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Danish American Chamber of Commerce New York

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Danish American Chamber of Commerce New York DANISH AMERICAN CHAMBER OF COMMERCE NEW YORK 825 Third Avenue, 32nd Floor New York, NY 10022-7519 212-980-6240 NEWSLETTER No, 4 September-October 1987 Editors PLANNING COMMITTEE APPOINTED Erik Norup (212) 752-3448 Torben Huge-Jensen (201) 469-6476 At a meeting of the Board held September 2, Carsten Schmidt (212) 223-4545 Chamber Chairman Sederlund appointed a Planning oorte skett Hansen (212) 223-4545 Co111111ittee to consider the appropriateness of the Christian Juul Jessen (212) 254-4168 services and programs currently being offered by the Chamber and whether there are additional or other programs and services which should be offered to members. All DACC members are invited ~ NOP THE YEAR and encouraged to submit their comments to the «c: Friday, October 16, The Danish American Society Planning Committee'• Chairman, Lennard K. will honor Wilhelm Hansen, former Captain of the Rambusch, c/o Haight, Gardner, Poor, Havens, 195 Tall Ship •Danmark•, as its Man of the Year for Broadway, New York, NY 10007. The Committee will hold its first meeting early October, It is 1987 at a gala dinner dance at the Waldorf expected that the Committee's report will be Astoria. submitted prior to year end. Lennard K. Rambusch DACC BOARD OP DIRECTORS VISIT TBB DARISB FOREIGN MINISTRY The Chairman of the DACC, Flemming Sederlund, and five members of the DACC Board of Directors visited the Danish Ministry of Foreign Affairs on July 2, 1987. Mr. Roy Bork, representing the Danish American Chambers on the West Coast, participated in the luncheon, which was hosted by Ambassador Jan Marcussen, head of the Ministry's trade department, During the luncheon there was ample opportunity to make new contacts with the Ministry's representatives, and in his speech Flemming Sederlund extended an invitation to Ambassador Por further information, please contact: Marcussen to visit the DACC, when in New York. Lis Hansen, Secretary One of the topics of the luncheon was the risk of Danish American Society new trade restrictions being introduced between 655 Third Avenue, Suite 1810 USA and the EEC, In a short presentation Henry New York, NY 10017 Greenebaum gave an evaluation of the pending (212) 949-2322 negotiations seen from the u. S. meat industry's point of view. Captain Hansen will be Special Guest of Honor at the next DACC Luncheon October 21. cs GEORG JENSEN SILVER IN HIGH DEMAND NOVO INVESTS IN NEW FIRM IN THE U.S. According to the New York Post there is a high Novo Industri A/Swill invest $3.5 million in the demand for Georg Jensen silverware i n New York. establishment of a research firm in California in collaboration with two U. S. investors. The firm The Geor g Jensen silver in Gracie Mans i on was will be managed by the well- known Danish cancer attempted stolen on September 24, when a burglar scientist, Lennart Olsson. was caught with his hands in Mayor !Coch' s silverware drawers. DSH cs Copyright by the editors of the News~1 tt er. All rights reserved. Written permission required for reproduction in any form. -2- '4 PROVINSBANltEN« NEW YORK 1 EXPANDS PREMISES MEMBERSHIP NEWS Provinsbanken is just about to fin - Niels R. Olsen, a DACC member, is leaving the expansion and renovation of its prealiize ainlll&jo. Tower, 499 Park Avenue. m Ses , Scanticon Corporation after five years to become Par\ President of the n~~ly formed Princeton Hotel Management International, Inc. Princeton Hotel The total square footage is approx 1 Management International will offer management there is room.for a little less than·50 °,ooo, and systems to small and medium sized hotels. Other the new premises. The project has Jersons 1 services include planning and development, venture between_ the bank's New York ar ~n a co~ marketing and training programs. its own architects from Denmark chitect and specific Danish •touch• to th Whereby Kenneth K. Pisher, a DACC member, has been deliberately is sought being attained.e Pre111ise: appointed Chairman of the Insurance Law Committee of the Association of the Bar of the City of New •The project is a sign of the bank• York. commitment to the New . York and u • s • ......... r kset further• T age B en j am i nsen, Senior V. p. and General ' 8ays of Provinsbanken, New York, •Hopefull Manager NEW MEMBERS premises will meet space requirements Y, the ahead for us. We plan to show the new pre~~e8 Year, We welcome the following new members to the DACC: our customers and friends at an event in r:ces for We are still waiting for some details ~0 ber, CORPORATE completed• • 0 be A. Daniel Meiland Press Release Egon Zehnder Intl. 645 Pifth Avenue New York, NY 10022 STAMFORD-DENMARK FRIENDSHIP RACE (212) 838-9199 The Stamford-Denmark Friendship Race took place on Mr. Jeffrey Vernamonti September 27 under the competent leadership of Barclays Bank PLC Committee Chairman Werner Valeur-Jensen. 320 75 Wall Street yachts sailed flying the Dannebrog off St~mford on New York, NY 10265 a beautiful Sunday. Commercial and investment banking services for the Several members of the DACC participated as U.S. subs~diaries of Scandinavian corporations. captains or crew. INDIVIDUAL cs Mr. Gunnar Klintberg Holb~rg, Inc. NEW EXPORT OFFICE OPENS IN NEW YORK 545 Steamboat Rd. Greenwich, CT 06830 (203) ~61~2508 On September l, 1987, The Danish Ministry of Housing and Building opened a new office at The Investment firm dealing in mergers and Royal Danish Consulate General in New York. acquisitions with o.s., Scandinavian and Nordic countries Ebbe Johansen, former Industrial Attach~ for 5 years to the U.S. in New York, is in charge of ! Ms. Lynn Atkinson office with help from his secretary, Anne\. The Wilson Group USA Delano, 149-10 183rd Street Jamaica, NY 11413 In close cooperation with all the other C 718) 917-6150 representations from the Danish Government in North America the new office is concentrating on Pull service transportation company specializing assisting Danish companies in the construction in Scandinavia. A member of the Bilspedition Group business. Douglas Y. Crawford If you need further information, please call us, Kidder Peabody & Co, Tel: (212) 223-4545, telefax (212) 754-1904. 1225 Franklin Avenue Garden City, NY 11530 Press Release (516) 228-4161/(800) 345-3388 Investment bankers/brokers. Pull retail & DANISH CUISINE IN BROOKLYN institutional services world-wide. Equities, 1 ndra'8 corporate & municipal bonds, L.P's. On September 14 the restaurant A exaAvenue Scandinavian Restaurant opened on Atlantic •sine Irma DeMaio in Brooklyn. •we will serve Continental cui easY 20 Jefferson Street, Apt. Dl and Scandinavian speci alties, made with s~: wi ll Hackensack, NJ 07601 touch,• says Danish-born Edith ~ustonen. TuesdaY (201) 972-1995 keep the restaurant open for dinner from 11er 11 'to Sunday and offer Sunday brunch as we fo~ the chef and husband is Johan Mustonen, whoTh Royal last three years has been in ch~rge. of d c!tering Viking Caterers, a Scandinavian-inspire firm which he will continue. CJJ _ .......111111 p -3- S DANISH ECONOMY (COPENHAGEN HANDELSBANK A/S) fl! explaining the growing deficit on the balance of ~ trade. •sh economy in transition ~ish economy has for some years seen some of Th! highest growth rates in the Western world, but But the high level of economic activity also th. has also affected the current account in a contribut':d to restore the public budgets, which th15tive way - so negative, in fact, that the for the first time since 1974 showed a surplus in ne::rnment in 1986 had to change the direction of 1986. The deficit on the current accounts, though, Go economy. A growth break was what the had to be given the highest priority. Therefore th the austerity measures in the fall of 1986 eernment declared, and that meant a slower primarily affected private consumption, and GoVelopment of the domestic economy with the therefore, consequently, the level of investments. ~:;la red objective of restoring the balance of And the cure worked1 from late 1986 until now yments. But before we look further into the there has been a negative growth rate in private paonomic situation, a few words about the ec . t consumption, and the deficit of the current political environmen • accounts has decreased considerably. Our forecasts show that the deficit on the current accounts will The prime Minister, Mr. Poul Schluter from the be in the order of some Danish kroner 20 billion conservative party, called a General Election in in 1987 compared with Danish kroner 34.5 billion early September. This was about six months earlier in 1986. But of course the price will be paid by than necessary, as the Government could have the growth-break: GNP is expected to show no stayed un~il January. growth in 1987, and consequently employment will be hit. The outcome of the election is a very scattered political picture. The Government - which is a Inflation is still expected to show a moderate coalition of four center-right parties growth in the area of 4-5 per cent, and the most continues, but on a weaker basis in Parliament. important factor behind this is the labor market though the coalition is based on four parties, agreements in early 1987 which gave an overall . c is a minority government, and the two parties wage rise of some 6-7 pct. This and the expected which now constitute the parliamentary basis of developments in the international currency the goverment have so many conflicting points of situation will probably give some difficulties for view that it can be most difficult to combine Danish exports in 1988, and we therefore do not their policies with those of the Government.
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