Big Buyback

In the "Executive Decision" segment, Cramer once again sat down with Martin Franklin, the executive chairman of Jarden ( JAH), the largest sporting goods company on earth, as well as being a major player in small appliances. Jarden recently conducted a massive stock repurchase program, reducing its overall share count by 13%.

Franklin said that Jarden wanted to do something that would get its stock noticed by investors and its massive buyback accomplished that goal. He said the company generated enormous cash flow and will likely generate $450 million in free cash flow this year. When asked about the current earnings estimates for the stock, Franklin said he's comfortable with Wall Street forecasts.

Turning to the company's businesses, Franklin reiterated that diversification is a major strength for Jarden. He said the company has enjoyed six consecutive quarters of organic growth thanks in past to a $1 million per day investment into its brands. For brands like Coleman, known for its outdoor gear, that meant expanding into LED flashlights, where the company is now the No. 3 player in that market.

Franklin was equally bullish on Jarden's technical apparel segment, another aspect of the company that's growing in the double-digits, but still has lots of room to grow as it broadens its product offerings. Franklin was also bullish on their Rawlings brand of sporting goods ahead of the upcoming baseball season.

Finally, when asked why company management sold shares into its recent buyback, Franklin explained that the company wanted to encourage investors to tender some of their shares. He said that's why company management participated in the offer. That move did not indicate that company executives are any less bullish on the company however.

Cramer said that normally he's not a fan of buybacks, but in the case of Jarden, where share prices are rocketing higher, he's willing to make an exception.

Great Turnaround Story

In the second "Executive Decision" segment, Cramer also sat down with Bob Benmosche, president and CEO of American International Group ( AIG), a company that turned a corner in August, 2009 and has now become one of the greatest turnaround stories, thanks to excellent management.

Benmosche said that when he took the reigns at AIG, the company had great people, great assets and a reputation of knowing their businesses very well. He reminded viewers that out of 44,000 overall trades that AIG made, only 121 went bad during the the height of the financial crisis. Benmosche said that despite incredible criticism, the people of AIG were giving the freedom to act and were able to fix the company's problems.

Benmosche also discussed the company's plans to diversify itself and not become overly concentrated in any one area. He said the "win big, lose big" strategy is no longer in place at AIG and the company views diversification as a means to better debt ratings and more flexibility to thrive in any economic environment.

When asked about the government's stake in the company, Benmosche said that the government hasn't been a problem for AIG. He said the government lets AIG run its company. Overall, Benmosche made the bold claim that U.S. taxpayers will see a $5 to $10 billion profit on their investment into AIG.

Cramer closed by once again saying that AIG is perhaps the greatest turnaround of our time. He told investors to stick with the company.

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