Mucci was more upbeat, however, on his company's health insurance initiatives. He said that business grew by 20% last year. As health-care reforms kick in, Paychex has become the defacto expert on what businesses should do to stay compliant with the new laws.
When asked what Washington can do to help the economy, Mucci said simply, "Get it done." He said any budget deal will give businesses the certainty they need to start growing again.
Cramer said Paychex is a good business that's only getting better with the economy. In the meantime, the company's 4% yield pays investors to wait.
Helped by Diversification
In his second "Executive Decision" segment, Cramer spoke with Tim Main, outgoing president and CEO of contract manufacturer Jabil Circuit (JBL - Get Report), which delivered a five-cents-a-share earnings beat on higher than expected revenue. Shares of Jabil popped 7.4% on the news.Main said Jabil was helped by its diversification into multiple industries. He said the company's materials and services businesses alone now account for 31% of sales, and those have nothing to do with Jabil's traditional electronics manufacturing segment. Main was also candid about some challenges that his company faced in this most recent quarter, challenges that are now largely behind it and won't be repeating. He said gross margins are improving now that Jabil is moving forward. Among his company's many segments, Main noted that TV set-top boxes were not as robust as usual for this time of year, but snark phone handsets, especially in the high-end, continue to be strong. He said that mobility is still in its early innings as new devices change how we interact with content and media. Cramer thanked Main for his many years of service and said he looks forward talking to Jabil's new CEO in the upcoming quarter.