Dick Parsons discusses business on CNBC

Dick Parsons, Chairman and CEO of Time Warner Inc. (NYSE: TWX), was on CNBC today for the Power Lunch segment. CNBC was featuring the heavy hitters of NYC business at various personal interviews at the Four Seasons. Some of the other guests were Mark Cuban, Martha Stewart, Donny Deutsche, and others.

Please pardon the lack of quotes as this was typed live and it is hard to get every word in for formal quotes.

Dick Parson noted that business overall in the economy is good. He noted strong numbers for their products for several years and is feeling pretty good about business. He also noted the difference between big ticket items and small ticket items, and he said small ticket items are still doing well -- like basic spending and TV's and the like. He noted that big ticket items like houses and cars, and said that housing particularly had to cool.

Parsons said TWX has been doing well in cable, and he noted that the cable platform is the most robust platform out there. To be able to bundle in a triple play phone, cable, and high speed Internet access is the best mix out there.

Ad revenues fell in newspaper and magazines; but Internet and cable and cable networking has been taking that up and the company is big in those. The comment about that side of the business being essentially called a hedge has made the TWX portfolio look better than some of the pure-plays out there. He noted the Street is starting recognize the value of the TWX model.

There were not any specifics given or any details into the units and current initiatives or spin-off plans. But it is good to get some public comments from the head of the company.