NEW YORK ( TheStreet) -- Old dogs may not be able to learn new tricks, but Jim Cramer told his "Mad Money" TV show viewers Tuesday that old companies sure can. That's why Cramer said it pays to own not just the hottest growth stocks, but also to invest in great American companies with a long history of reinventing themselves.
On a day when
(AAPL), a stock which Cramer owns for his charitable trust,
Executive DecisionIn the "Executive Decision" segment, Cramer sat down with Farooq Kathwari, chairman, president and CEO of Ethan Allen (ETH), a stock that's down 10% so far this year, despite the company reporting a 1-cent-a-share earnings beat on an 8% rise in revenue. Kathwari said that the recession afforded Ethan Allen an excellent opportunity to reposition itself for growth and that's exactly what the company has been doing. He said every quarter earnings have been increasing faster than revenues, as the company levers itself into increased efficiency. Ethan Allen is also rewarding shareholders with a recent 29% boost in its dividend.
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