Executive Decision: John Ferriola
For his second interview, Cramer sat down with John Ferriola, chairman, president and CEO of Nucor, on location at its new direct reduced iron, or DRI, facility near the Gulf.
Ferriola said Nucor's new DRI facility makes the company more competitive by both reducing costs and creating a higher quality product than imported steel competitors. He touted the low cost of natural gas as a "game changer" for his industry, as DRI production requires an immense amount of energy.
Nucor operates a DRI facility in Trinidad, Ferriola noted, yet in just two months of operation the new U.S. facility is running at 95% capacity with higher production and higher-quality output. The plant also affords Nucor more control and security than its overseas counterpart.Rather than importing DRI and other raw materials from places like Ukraine and Venezeula, Ferriola said Nucor is happy to make its own high-quality materials right here in the U.S., and the company already has plans to add a second furnace to the location.
Executive Decision: Jim BrownFor his next interview, Cramer sat down with Jim Brown, Western hemisphere president at Halliburton, to see how that company's business has transformed since the two last spoke nearly three years ago. Brown said that just like on land, technology is changing the way every aspect of drilling is done. With wells costing in excess of $130 million to build, every ounce of technology can make a big difference, he noted, which is why Halliburton specializes in mature and deep-water applications. Brown explained the three big trends in the industry include new seismic technology that helps locate oil, directional drilling that helps get to the oil, and multi-stage completions that gets more of the oil to the surface. All of these trends produce more oil while ultimately lowering costs for each well. When asked about America's newfound reserves, Brown said the reserves are indeed down there, it will just take a resilient and creative industry to go get it, something that is happening every day all over our country. Even in the back office, Brown said Halliburton is hard at work with a project it calls "Battle Red," which includes the digitizing of timekeeping, dispatching and real-time inventory to help make the company more efficient at everything it does.
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