Jalopnik: jim cramer

CNBC's Cramer Picks Cummins

Ray Wert — Fri, 26 Jun 2009 14:40:00 EDT

CNBC's Jim Cramer just picked Cummins as a win on-air. Luckily, he's never wrong. Never.

CNBC's Jim Cramer: "What's Good For GM Is Still Good For America"

Ray Wert — Fri, 14 Nov 2008 18:45:00 EST

The red rubber bull-biting bald man by the name of Jim Cramer had a mouthful to say about the Motor City today — making clear his belief that if Motown gets showed D.C.'s checkbook, then we've seen the lows of this financial downturn. I tend to agree. Right now, according to Cramer, the issue isn't anymore whether you think GM deserves or doesn't deserve to be saved, it's whether you're alright with massive unemployment and an economic downturn taking this nation further into the murky unknown depths. Sounds to us like someone thinks people need to buy some "Save GM" t-shirts. That sentiment's shared by Keith Crain's Automotive News, where we saw an opinion piece today the likes we've never seen — essentially refuting an idea I'd held up until the past week, that Chapter 11 could allow for reorganization. The Op-Ed's entitled "The cost of GM's death," and you can hit the jump for the excerpts.

Let's be clear. The alternative to government cash for GM is not a dreamy Chapter 11 filing, a reorganization that puts dealers and the UAW in their place, ensuring future success.

No, even if GM could get debtor-in-possession financing to keep the lights on (which it can't), Chapter 11 means a collapse of sales and a spiral into a Chapter 7 liquidation.

GM's 100,000 American jobs will die. Health care for a million Americans will be lost or at risk. Hundreds of GM's 1,300 suppliers will die. Their collapse could take down Ford Motor Co. and Chrysler LLC, perhaps even North American transplants. Dealers in every county of America will close.

But that's not all. Here comes the call to action:

The taxpayer needs protection and an upside. GM's top management may need to go. Government-as-shareholder deserves a big voice. Those details can be worked out.
The Detroit 3 CEOs and UAW President Ron Gettelfinger had better tell two critical congressional hearings next week what sacrifices they are prepared to make.

But the stark fact remains: Absent a bailout, GM dies, and with it much of manufacturing in America. Congress needs to do the right thing — now.

What? Buying a t-shirt won't help? [Automotive News, CNBC]

CNBC's Jim Cramer: "Save GM...Or Risk A Great Depression!"

Ray Wert — Tue, 11 Nov 2008 15:30:00 EST

In between ads for CNBC's "Business of High End Prostitution" documentary airing tonight, we noticed the network's mega-mouthed Wall Street money mad-man says it's time for policy makers to "save GM" or else risk "10% unemployment" and the "Great Depression." We happen to think Jim Cramer's right. Is that Socialism? Who cares — we just read bankruptcy won't even be able to help GM because of their inability to secure financing after a declaration of Chapter 11. Yup, it'd be straight to Chapter 7 for the big automaker from Detroit. But, word on the street is that Pelosi's going to call for legislative help during the current lame duck session of Congress. Glad to hear it, because remember, the Financiapocalypse waits for no man, automaker or money maven!

CNBC's Jim Cramer Goes To NASCAR, Teaches Fans To Say "BOOYAH!"

Ray Wert — Thu, 10 Jul 2008 08:30:00 EDT

The bald-headed man out to make 'merica money will be heading "to Nascar's pit row" for his first NBC special called "The American Dream with Jim Cramer." That's right folks, "Big" Jim's jumping over to the airwaves from cable and in doing so, the Mad Money-man is looking to teach fans of the rubbin' is racin' series what making a buck is all about. Although you'd think we'd laugh off his prospects of success, he's bringing some of the big names in "stock car" racing with him — Kyle Busch, Carl Edwards, Jimmie Johnson, Jeff Burton and Casey Mears — so hopefully a tip or two may sink in. But really, the best part of the entire show will more than likely be seeing Cramer taking a run on the circular track himself in the cockpit side-seat of a Petty Experience Nascar racer at 160 MPH. We're assuming it'll happen, considering there's a teaser clip of it up on CNBC's site. All we know is, we hope he screams like a little girl with pigtails. [The American Dream]

Jim Cramer: GM Screwed, Is The Citigroup Of Automakers

Matt Hardigree — Wed, 25 Jun 2008 08:30:00 EDT

Detroit's big players may be better off using Chapter 11 to come back from the brink says Jim Cramer, he of the Maddest Money, on BloggingStocks.com. His rationale? If gas prices stay where they are, there simply aren't enough GM products that people want, and there are way too many GM products that no one wants. He also feels a little less than bullish on Ford. Cramer is also wondering why, with automaker stock prices so low (as of this writing Ford is at a pathetic, though slightly improved, $5.32) the "value people" aren't sweeping in to buy up these companies (ahem, some are). Then he provides a Cramer-esque contradiction.

Cramer says, "We marvel that this can be happening, but the falloff in sales is so pathological that I don't see how these two just don't run out of money." He then says that if the stock bounces, the value people have a "chance to make your move!" (exclamation point his). We beg to differ. While we're not especially optimistic about the condition of the Detroit automakers, you have to be a little cracked to think the next president is going to let his term start with the downfall of one of the big three. [BloggingStocks]