'RealMoney' Radio Recap: Lampert Lights It Up

Eddie Lampert's now got his own man running Sears Holdings (SHLD), James Cramer said on his "RealMoney" radio show.

Cramer acknowledged that Thursday's numbers were disappointing, but he said the change atop the big retailer is far more important for investors. "These numbers were former CEO Alan Lacy's numbers," Cramer said Thursday afternoon. "Alan Lacy did nothing at Sears. He would have done nothing with Sears and Kmart."

But now, with the installation of Lampert lieutenant Aylwin Lewis, Cramer believes "the vast bulk of the pain is over at Sears." Now is the right time to buy.

Elsewhere, a "stock you have to own," said Cramer, is Altria (MO). Morgan Stanley issued a report Thursday on Altria saying the company would be worth $105 a share if it split up its tobacco and food businesses. The main problem with the stock has been litigation risk, said Cramer, and that risk is going away. Altria has only two lawsuits pending against it, and Cramer thinks Altria will prevail in both. The stock fetched $72 and change Thursday.

A caller asked about First Marblehead (FMD). Cramer said despite disappointing quarterly results last month, he is encouraged by recent insider stock purchases.

In the "Stump Cramer" segment, in which listeners ask about obscure and not-so-obscure stocks, Cramer was asked about Johnson Outdoors (JOUT) and Rambus (RMBS). Cramer said Johnson Outdoors was a "sleepy" company that would make a great combination with Jarden (JAH), which owns Coleman. Cramer would rather own Jarden than Johnson, though.

Cramer was not a fan of Rambus, saying Rambus was vulnerable to video-game component price wars. The only component maker Cramer likes is Marvell Technology Group (MRVL) because of its proprietary technology, he said. Cramer's favorite way to play the upcoming video-game cycle is via GameStop (GME), he added.

In response to a listener's question about hurricane cleanup plays, Cramer said most cleanup stocks have already priced in the good news. The only stock in that group Cramer still likes is Caterpillar (CAT).

Finally, a caller asked about Calpine (CPN), which was trading higher Thursday after the company announced it would form an energy trading operation with Bear Stearns (BSC). Cramer said the news isn't important and that Calpine's stock "isn't worth owning." Shares of Calpine traded at $3.15 Thursday.

	1.	Pigs Get Slaughtered		2.	It's OK to Pay the Taxes
	3.	Don't Buy All at Once		4.	Buy Damaged Stocks
	5.	Diversify to Control Risk		6.	Do Your Homework
	7.	Don't Panic		8.	Buy Best-of-Breed
	9.	Defend Some Stocks		10.	Don't Bet on Bad Stocks
	11.	Own Fewer Names		12.	Cash Is for Winners
	13.	No Regrets		14.	Expect Corrections
	15.	Know Bonds		16.	Don't Subsidize Losers
	17.	No Room for Hope		18.	Be Flexible
	19.	Quit When Execs Do		20.	Patience Is a Virtue
	21.	Be a TV Critic		22.	When to Wait 30 Days
	23.	Beware the Hype		24.	Explain Your Picks
	25.	Find the Bull Market