Time Warner Cable (TWC) says deliquencies are rising

Time Warner Cable Inc.'s (NYSE:TWC) CEO Glenn Britt told the Goldman Sachs Communacopia Conference today that the cable TV operator is seeing a small increase in bad debt from subscribers in subprime housing areas. This was noted as a "little uptick" from customers who could not pay their bill in markets populated with subprime home loans.

The funny thing is that is this is historically a counter-trend. When times get tough, people may cut down on going out to eat or spending in other areas, but cable has traditionally been a good recession-proof business because families stay home more. Obviously, with the Triple Play scoring larger wins, this makes for higher subscriber prices and that might explain part of it.

The company signaled that it would not be increasing discounts for triple play in subprime ridden areas in an effort to retain subscribers. Britt also noted the cable company is interested in making strategic acquisitions where it can, although not on an overly aggressive basis.

Comcast Corp. (NASDAQ:CMCSA) will have its COO presenting at the same conference at 2:50 PM EST today, so it will be interesting to see if they have the same reports. It's hard to imaging they would be immune.

Supposedly one of the economic issues that Ben Bernanke investigates is what is going on with cable bills.

Jon C. Ogg is a partner in 24/7 Wall St., LLC; he does not own securities in the companies he covers.