Shutting down the 3G Nextel network at the beginning of this quarter was an unprecedented "rip-and-replace," the most massive network change ever attempted, Hesse told Cramer. He said the company wants to "keep our powder dry until the networks are great." Sprint plans to increase its 4G LTE coverage to 200 million people by the end of 2013.
Hesse said Sprint will be spending $8 billion on capital expenditures this year. In 2008 and 2009, that figure was $2 billion annually.
Hesse said he hopes Sprint could achieve a net gain on Verizon and AT&T in 2014. Replacing networks takes time, and the new spectrum will be cutting-edge. This will not be a great subscriber year, Hesse said, having lost Nextel customers as well as some Sprint subscribers during the network transition, but he is taking the long-term view.
In the Lightning Round, Cramer was bullish on
Advanced Micro Devices
Cramer was bearish on
Pacific Coast Oil Trust
Executive Decision: Jon Rich
Plastics packaging and consumer materials maker
Berry Plastics Group
(BERY - Get Report)
came public about a year ago, Cramer said. The company announced Monday the production of the only recyclable cup that can be used for both hot and cold applications, Cramer said.
So in his final "Executive Decision" interview, Cramer talked to Berry CEO Jon Rich. Cramer asked why the diminished prediction of a 10% sales drop for the third quarter, year over year.
Demand remains muted, Rich said. The consumer is still cautious and has been soft all year long. Raw material costs rose significantly, a result of increasing oil prices. In the short term, investors can see Berry as a play on the price of oil, Rick said. Long term, the company is very excited about North American shale gas discovery.
The company's new Versalite product is a breakthrough offering, said Rich. He said that 130 billion disposable cups are used by Americans every year, with 80 billion going into landfills.
The Versalite plastic cup is made entirely of #5 polypropylene. The breakthrough sustainabilty product, Rich said, uses lower energy and produces less carbon than other thermal management goods on the market.
Berry's stock took a huge hit from where it was, Cramer said, but is still up nicely from where he thought it was a buy.
No Huddle Offense
The status quo won't cut it any more, Cramer said. Look at today. Semiconductor company
bid $9.49 billion for
, the largest-ever foreign takeover of a Japanese firm. Cramer doubted that the deal will gain approval from regulators.
Greenway Medical Technologies
, fresh off an IPO two years ago, offered to sell itself to private equity firm Vista Equity Partners Tuesday, sending its stock price up 19%.
Even after a great run that has seen it rise nearly 43% this year, Cramer sees additional upside for
Bob Evans Farms
. It sells at 21 times earnings, and he could see Bob Evans trading up 20 points from its current level should
make a bid for Bob Evans' pork sausage business,
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-- Written by Scott Rutt in Washington, D.C.
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