Eddie Lampert's now got his own man running

Sears Holdings

(SHLD)

, James Cramer said on his

"RealMoney" radio show.

Cramer acknowledged that Thursday's numbers were

disappointing, but he said the change atop the big retailer is far more important for investors. "These numbers were former CEO Alan Lacy's numbers," Cramer said Thursday afternoon. "Alan Lacy did nothing at Sears. He would have done nothing with Sears and Kmart."

But now, with the installation of Lampert lieutenant Aylwin Lewis, Cramer believes "the vast bulk of the pain is over at Sears." Now is the right time to buy.

Elsewhere, a "stock you have to own," said Cramer, is

Altria

(MO) - Get Report

. Morgan Stanley issued a report Thursday on Altria saying the company would be worth $105 a share if it split up its tobacco and food businesses. The main problem with the stock has been litigation risk, said Cramer, and that risk is going away. Altria has only two lawsuits pending against it, and Cramer thinks Altria will prevail in both. The stock fetched $72 and change Thursday.

A caller asked about

First Marblehead

(FMD)

. Cramer said despite disappointing quarterly results last month, he is encouraged by recent insider stock purchases.

In the "Stump Cramer" segment, in which listeners ask about obscure and not-so-obscure stocks, Cramer was asked about

Johnson Outdoors

(JOUT) - Get Report

and

Rambus

(RMBS) - Get Report

. Cramer said Johnson Outdoors was a "sleepy" company that would make a great combination with

Jarden

(JAH)

, which owns Coleman. Cramer would rather own Jarden than Johnson, though.

Cramer was not a fan of Rambus, saying Rambus was vulnerable to video-game component price wars. The only component maker Cramer likes is

Marvell Technology Group

(MRVL) - Get Report

because of its proprietary technology, he said. Cramer's favorite way to play the upcoming video-game cycle is via

GameStop

(GME) - Get Report

, he added.

In response to a listener's question about hurricane cleanup plays, Cramer said most cleanup stocks have already priced in the good news. The only stock in that group Cramer still likes is

Caterpillar

(CAT) - Get Report

.

Finally, a caller asked about

Calpine

(CPN)

, which was trading higher Thursday after the company announced it would form an energy trading operation with

Bear Stearns

( BSC). Cramer said the news isn't important and that Calpine's stock "isn't worth owning." Shares of Calpine traded at $3.15 Thursday.

At the time of publication, Cramer was long GameStop, Altria and Sears Holdings.

James J. Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for

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