Cramer's 'Mad Money' Recap: Why Starbucks Will Rebound

While Cramer feels there is something to salvage at Starbucks and Bear Sterns, that's not the case with the firings at Sallie Mae (SLM Quote) and Krispy Kreme (KKD Quote). The former, he points out, are broken stocks, while the latter are broken companies with considerable earnings risk.

Sallie Mae's business is changing, Cramer said, with more students opting for grants instead of loans and more graduates defaulting on the few loans they have. Business is so bad, Cramer inducted CEO Albert Lord to the top spot on his "Wall of Shame."

Krispy Kreme, Cramer says, "is sinking, no matter who runs it." It has a history of no real earnings and closing stores because franchisees are losing money. Cramer said he "would not touch KKD with a 10-foot pole."

Air Products CEO John McGlade

Cramer was once again taking the temperature of the economy by welcoming John McGlade, CEO of Air Products and Chemicals (APD Quote) to the show.

McGlade indicated that their business, like that of AirGas (ARG Quote), is also strong, with 55% of its sales now outside of the U.S. He also confirmed that the company has been able to raise prices successfully and, with shortages in gases such as helium, it's ramping up production to meet demand.

Cramer reiterated his buy on Air Products, saying that if the Federal Reserve continues to cut rates, investors could see a 25% boost in the price of stock.