The Hindu Business Line : `I'm not an impulsive shopper' -- David Friedman

You do require some fortitude to go ahead with the interview of a top executive on how he spends his money, when he answers the opening question with just one word.

"Carefully".

Yes, that's how Ford India's President and Managing Director, David Friedman, spends his money. No impulsive spending or sudden splurges for the 39-year-old American presently living in Chennai.

"Oh yes, always... I spend my money deliberately and carefully. I'm not an impulsive shopper; in fact I'm not a very good shopper at all. Not that I don't like shopping, but I'm not a good browser. I suppose I just buy what I need."

Except for books. He loves browsing through books, and small wonder ends up buying a lot of them. "At any given point in time I have half a dozen books around me which I am about ready to read."

One by V.S.Nainpaul is on his table and this is one of the many books he is reading on India.

He buys his clothes himself. One is surprised to find that the top honcho at Ford India doesn't reel off the more expensive labels when it comes to his clothes.

When asked to name his favourite brand, Friedman says simply, pointing to the pair of trousers he is donning, "I guess I'm wearing it. Dockers. I like its khaki trousers. I wore its khaki trousers as a teenager and I still wear it."

He used to be fond of wearing jeans while in the US, "where it is cold and jeans do keep you warm. But in India.. particularly Chennai, it's too hot for jeans. So these light cotton trousers are just fine."

Of course he needs to invest in the jackets and suits for formalwear... "but I don't need that in the office." Thank god, are the words you hear, without his having uttered them!

As for watches, he says he does have a few good ones. But you'd be disappointed if you were looking for brand names like Rolex or Omega. He's very happy to remove the sleek watch he is wearing ... and as it comes off the wrist, you are surprised to find it's a Titan watch.

To your expression of surprise he says, "Oh yes, it's a Titan. But just look at it ... it's nice and thin and just what I need. Not only is it not too expensive (under $100), I don't need my reading glasses to see the time. So it's very practical, it has a leather strap which is very comfortable." It's a Titan Edge, and he turns it sideways to show you how slim it really is.

The clinching argument of course is that, "its sort of stylish and it looks like the Mondeo, (the latest in the luxury segment of Ford cars launched in India) it's black and crome!"

As for the pens he carries, the brand is Mont Blanc. Of course. Actually there are two sitting there in his shirt pocket; one a pen and the other a pencil. "And that's it. I don't have a whole bunch of them."

Comfort and quality are the two key words that define anything he buys. "I guess if you're going to spend money, you should spend it on something which gives you good function, is of good quality and lasts a long time," he says.

Moving over from consumables to his investment, Friedman does believe in a systematic investment plan. "My father taught me that," he says very proudly, remembering his father who was an academician. "When I was a little boy, on my birthday, and for Christmas, my grandmothers would each send me a cheque. It used to be a big event and off I would go with the cheques to the bank. Not only that, I even banked in a different bank from my parents. So I had my own little account and I would put the cheques in it. I suppose that responsibility at a young age did me good!"

As a child he grew up in Virginia. As for his investments, he puts his money both in equity as well as debt instruments or fixed deposits. "In the US we have a mutual fund that mirrors the S&P 500. It's more like an index fund. So you can say that you are investing in the growth of America. So if America is growing, your money will grow with it. And I don't have the time to individually monitor equities."

As for investments in real estate or owning a farm he says, "Oh no, no farm. If I had a farm I wouldn't know how to take care of it. But I do have my family house in Virginia. Of course, here I live in a rented flat."

What about fragrances? Is he fond of any particular brand or does he use them at all?

"No, but I bathe regularly and that's it", he says with an impish smile.

When it comes to liquor, he is fond of the better-known bands. You suggest Blue Label.

"Oh, Blue Label is very good," he says with a twinkle in the eye. "But you can't have it every day or else the novelty will go away". But what really fascinates him are the after dinner drinks or the liqueurs. But he has no fad for getting a collection of them. "Though my father always liked after dinner drinks, particularly when he had company. He had a whole collection and that was a perfect thing to give him for an occasion like his birthday ... the liqueurs and the brandies. He had a wonderful collection, but would never drink alone at home. But during gatherings he would love to pull out the bottles and say: Come and taste this one."

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