C. Michael Armstrong, Chairman of Comcast

This is a partial transcript from Your World with Neil Cavuto, September 11, 2003, that was edited for clarity.

Watch Your World w/Cavuto weekdays at 4 p.m. and 1 a.m. ET.

NEIL CAVUTO, HOST: Two years after the big attacks, how vulnerable is corporate America?

Let’s ask a guy who knows a thing or two about it. He is C. Michael Armstrong (search). Mr. Armstrong is the chairman at Comcast, also the guy who heads up the security task force at the Business Roundtable.

Michael, good to have you. Thank you for joining us.

C. MICHAEL ARMSTRONG, CHAIRMAN, COMCAST (CMCSK): Thank you, Neil. Good to join you.

CAVUTO: Let me get your take on how much safer businesses are versus two years ago today.

ARMSTRONG: I can categorically say that business is a lot safer than it was two years ago today. We take this threat seriously. We’ve been doing a lot about it, and it is a safer workplace today from a terrorist threat, and that doesn’t mean we have things to do. We do have things to do, but it does mean we’ve done a lot.

CAVUTO: Do you ever worry, though, Michael, that corporations are vulnerable when it comes to their Internet and all these viruses and that a crafty terrorist could look at that and say, hey, I have an idea?

ARMSTRONG: Absolutely. And I think cyberterrorism (search) is one of the top priority threats this country has and particularly the business community. As you know, Neil, the business community owns, operates, manages about 85 percent of the country’s infrastructure.

So, when we talk about protecting the homeland, we’ve got to talk about a close collaboration between the public sector, both the federal, the state, and the local, as well as the business community, and cyberterrorism.

So much of today is computers, and so much of control and operations and output is controlled by software that cybersecurity is a very real risk and building the fire walls and building and embedding the security into the application and operating system software is just fundamental to protecting our country.

CAVUTO: What do you make of just the general business environment two years later? Are you surprised by the comeback not only in the economy but for that matter the markets?

ARMSTRONG: I’m delighted. I guess surprised. No, in my lifetime, I’ve never seen the convergence come together with such deficit spending, money-supply increase, interest rates low, relatively stable oil prices, and I really believe that the economy, with the tax cuts now as a boost to all of that, is going to grow.

CAVUTO: You know, it’s interesting, too, because people look at what happened two years ago and say that was really the beginning of the undoing of the economy, that it, rather than the tax cuts, led to the deficits we’re seeing now, and a lot of the problems we’re seeing now. Do you agree with that?

ARMSTRONG: Yes, I think there’s some truth to that. I think that the terrorist attack, the war on Iraq has a lot to do with the concern of the country, the political machine, the business machine, and now it’s taking a lot the resources of this country’s machine.

But, as we graduate from almost the shock and awe of what happened to us and what we had to do about it, we’re now also getting concurrently down to the conduct of our economy, and our economy is responding.

CAVUTO: Michael, thank you very much.

C. Michael Armstrong who’s in charge of making sure the businesses have some security. Business Security Roundtable head. Head of Comcast as well.

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