Cramer's 'Mad Money' Recap: Strike Up the Broadband

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Wal-Mart's Bill of Goods

"Greed ... can be good. Friends in high places are even better," Jim Cramer told viewers Thursday on his "Mad Money" TV show, which is another reason he's bullish on Wal-Mart (WMT Quote).

Cramer, who has been bullish on Wal-Mart since late September because of improving stores and a slowing economy, said Wal-Mart is fighting a bill in the Maryland legislature that would require large employers like Wal-Mart to spend 8% of their payroll on health benefits.

Cramer said Wal-Mart hired the wife of a state senator who voted for the bill the first time around to help in its efforts.

While the move may be "shameless," said Cramer, from a business perspective, he likes Wal-Mart's moxie. "If you were worried they were losing their edge with all their attempts to look like a better corporate citizen, worry no more!" exclaimed Cramer.

Whether Wal-Mart is successful or not in its attempt to fight the bill, "You buy some Wal-Mart, still!" he said. The stock has "a lot more upside to it."

Cramer is bullish on Israeli wireless broadband connectivity company Alvarion (ALVR Quote) as a play on the expected growth in WiMax.

WiMax, said Cramer, could be huge as it has a range of 30 miles as opposed to WiFi, which is measured in feet.

Alvarion has made a profit in just two years of its 10-year history, though, said Cramer. But, at $7.67 -- where the stock closed Thursday -- the stock is cheap, he said.

Cramer believes that Alvarion's stock has bottomed and that the catalyst for the stock to move higher should come early next year when industry standards for WiMax are expected to be decided upon.

Asked about the possibility of Alvarion getting acquired, Cramer said he never speculates on takeovers when a company's earnings are declining. He is "playing it for the earnings, and they've got to come back."