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TheStreet.com TV Recap: Probing Procter & Gamble's Problem

It screwed up, and Cramer has some ideas for how to fix it.
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Jim Cramer says he's baffled at the poor showing from Procter & Gamble (PG) - Get Procter & Gamble Company Report, and it's sparked some soul-searching. "This should have been their quarter," he said on TheStreet.com TV's Wall Street Confidential Web video Tuesday

Cramer said he is now questioning everything about the company, including its Gillette acquisition, how much stock it's buying back and whether it has a handle on its product lines.

Meanwhile, even as Procter & Gamble stumbled,

Unilever

(UN) - Get Unilever NV ADR Report

,

Colgate-Palmolive

(CL) - Get Colgate-Palmolive Company Report

,

Avon Products

(AVP) - Get Avon Products, Inc. Report

,

Coca-Cola

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(KO) - Get Coca-Cola Company Report

,

General Mills

(GIS) - Get General Mills, Inc. (GIS) Report

and

Kellogg

(K) - Get Kellogg Company (K) Report

all had good quarters, Cramer said.

"Procter has different businesses in every one of those

sectors," he said.

Procter & Gamble might have a template for how to fix things from Avon. Avon CEO Andrea Jung had been doing a "bad job," he said, but then she had a big team meeting in which she told her staff that the company was "screwing up" and that there was no more tolerating it.

"It all came together

for Avon last quarter, and you got the stock moving from $34 to $38 and $39," Cramer said. "There are no more disbelievers after this quarter."

Although the stock has traveled from $33 to $42, there is more room for it to run because those market players who feel Procter is no good are going to buy Avon instead, he continued. "That kind of thinking does exist in a marketplace."