Some companies wouldbenefit from the departure of their CEO, Jim Cramer said on his "Mad Money" TV show Wednesday.

The latestaddition to Cramer's "Wall of Shame" is Terry Semel,CEO of

Yahoo!

(YHOO)

, which Cramer has in his charitable trust,

Action Alerts PLUS.

Cramer believes that Semel proved himself to be a "master ofthe art of overpromise and underdeliver" when hiscompany turned in earnings Tuesday that fell short ofWall Street expectations.

"You can't raise the bar really high and thenimplode," Cramer says. "And you certainly shouldn'tbe allowed to do it repeatedly."

Sam Palmisano of

IBM

(IBM) - Get Report

andCharles Prince of

Citigroup

(C) - Get Report

also make Cramer's list of toxic CEOs. ButCramer believes that Semel deserves the top spot.

On a more positive note, Cramer says

DowneyFinancial

(DSL) - Get Report

is the best risk/rewardstock he's talked about on the show in a long time.

On Monday,

Wachovia

(WB) - Get Report

reported agood quarter, surprising critics who didn't like thecompany's acquisition of California-based savings andloan

Golden West

. The bears believed the deal gave thebank too much exposure to the mortgage meltdown.

Cramer believes that Downey can be "the next Golden West" and that the stock price could double if it becomes atakeover target.

Additionally, the stock could also go up if the

Fed

raises interest rates or if shorts get busted forbetting against it. Right now, 40% of Downey's floatis held by shorts who believe that the company will be hurtby mortgage defaults.

On the subject of mortgages, Cramer says "what wasnegative four weeks ago is now positive for banks." He reiterated his buy calls for

LehmanBrothers

( LEH),

BearStearns

( BSC) and

GoldmanSachs

(GS) - Get Report

, which he owns for his charitable trust,

Action Alerts PLUS.

As for

Impac Mortgage

(IMH) - Get Report

, Cramersays it's "the kind of stock that could double on any good news."

Image placeholder title

'Green Day' III

Cramer continued his weeklong segment about the April 2 Supreme Court decision to allow the Environmental Protection Agency to cap greenhouse emissions, a judgment likely to benefitcompanies that are environmentally friendly.

His latest "Green Day" pick is auto-supplier

BorgWarner

(BWA) - Get Report

, because the companyis "all about controlling emissions and enhancing fueleconomy, exactly what we are after in a post-Green Dayworld."

BorgWarner's backlog of orders is growing because ofdemand for products such as its fuel-efficientturbochargers, said Cramer.

Even though the company can help save the planet, someinvestors still might be worried about investing in anauto-parts company, he said.

But Cramer believes that BorgWarner won't behurt by the struggling U.S. auto industry because itdoes most of its business with foreign automakers that are in better financial shape.

A caller remarking on all the hoopla surrounding "green" stocks, wanted to know if traditional energy sectorswere peaking.

Cramer said that oil companies are "still ina multiyear expansion," but that he prefers oil service stocks such as

Halliburton

(HAL) - Get Report

and

Transocean

(HAL) - Get Report

, both of which he owns for the charitable trust.

Am I Diversified?

During Cramer's "Am I Diversified?" segment, thefirst caller owned the following five stocks:

OptionsXpress

( OXPS),

Annaly Mortgage

(NLY) - Get Report

,

Andrew

( ANDW),

RFMicro Devices

(RFMD)

and

eBay

(EBAY) - Get Report

.

Cramer recommended that the caller unload Andrew and RF Microbecause "they are both telecommunications and they areboth bad stocks." Although, Annaly and OptionsXpressare both financials, Cramer said they could bothstay because one was levered to mortgages and theother to brokerages.

The next viewer called with these stocks:

AluminumCorp. of China

(ACH) - Get Report

,

Jones Soda

(JSDA)

, Transocea,

RTIInternational Metals

(RTI)

and

DirecTV

(DTV)

.

Cramer said he believed that the portfolio had "totaldiversification." Although he is not a fan ofaluminum companies or Chinese companies, Cramer likes thatACH pays a big dividend.

The last caller wanted to know if she wasdiversified owning

Bed Bath and Beyond

(BBBY) - Get Report

,

Lowe's

(LOW) - Get Report

,

Qualcomm

(QCOM) - Get Report

,

Starbucks

(SBUX) - Get Report

and

Stryker

(SYK) - Get Report

.

Cramer pointed out that BBBY and Lowe'sare both retailers with exposure to housing. Herecommended getting rid of Bed Bath and Beyond andpicking up a financial, such as

Bank of America

(BAC) - Get Report

orGoldman Sachs.

Mad Mail

During his "Mad Mail" segment, Cramer told aviewer he was not put off by

SuperiorOffshore's

plan to pay a special cash dividend toexisting stockholders before making its initial publicoffering. He says many companies such as

BurgerKing

(BKC)

have been doing thiswithout getting hurt.

Another viewer wanted to know if

SouthernCopper

( PCU) would "drop like a rock"in late April and early May, as it has done in thepast. Cramer blamed the pattern on China, but said hewould continue to buy PCU.

Cramer responded to another viewer's email byagreeing

FuelCell Energy

(FCEL) - Get Report

would benefit from the "Green Day" Supreme Court decision.

During the "Sudden Death" round, Cramer wasbullish on

Kroger

(KR) - Get Report

,

ExxonMobil

(XOM) - Get Report

and

MGMMirage

(MGM) - Get Report

.

He was bearish on

Hovanian

(HOV) - Get Report

.

Lightning Round

Cramer was bullish on

Yamana Gold

(AUY) - Get Report

,

Lundin Mining

( LMC),

Genco Shipping

(GNK) - Get Report

,

MetLife

(MET) - Get Report

,

Prudential

(PRU) - Get Report

.

Manulife

(MFC) - Get Report

eBay

(EBAY) - Get Report

,

Toyota Motor

(TM) - Get Report

,

Energy Metals

( EMU),

Mosaic

(MOS) - Get Report

,

Brocade

(BRCD)

,

EMC

(EMC)

,

Ameren

(AEE) - Get Report

and

Washington Mutual

(WM) - Get Report

.

Cramer was bearish on

Northgate Minerals

( NXG),

Northern Orion

( NTO) and

Uranerz Energy

(URZ)

.

For more of Cramer's insights during the Lightning Round, click here

.

Want more Cramer? Check out Jim's rules and commandments for investing from his popular book by

clicking here

.

At the time of publication, Cramer was long Yahoo!, Transocean, Halliburton and 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."

None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, TheStreet.com or CNBC that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the program. Mr. Cramer's past results are not necessarily indicative of future performance. Neither Mr. Cramer, nor TheStreet.com, nor CNBC guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the program. The strategy or investments discussed may fluctuate in price or value and you may get back less than you invested. Before acting on any information contained in the program, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

Some of the stocks mentioned by Mr. Cramer on "Mad Money" are held in Mr. Cramer's Action Alerts PLUS Portfolio. When that is the case, appropriate disclosure is made on the program and in the "Mad Money" recap available on TheStreet.com. The Action Alerts PLUS Portfolio contains all of Mr. Cramer's personal investments in publicly-traded equity securities only, and does not include any mutual fund holdings or other institutionally managed assets, private equity investments, or his holdings in TheStreet.com, Inc. Since March 2005, the Action Alerts PLUS Portfolio has been held by a Trust, the realized profits from which have been pledged to charity. Mr. Cramer retains full investment discretion with respect to all securities contained in the Trust. Mr. Cramer is subject to certain trading restrictions, and must hold all securities in the Action Alerts PLUS Portfolio for at least one month, and is not permitted to buy or sell any security he has spoken about on television or on his radio program for five days following the broadcast.