This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
EXCLUSIVE OFFER: Jim Cramer's Protégé, Dave Peltier, only buys Stock Under $10 that he thinks could potentially double or triple in the next 6 to 12-months. See what he's trading today with a 14-day FREE pass.

Jim Cramer: Parrying Another Attack

NEW YORK (Real Money) -- Wow, new attack against me: I am taking advantage of my celebrity and my wealth to open businesses that could be done by others and I am crowding them out of the space.

"The celebrity gains the most, a type gentrification if you will," says Steve C., who says that "hundreds of others in similar low paying jobs may lose theirs." He adds "celebrity ventures take away people that do it for a living."

OK, cowboy. For my restaurant I am partnered with two young people who are making a go of it after working hard at the restaurants of others. We have put ten people to work at my place and will hire more. For the inn, we have a handful of people who do the hard work. I serve the breakfast Sundays and occasionally check people in. I take no jobs from anyone and I create a whole bunch.

This restaurant business is the sixth I have started. My efforts have given probably a thousand people a very good wage and very good healthcare, the latter of which I am most proud about. I have learned much about business through these service and hospitality companies as I wrote earlier. I cannot, for the life of me, see how any of this is bad, per se. These businesses would not have been started without my capital and, I might add, my hard work because I have never asked an employee at any of my businesses to do anything that I wouldn't do, as anyone who has seen me bus tables and clean up at Bar San Miguel knows all too well.

There is no silver spoon here. I started with nothing and was destitute for a spell, living in my car, not even paycheck to paycheck because I simply stopped paying bills. I had no healthcare and got very sick, jaundiced liver, mononucleosis, you name it. I went to a farm workers' clinic for healthcare and begged for medicine.

When the collectors caught up with me, I came up with a multi-year plan to pay a little each month until I got back on my feet. I vowed never to be as poor as I was and if I could ever be in a position to create businesses, hire people at decent wages and give them healthcare I would, as I know what it's like to be down and out.

There was another bitter, brutal time in my life, well chronicled in "Confessions," where I would have told these critics to rot in hell.

Now? I just say, "FOCUS!"

Random Musings: Thanks for all of the birthday wishes. Maybe that's why I am, at 59, feeling real feisty!

Editor's Note: This article was originally published at 3:01 p.m. EST on Real Money on Feb. 10.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
DOW 16,953.79 -130.01 -0.76%
S&P 500 1,977.17 -10.81 -0.54%
NASDAQ 4,439.3480 -32.76 -0.73%

Our Tweets

Brokerage Partners

Top Rated Stocks Top Rated Funds Top Rated ETFs