• This is a rush transcript from "Your World With Neil Cavuto," October 12, 2009. This copy may not be in its final form and may be updated.

    NEIL CAVUTO, HOST: Yum-o. It`s fancy out and frugal in.

    Well, foodies still fretting after hearing "Gourmet" magazine is closing after 70 years.

    My next guest is still cooking up big business, despite a slowing economy, though. In fact, she could be the reason why "Gourmet" is going.


    CAVUTO: Rachael Ray`s shows, books, and magazines focus on making affordable meals. Her latest is called "Rachael Ray`s Book of 10."

    She joins me right now.

    Good to have you.


    I hope we had nothing to do with "Gourmet" closing. I was a huge fan of "Gourmet."

    CAVUTO: I think it was all your fault... RAY: Yes.

    CAVUTO: ... because they`re elitists, and they put, you know, fois gras...


    RAY: That`s actually not true. I think that "Gourmet" did a really good job in the last few years, really. They had terrific, fast and affordable.

    I think they really tried...

    CAVUTO: What was fast in "Gourmet"?


    CAVUTO: I always...


    CAVUTO: ... eight hours...


    RAY: No. For a long time, they have had a eat it fast and fresh type column in there.

    I think they were trying really hard to adapt to what people could afford to cook...

    CAVUTO: Right.

    RAY: ... and time-wise and pocketbook-wise.

    I am very sad, for one, to see them go. I was a fan.

    CAVUTO: All right.


    CAVUTO: But you — I was strategy I was in a bookstore recently, and I was not kidding. I think you were the whole table and section, that all your books or there. Well over 14, it seemed like.

    RAY: You know, we have — we have had a concept that I have stuck to since day one with the books. I will not price a cookbook for more than a DVD or a C.D.

    You know, I think that what I write is pop food. And it`s sort of like pop — other items of pop culture. So, we have always tried to keep the books very affordable. And I think that`s why people can afford to pick them up maybe for themselves. But they also pick them up as a teacher gift or a neighbor gift.

    And I think it keeps the books moving, and allow — and certainly allows me to keep up, keep current. The books are really like scrapbooks of everything we have been doing on the show and in the magazine. And it`s a collection of that content. And then I add on to that.

    And the viewers really decide our content.


    RAY: ... always changing.

    CAVUTO: My crackpot theory on you is — I`m not really into shows like this. I barely can boil water.


    CAVUTO: But you`re very — you seem very real. And you seem very energetic.

    RAY: Thank you.

    CAVUTO: And you don`t — there is nothing elitist about you. And a lot of these shows, they seem to have their nose particularly stuck, you know? I don`t see that with you.