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American Ecology ( ECOL) is a waste-disposal company that could make you money, Jim Cramer told viewers of his "Mad Money" TV show Tuesday.

When Cramer looks at toxic waste, he doesn't see a problem; he sees an opportunity. "Hazardous waste equals mad money," he said.

Cramer called toxic waste a secular growth story, which doesn't need the economy to be strong to perform well. In fact, the best thing about this stock is that it does well because of a "government-sanctioned oligopoly," he said.

American Ecology didn't start getting interesting until it got into the toxic-waste-management business, which is when it started to grow, Cramer said.

Only a small number of companies are allowed to operate toxic-waste management, which effectively keeps the competitors out, he continued. And the government says people have to pay a company like American Ecology to get rid of their hazardous waste.

This is the kind of government-backing that Cramer likes to see, he said. He believes that American Ecology is a defensive growth stock, which has a cushion with its "nice" 3.4% yield.

Plus, because there are only five analysts covering it, the company is relatively low on the radar, Cramer said.

Trash Talk

Another great hazardous-waste stock that Cramer believes is a "strong secular grower" is medical-waste company Stericycle ( SRCL).

He first recommended this stock 14 points ago, and although Stericycle is up, Cramer believes it is "still worth buying." Not only is Stericycle heavily regulated by the government, which keeps out competitors, but it is the "only national player in the medical-waste business," he said.

Cramer believes that the business of medical waste is good right now because it is consistent, as medical products such as needles will never get tossed out with normal garbage.

Also, Stericycle has negotiated long-term agreements with hospitals and medical centers, which means it has stable income, he said.

Bed Bath From Both Sides

Recently, Morgan Keegan downgraded Bed Bath & Beyond ( BBBY) based on "declining fundamentals," and at the same time Goldman Sachs upgraded the retailer based on "improving fundamentals," Cramer said.

Right now, he considers Bed Bath & Beyond to be an "expensive stock based on its earnings." But even though "its concept seems to have lost its way" and the stores have slowed because of housing, Cramer said he would not sell the stock if he owned it.

He urged his viewers to learn how to use these reports to analyze the stock by looking at both sides of the story.

On one side, Morgan said that the company's guidance is "reasonable," meaning when it reports it won't overdeliver. Morgan also said that BBBY's buyback will be finished earlier than expected, which it views as a negative, and that the store's valuation doesn't include risk factors such as deceleration of sales growth.

On the other hand, Goldman said that BBBY has a history of taking down guidance and then beating it. It also sees the retailer's accelerated buyback as a sign of great things to come.

Moreover, Goldman said BBBY's recent acquisition of Christmas Tree Shops could "reignite" the store.

Both Morgan and Goldman have the same facts but "totally different conclusions," Cramer said. But whether an analyst is right or not depends on the price of the stock, he said.

Therefore, right now, at $40, Cramer said market players should not buy BBBY. But they shouldn't sell it, either. He said people can't buy it because Morgan is right regarding the company's earnings not making it a compelling buy here.

But Cramer would be "loathe to sell it" because he believes that BBBY is likely going to be bought by a private-equity firm.

"At $40, it's in no man's land," he said.

If the stock ran up to $43.25, Cramer said he would take some profit, but if it went down to $37, he would be buying it.

Steak Appeal

Cramer welcomed Craig Miller, Ruth's Chris Steak House's ( RUTH) CEO, to the show and asked him how the company was able to preannounce the fourth quarter up.

"It starts with our brand," Miller responded. "We have a terrific brand."

In terms of pricing, while last year Ruth's had 5% hedged, this year it has more than 50% hedged, Miller continued. Although there have been some labor pressures, Ruth's is all about the experience, and when people go to the restaurant, Ruth's makes sure that that experience is delivered in an "extraordinarily great way."

Moreover, Miller said he believes that the company can build more Ruth's restaurants because of the breadth of its appeal.

Even though Ruth's has been able to deliver numbers time and again, it has not been able to create a tremendous amount of wealth for its shareholders. That's because it's still gaining credibility in the marketplace and because the market is still understanding its business model, Miller went on to say.

When Cramer asked if Ruth's has the flexibility to do more for its shareholders than deliver numbers, Miller said that the company is reinvesting its cash flow to expand its brand.

Miller said that international expansion is on the horizon for the steakhouse.

Lightning Round

Cramer was bullish on Disney ( DIS), McDonald's ( MCD), Omniture ( OMTR), Melco PBL Entertainment ( MPEL) and Sears Holdings ( SHLD).

Cramer was bearish on New York Community Bancorp ( NYB), Sirius Satellite Radio ( SIRI), Charter Communications ( CHTR) and Conexant Systems ( CNXT).

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 latest book by clicking here.

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

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for, Inc., and CNBC, and a director and co-founder of All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of 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, 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 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, 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, 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 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, 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.

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