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Cramer's 'Mad Money' Recap: Go Picking Through the Rubble

When asked about his business, De La Vega noted that AT&T has more choices in devices than it has ever had before, with strong competitors from Apple (AAPL), Android and Windows Mobile. He said the company's new tiered pricing plans have expanded the smartphone market with lower price points for light data users.

De La Vega was also upbeat about AT&T's future, noting that since the failed merger, the company has executed well and has new services in the works that will be announced later this year.

Cramer continued his recommendation of AT&T, a stock with a juicy 5.2% dividend yield.

In the second "Executive Decision" segment, Cramer once again sat down with Dan Hesse, chairman and CEO of Sprint Nextel (S), a stock that's struggled since it began carrying the iPhone.

Hesse acknowledged that Sprint is paying a hefty upfront premium to carry the iPhone, but added that so far 44% of new activations have been new customers to Sprint. He said the decision to carry the iPhone was the right one, even with the high upfront costs.

Hesse also commented on the lack of visibility surrounding the shuttering of its Nextel network at the end of 2013. He said that operating the Nextel network is very expensive and Sprint will be competing aggressively to transition as many customers as possible to a similar push-to-talk service on its new next-generation network.

When asked about the company's financial position, Hesse said he understands investors' concerns that the company is investing too heavily and burning through its cash. He said Sprint wanted to invest as soon as possible in both the iPhone and its Network Vision LTE network, and ultimately chose to do so at the same time. That said, the company has also been able to successfully raise cash. Hesse said he doesn't feel the company is at any financial risk.

Finally, when asked whether Sprint may be interested in purchasing rival MetroPCS (PCS), Hesse responded with a "no comment."

Cramer said he's a believer in Sprint's turnaround efforts.

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