It has worked tremendously for DAF, and with good reason: Its service is industry leading.
FORBES: Ode to the O-Ring: Expertise Beats Price Pressures Every Time
While DAF was able to own service, many competitors viewed it as added value.
FORBES: Ode to the O-Ring: Expertise Beats Price Pressures Every Time
So when DAF got into financial trouble, ABN Amro looked after its own interests first.
Mortally wounded by the economic downturn of the early 1990s, DAF filed for bankruptcy in February 1993.
The banks, it seems, got better terms: Their loans were backed by plants and machinery owned by DAF subsidiaries.
Since 2006 the firm - formerly Leyland DAF Vans - has been owned by Russia's Gaz Group, controlled by Oleg Deripaska.
Omar Daf, Habib Beye and captain Aliou Cisse are also out, and coach Guy Stephan has had to improvise in defense.
For donors interested in giving mostly to their local communities, setting up a DAF at such an organization may be an attractive option.
Market leaders have been doing that for decades. gyro client DAF built its entire marketing platform around service in the nineties, for example.
FORBES: Ode to the O-Ring: Expertise Beats Price Pressures Every Time
The DUMBO Arts Festival (DAF), formerly the Art Under the Bridge Festival, is having yet another art extravaganza from September 28 to September 30.
Ultimately, it is enabling strong brands such as DAF and Marshalls to win based not only on product, but also the expertise that they can bring to the table.
FORBES: Ode to the O-Ring: Expertise Beats Price Pressures Every Time
The Teranga Lions' coach Guy Stephane has been forced to leave out striker Babacar Gueye, midfielder Amdy Faye as well as defenders Omar Daf and Souleymane Diawara who are injured.
The Chicago Community Trust, for example, invites all of its DAF holders to attend seminars where they can learn from leaders in a particular field and network with peer funders.
Unlike other DAF options, national organizations are issue and geography agnostic--a fact which can serve as both a benefit and a deterrent, depending on donors' appetites for targeted philanthropic advice.
In fact, it was such institutions that originally pioneered the DAF as an alternative to the relative inefficiency of checkbook giving or the more complicated process of establishing a private foundation.
"When people say ABN Amro is more powerful than any other economic or political creature in the Netherlands, this pretty much sets the example, " fumes James Rubin of New York-based Resurgence Asset Management, another DAF investor.
Similarly, the Jewish Community Foundation of Los Angeles operates a Family Foundation Center which provides funders of all types--including DAF holders--with access to resources and networking opportunities that help to foster intergenerational philanthropy and educate about particular fields of interest.
And while ABN Amro dismisses the fight over DAF's collateral as an aberration, U.S. investors can expect more such disputes when banks are forced to choose between their own capital and that of customers who bought bonds from their securities arms.
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