Tuesday, after the market closed,
announced that Bill Ford had stepped down from his namesake company and handed his position to
Alan Mullaly, Jim Cramer said on his
"RealMoney" radio show Wednesday.
Although Ford might have thought this would be bad news for the company, it actually was good news, Cramer said.
"Needless to say, the media went into overdrive on this one," he said. "There's one line I focused on, which was viewed as a negative, but again was a positive: 'Mr. Mullaly has no Detroit experience.'"
This is actually the key to Ford getting better, Cramer said. "Ford is an insular company in an insular town," he said.
Cramer believes that Mullaly has come to Ford with a mandate to fix the company. This is why Ford is up today, he said.
"Even though it preannounced a horrible quarter, it still went up," Cramer said.
Ford has been bottoming here for some time, he said, but it's up too much today. Cramer said he'd wait for it to come down before buying any.
"Ford is no longer on my bad list," he said. "It has too much going for it with this new executive."
There have been some good times lately at the gas pump, as prices have fallen, Cramer said. The best way to make money from the decline in gasoline is with
, he said.
Because retail was going down when gas was up, market players should apply the opposite when gas is going down, which is that retail should go up, Cramer said.
"But you must find the right retailer," he stressed.
Although Cramer respects and believes that
is terrific -- and even owns it for his charitable trust,
Action Alerts PLUS -- Cramer said he understands that it is a $150 stock, and that some people might feel uncomfortable and not be able to afford it. But he still believes that investors should own even just one or two Sears' shares if they can, because it's going up.
Still, best way to profit from the gas decline now is JC Penney, which has been buying back stock aggressively and "has a terrific management," Cramer said.
"It has four points up and one point down," he said.
To see the most recent edition of The RealMoney Radio Recap in its entirety, please click here. This recap is published every day around 3 p.m. ET.
At the time of publication, Cramer was long Sears.
Jim 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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