on the subject of reaching goals, in accordance with this year's theme "Reaching for the Summit".
In addition to the professional daytime opportunities, dinner and drinks will be served in a social setting with breathtaking views at the SACC-Chicago rooftop the first night, and at the incredible Italian restaurant Labriola the second night. To conclude the event, all attendees are welcomed onboard an evening Wendella boat cruise on the Chicago River, offering stunning views of the city and its magnificent architecture.
SACC-Chicago has graciously secured hotel rooms at guaranteed rates for attendees who choose to stay at SACC-Chicago´s valued members The LaSalle Chicago and La Quinta, thanks to the generosity of these hotels. The last day to book at the guaranteed rates is August 17. Reserve your room now through the button below.
SACC-USA and SACC-Chicago are very grateful for all the companies that have already signed up to sponsor the event. Sponsoring will give you an excellent opportunity to stand out to an exclusive target group, and allow you to share your message to the entire top of the Swedish-American community in one location, at one time. We will gratefully welcome new sponsors until September 1 and if you become a sponsor by August 15, you will also get your logo on the Summit tote bag that all guests will receive and wear around town. Read more about sponsorships and sign up by pressing the button bellow.
What to expect at the event:
September 18
Dinner and drinks at SACC Chicago's Rooftop
September 19
Keynote speakers and panel discussions followed by dinner and evening cruise
- Keynote: Nikki Nemarich, Axis Communications
- Reaching for Financial Success Panel
- Business Dynamics in Cultural Differences Panel
- Global Diversity Beyond Borders Panel
- Private/Public/Academia Active Collaboration and Innovation Panel
- Reaching the Summit with Team Sweden
- Keynote: Improv with Brendan Sullivan, Corporate Creativity Coach
September 20 - Internal day
Exclusive day for staff of the Swedish-American Chamber of Commerce, covering topics such as best practice, attracting new members to your chamber, and more. The event will be rounded off with a social Happy Hour.
Thank you to everyone who has already signed up to sponsor the SACC Summit 2024!
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2024 marks the 75th anniversary of the signing of the North Atlantic Treaty by 12 founding countries in Washington, D.C., marking the inception of NATO. Since its establishment, 20 additional countries have joined as Allies, with Sweden being the most recent member. During July 9-11, NATO returned to its origin by hosting the NATO Summit in Washington, D.C., the birthplace of the Alliance.
The NATO Summit addressed critical topics concerning both current and future challenges faced by the Alliance. Discussions focused on strengthening NATO’s defense and deterrence capabilities, partnerships with other regions and organizations such as the European Union, and assistance to Ukraine. NATO Allies reaffirmed their commitment to assist Ukraine and expressed their readiness to welcome Ukraine as a new NATO Ally.
To find out more about specific decisions and topics, press the button below.
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André Persson is Chief Communications Officer at SACC-USA and President and Chairman of the Board at SACC Houston. He writes and reports about American economy and politics in Swedish news magazine Fokus. Below is one of his new articles on Trump and his choice of vice president. | |
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Trump i medvind vid konventet
Valet av JD Vance till vicepresidentkandidat utstrålar självförtroende
När JD Vance utsågs till republikanernas vicepresidentkandidat tidigare i veckan var det många amerikaner som ställde sig frågan: ”JD Vem?”. En opinionsundersökning som genomfördes nyligen visade nämligen att sex av tio tillfrågade inte hade en aning om vem Vance var. Bland politiska journalister och kommentatorer var läget ett annat. För dem är den 39-årige Ohio-sodsenatorn en välkänd figur och redan för flera veckor sedan dök Vance upp som ett toppnamn i spekulationerna om vem Donald Trump skulle välja till posten som så kallad ”running mate” i sin valkampanj. Vid sidan av Vance var det framför allt North Dakotas guvernör Doug Burgum och Florida-senatorn Marco Rubio som hade liknande låga odds.
Read the full article here! (Swedish)
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Leading law firm Mannheimer Swartling recently confirmed its position once again as the most attractive law firm among Swedish law students. In addition to being voted the most popular law firm, Mannheimer Swartling also won the title as the most attractive employer in the entire legal sector for the fifth time. Delighted with the achievement, Managing Partner Jan Dernestam says one of the reasons they are consistently voted the most attractive law firm is through their ability to maintain a collaborative culture where teamwork and support are prioritized. “We have created a workplace where everyone feels valued and enjoys coming to work.”
In other news, the firm oversaw and advised HMS Networks AB’s acquisition of all shares in Red Lion Controls Inc. and Red Lion Europe GmbH this past April. HMS will use the proceeds from the share issue to repay a bridge loan facility and to ensure an efficient capital structure. HMS Networks was advised by Mannheimer Swartling, along with support from Cravath and Swaine & Moore LLP, in relation to Swedish law and in regards to certain US regulatory issues affiliated with the acquisition and the share issue.
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Alleima, developer and producer of advanced stainless steels, special alloys, titanium and other high-performance materials, has recently been very active in their innovations and development programs. In a unique collaboration with Swedish manufacturers Morakniv, Rondo Plast, and TK Pac, Alleima has been working on developing a knife that is largely made from recycled material. The companies’ aim is to produce a durable and high-quality knife for the construction sector with an all-Swedish manufacturing process, yet reduces climate footprint in certain parts of the manufacturing process. The manufacturing processes are almost entirely fueled by green energy, an exciting development from the sustainability aspect of the project.
Alleima has also been researching how generative AI can be used to make operations smarter and more efficient. Over the past few years the company has collected approximately 60,000 research reports in its archive. With their project entitled “Alleima Guru”, these reports will now live in a digital system, allowing for these previous reports to be easily accessed and their future research work to be done more efficiently. As a kickstart to the project, around 4,000 of the documents have been made searchable and the rest of the implementation will take place step by step.
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On August 6, a joint statement was released by the United States and the Kingdom of Sweden regarding cooperation in advanced wireless technology. The media statement covers the technological understandings and ambitions that the two countries share. It emphasizes the importance of collaboration in advancing wireless communication technologies, particularly 6G, recognizing the critical role of wireless networks in society and the increasing technical and regulatory demands.
The statement highlights the potential for cooperation between governments, academia, and the private sector, as well as the significance of international cooperation to promote secure, sustainable, and inclusive 6G technologies. Both nations are committed to supporting research and development, standardization, and workforce diversity, while also promoting policies that facilitate open exchange and experimentation. The statement underscores the shared goal of creating a resilient and competitive global 6G ecosystem and the intention to engage regularly to advance this agenda for the mutual benefit of both countries and the global community.
Read the full media statement here.
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We would like to take this opportunity to extend a heartfelt thank you to all interns of spring 2024 that have put in a lot of hard work and dedication into SACC-USA. We are truly grateful that you chose to share your time and talent with us, and we wish you all the best of luck moving forward.
Did you know that SACC has an alumni association? You can read more about it and join here.
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Summer is in full bloom and every Swede knows that summer equals "sommarprat" (Eng: summer talk); published audiomonologes with Swedish ikons of various fields. In this edition of the e-Currents, we would like to recommend the following talks, although we highly encourage you to listen to all of them! | |
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Karin Olofsdotter is the Swedish ambassador in Moscow, and was previously the Swedish ambassador in Washington D.C. She has also had a long and prosperous carrier with the Swedish Ministry of Foreign Affairs.
In her "sommarprat" she speaks about her first encounter with Russia and how she later, and somewhat unexpected, became a diplomat.
Listen here in Swedish.
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Oscar Stenström is a former Swedish State Secretary focused on security policy as well as the Swedish NATO negotiator during Sweden's NATO entry. He has also been the Swedish ambassador in Santiago.
In his "sommarprat" he speaks about the negotiations and political game leading up to Sweden's entry into NATO.
Listen here in Swedish.
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Thank you for reading our e-Currents Newsletter! | | | | |
