Cramer's Take on Eddie Lampert's Stocks

Finally there's Motorola(MOT Quote). Lampert recently disclosed a nearly 1-million share stake in the company.

Cramer's Take: "I am also pro-activist pretty much everywhere I can find it. Richard Parsons was instrumental in making me feel that Carl Icahn's contributions are welcome. He, too, came on my show and said that. I am appalled that Ed Zander, the CEO of Motorola, doesn't welcome Icahn with open arms. He needs it."

Cramer is not a big fan of Motorola for a number for reasons but largely because of Zander. "It takes years of hard work and incompetence to make it onto Cramer's 'CEO Wall of Shame,'" Cramer said on his July 5 "Mad Money" show. When Zander took over Motorola in 2004, the stock almost doubled, Cramer said, but he didn't have what it took to keep it going.

"Ed Zander could immediately improve morale by deciding to spend more time around the house," Cramer said, and give up his CEO spot.

And to sum up his own position on Motorola, Cramer said we must read RealMoney Contributor Robert Marcin's piece on Motorola after the company's pre-announcement last week.

In his July 12 "Columnist Conversation" post on RealMoney, Marcin wrote:

Motorola's (MOT) preannouncement revealed a complete debacle. The company shipped 52 million handsets in last year's June quarter. It forecasted 35 million this second quarter.

In the past six months MOT has lost 1,000 basis points of market share in a decent handset market. In all my years I have never seen anything like this mis-execution. It's hard to understand how MOT could screw up so badly with all of their global resources. ...

The board of directors needs to recruit a completely new management team. I call it a zero-based restructuring, and it should include the entire Board's conditional resignation after a new CEO is found.

This Board is contributing to the destruction of a once powerful franchise. The company really needs a CEO with a strong operational background, unlike their current marketing-oriented chief. Changes must be made now!

To see Eddie Lampert's entire portfolio, check out the Edward Lampert portfolio and feel free to check out Cramer's Take on select Eddie Lampert's Stocks, both of which can be found on Stockpickr.com.