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"Why does nothing positive ever matter," Jim Cramer asked the viewers of his "Mad Money" TV show Friday.

Cramer once again turned his sights on the business media, which seems to never have anything positive to report.

According to Cramer, the fact that

JPMorgan Chase

(JPM) - Get Report

and

Goldman Sachs

(GS) - Get Report

, two stocks which Cramer owns for his charitable trust,

Action Alerts PLUS, along with ,

Morgan Stanley

(MS) - Get Report

, want to pay back $50 billion of TARP money should've been big news today. "This is money we never thought would see the light of day," he said.

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What about the fact that

Bank Of America

(BAC) - Get Report

, a bank some thought should be nationalized just a few weeks ago, was able to raise $33 billion of capital on its own? Cramer said this too should've been news.

So should the fact that Chrysler is in bankruptcy, and

General Motors

(GM) - Get Report

is likely to follow, but the two automakers haven't taken the entire economy with them. "This is great news," he said.

None of these stories seem to matter, and that's the media's fault, he said. In their efforts to sensationalize the news of the day, good news rarely gets the same treatment as bad news, he said.

In fact, trusting the journalists' perspectives can be deadly. Cramer told viewers to always look at the big picture. "The goals of the press and the goals of investors, are not the same thing," he said.

Sitting Pretty

Cramer talked with Keith Jackson, CEO of

ON Semiconductor

(ONNN)

, a speculative technology company Cramer last recommend on May 7. The company manufactures power components for game systems, cell phones, autos and other electronic devices.

Jackson said the his company's components appear in a wide variety of products and in a wide variety of industries. Regarding autos, he said that while sales are slowing, ON Semiconductor has $15 worth of components in the average automobile, and that number is growing at 7% to 8% a year, offsetting any decline.

Jackson also noted the ON Semiconductor's exposure to China, stating that 40% of the company's sales come from that country. With the Chinese stimulus earmarking $40 billion to upgrade the country's cellular network, ON Semiconductor will be one of the big beneficiaries.

Regarding the company's balance sheet, Jackson said that although the debt on the books is only at a 3% interest rate, the company is still committed to using its cashflow to pay down that debt as quickly as possible.

Cramer called ON Semiconductor a great story on the heels of its great quarterly results. He said he'd be a buyer of the company.

Best of the Worst

For "Speculative Friday," Cramer recommended

CKE Restaurants

( CKR), purveyors of the Carl's Jr. and Hardees restaurant chains. He said that while CKE is among the worst of breed, it also has the most upside potential.

CKE is a turnaround play, said Cramer. The company's operating margins of just 5.7% lag well behind its peers, like

Burger King

(BKC)

, with margins of 14.5%, or even

Jack In The Box

(JACK) - Get Report

, with 8.5% margins, but CKE's margins are actually up from just 2.3% in 2003.

Cramer said many of the negatives for this stock are about to turn positive. The California economy, where many of CKE's Carl's Jr. restaurants are located, is slowly recovering, said Cramer. And with low gas prices, falling commodity costs, and easy compares, CKE should be able to beat expectations.

He said CKE also has lots of room to grow and has the added benefit of a 3% dividend yield that pays you to wait for better times ahead.

Mad Mail

In this segment, Cramer told a viewer that he can stick with

Companhia Vale

(VALE) - Get Report

on the strength of China.

Cramer clarified for a second viewer that his recent recommendation of

DigitalGlobe

(DGI)

was only for getting in on the company's IPO and not for buying the stock in the open market.

He said that he never recommends buying an IPO in the open market. He also said IPOs only work if investors can get the IPO price directly from their brokers.

Lightning Round

Cramer was bullish on

Emerson Electric

(EMR) - Get Report

,

Gilead Sciences

(GILD) - Get Report

,

Cleveland-Cliffs

(CLF) - Get Report

,

Grainger WW

(GWW) - Get Report

,

Diana Shipping

(DSX) - Get Report

,

Frontline

(FRO) - Get Report

and

Nordic American Tanker

(NAT) - Get Report

.

He was bearish on

Starbucks

(SBUX) - Get Report

,

WESCO International

(WCC) - Get Report

,

Commercial Metals

(CMC) - Get Report

and

Star Bulk Carriers

(SBLK) - Get Report

.

Check out the latest edition of

"Cramer's Take onTop-Searched Stocks" on Stockpickr.

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clicking here

.

Read more of Cramer's Mad Money Lightning Round insights

.

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At the time of publication, Cramer was long JPMorgan Chase, Goldman Sachs.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."

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