When asked about China, Pinchuk explained that unlike the U.S., where cars on the road average 11.5 years old, in China they're mostly new, meaning the repair wave is only just beginning.
Finally, Pinchuk touted the oil and gas industry as another area of growth. He said Snap-on is making tools that no one else makes for that growing sector of our economy.
Cramer said he remains a big fan of Snap-on.
Executive Decision: John McAvoy
In his second "Executive Decision" segment, Cramer sat down with John McAvoy, president and CEO of Consolidated Edison (ED), the New York-based utility with a 4.5% dividend yield.McAvoy said he's probably the only CEO who will ever come out and encourage people to use less of his company's product, but that's exactly what ConEd is doing with many new "smart technology" initiatives. He showed off new smart wifi thermostats and smart air conditioning controllers specifically made for window units, both of which help customers use less energy. When asked about solar energy, McAvoy said ConEd wants customers to make any energy choices they want; while Con Ed is not yet in the solar installation market, it will help customers tie their solar systems into ConEd's network. ConEd currently has 400 megawatts of of solar-generated capacity on its grid. Turning to the issue of an aging infrastructure, McAvoy said ConEd has an aggressive renewal program that invests $2.5 billion a year into upgrading infrastructure. He said ConEd also upgrades about 800 to 1,000 buildings a year from costly oil heat to cleaner and more efficient natural gas systems. Cramer said investors looking for both consistency and yield should have ConEd in their portfolios.
CNBC SilverCelebrating the 25th anniversary of CNBC, Cramer took a moment to talk about how business has changed over the past 25 years, and what it has meant to him to be a part of it. Cramer said when CNBC first started he was skeptical the new network would ever work. Back then, he said, the notion of having a TV in your office and watching TV while you worked was ludicrous. But business news was very limited back then, and CNBC soon proved its worth and gained traction.
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