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RealMoney Radio: Nothing but Net

TheStreet.com Staff

The old media can't seem to make enough money from the Web because the companies are too busy balancing the losses they are taking from their print businesses, Jim Cramer said on his "RealMoney" radio show Monday.

For example, Tribune (TRB Quote - Cramer on TRB - Stock Picks) will "most likely will be dissected and sold because it has no growth," he said.

In addition, the New York Times (NYT Quote - Cramer on NYT - Stock Picks) should sell its profitable broadcast businesses if it hopes "to ignite some positive revenue numbers"; and Time Warner (TWX Quote - Cramer on TWX - Stock Picks) is "selling off its core magazines because those publications have no growth whatsoever," Cramer said.

Although these companies are trying to find how the Internet is working for them, Cramer believes that they will not be able to make as much money off the Web, as they would be able to with their core businesses.

Now there are Web sites such as MySpace, YouTube and Facebook -- "every one of which is worth more than the New York Times, if you had to buy them in an open market," Cramer said.

What old media companies might need is a change at the top of management because they don't "really get new media," he said.

In Cramer's "Frequently Asked Questions" session, he talked about what people interested in getting into the Wall Street business need to do.

"The easiest way to get on Wall Street and make something of it is to go to business school and take a Chartered Financial Analyst exam," he said.

Also, Cramer suggested taking accounting to prepare or taking a language.

"You have to have some schooling -- or know someone," he said. "You have to have an edge" because there are too many people for too few jobs.

Another way to get a job is to get a job as anything, even a secretary, at a in a mutual fund, Cramer said. It's a "rough way" to get in, he admitted, and in many cases Wall Street is looking for credentials.

At his hedge fund, Cramer said he didn't look at credentials but looked for people who had the "hunger" to make money.

He also looked for accountants. Accounting is "terrific way to crack into the business as everybody needs accountants on staff," Cramer said.

To see the most recent edition of The RealMoney Radio Recap in its entirety, please click here. This recap is published every day around 3 p.m. ET.