400,000 people severed their cable TV connection during the second quarter of this year, more than in any other time in history. Still, Time Warner CEO Jeff Bewkes proclaimed last week at an investor conference that cord cutting "hasn't arrived yet." Bewkes acknowledges that cable TV growth is flat, but continues to "attribute that more to the economy than a shift in viewing habits away from pay TV." As we noted last week however, new surveys have shown most cord cutters are wealthier and more educated, and often cut the cord because they're simply smarter shoppers -- wanting better value and more control over content. While many cord cutters are also doing so because of the economy and bi-annual cable rate hikes, the industry isn't really doing a lot to address the issue.