This is a rush transcript from "Your World With Neil Cavuto," March 19, 2009. This copy may not be in its final form and may be updated.
NEIL CAVUTO, HOST: All right. Tough times, you wouldn't know, though. What recession?
My next guest has America's most expensive haircut. Are you sitting down? Of course you are. No one watches just standing up. Anyway, nine hundred and fifty bucks for a haircut. His business is still doing quite well, despite these tough times.
Joining me now, celebrity uber-hairstylist Ted Gibson.
TED GIBSON, OWNER, TED GIBSON SALON: How are you?
CAVUTO: ... everyone knows you. I mean, you're coming here, and you're like a rock star.
GIBSON: Well, that's nice to hear.
CAVUTO: So, $950?
GIBSON: Nine hundred and fifty dollars for a haircut on Fifth Avenue between 22nd and 23rd Street in Manhattan.
CAVUTO: What do you get for 950 bucks?
GIBSON: You get me.
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CAVUTO: All right, well, there you go. And they're not cutting back?
GIBSON: No. They're not cutting back.
I think it's about the service. It's about — I think that women, especially now, in this time, want to feel really good about themselves. They want to be able to get the best service possible. And that's what we provide.
We — we — we understand the needs of what a really — a woman really needs.
CAVUTO: You have not discounted that haircut?
GIBSON: I have not discounted that haircut.
CAVUTO: I mean, the people who still pay it, do they just not eat?
GIBSON: No, I think that they just really understand the idea of service and what it means to them, that it's like going and buying a great shampoo at Target, because my products are launched at Target.
CAVUTO: Yes, Target...
GIBSON: So, it's like going and buying a really great shampoo.
I think there's things that you may want to not spend money on, but the ritual of being in the shower and shampooing your hair, you want to feel the best that you can feel, especially if you're without a job and you need to go for a job interview.
CAVUTO: All right. But you had exhausted all — then that poor woman was looking at possibly delivering pizzas, she's not going to be seeing you, right?
GIBSON: No, she's not a customer.
CAVUTO: No. Who is your customer?
GIBSON: But she would probably would go...
CAVUTO: Any hedge fund managers or anyone like that?
GIBSON: Their wives.
CAVUTO: Oh, really?
CAVUTO: OK. So, let me ask you this: I'm told that it's very super-secret who your customers are.
CAVUTO: But they're well-known celebrities.