Cramer's 'Mad Money' Recap: Charter Course

Cheapskate Baby Boomer Play

After its breakup, Cendant's "children" are being taken over or taken private "real fast," and Cramer said he likes Wyndham Worldwide (WYN Quote) as the "laggard of the group."

This hotel company, which owns the Ramada Hotel chain and time shares, "is a great play on cheapskate baby boomers" trying to contain costs while on vacation, he said.

Time shares are perceived as great places to go on the cheap, Cramer said. While the market for time shares is not as "robust" as it once was, these vacation properties are selling better than what people think, he said.

Further, Cramer reassured those who are worried about the debt on Wyndham's balance sheet that the company is a bank that lends money "at rather high rates."

Wyndham is the one company that hasn't moved significantly since Cendant broke up, Cramer said. Two of Cendant's companies have been taken private, and he believes Wyndham deserves a takeover premium as well. "It is way too cheap."

Harsco a Go-Go

Reinvention is how companies "stay afloat over the long haul," Cramer told viewers.

Harsco (HSC Quote) is one company that has reinvented itself -- in not one but two ways, he said.

Cramer said he made the mistake of referring to Harsco as a manufacturer. As it turns out, Harsco is a well-diversified company, he said. "It is a miniconglomerate and is taking the lead in industrial outsourcing."