Shedding Light on Con Edison

In a second "Executive Decision" segment, Cramer also sat down with Kevin Burke, chairman, president and CEO of Consolidated Edison ( ED), a safe, domestic utility with a 4.1% dividend yield and zero exposure to Europe.

The outlook for ConEd is simple, Burke said: "We're growing." He said New York City is once again one of the fastest-growing markets in the country and ConEd is seeing lots of demand for both electricity and natural gas.

Burke praised Sepctre Energy ( SE) for their recent approval to bring a new natural gas pipeline from the Marcellus shale region of Pennsylvania onto the island of Manhattan. He said the city's initiative to convert 7,000 buildings from using dirty oil to cleaner natural gas will be a boon for ConEd, as well as for cleaner air in New York City.

When asked why 7,000 buildings would convert to natural gas, Burke said it all comes down to price. While the cost of oil is high and only going higher, natural gas is at record lows and will stay there given how much gas the U.S. is now able to pull from the ground. He said that Spectre's new pipeline will mean that ConEd can increase reliability and deliver more cleaner, cheaper natural gas to a growing city.

Cramer once again praised ConEd as one of his favorite utilities, with both growth and a terrific dividend yield.

No Huddle Offense

In his "No Huddle Offense" segment, Cramer offered some words of advice for leaders of Europe. He said while there aren't any good solutions for the beleaguered continent, there are a few not-so-bad solutions.

Cramer said that more than anything else, Europeans need jobs. With jobs come more taxes and more productivity, all things that are desperately needed. He said no amount of austerity will be any good without solid economic growth behind it.

Second, Cramer said the European Central Bank needs to give people a reason to keep their money in Europe's banks. Currently, money is flowing out of European banks as people fear their euros will be suddenly converted into lesser currencies. There needs to be deposit insurance that insures in euros, said Cramer, even if that means higher inflation for the currency.

Without those two things, Cramer said, the European banks will most certainty default, starting the cycle of panic and chaos all over again.

--Written by Scott Rutt in Washington, D.C.

To contact the writer of this article, click here: Scott Rutt.

Follow TheStreet on Twitter and become a fan on Facebook.

To submit a news tip, send an email to:

To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.

Click here to sign up for Jim's Daily Booyah to get the Mad Money recap delivered to your inbox.
At the time of publication, Cramer's Action Alerts PLUS had positions in AAPL, ETN and DNKN.

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.

If you liked this article you might like

How PayPal's CEO Uses Military Level Karate to Succeed in Business

Yes, PayPal CEO Actively Practices Martial Arts

7 Essential Rules for Investing in Tech Stocks

LA Times Tops 100,000 in Digital Subscriptions

Kraft Heinz's New CFO Is Just 29