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In an "Executive Decision" segment, Cramer welcomed back to the show Scott Santi, chairman and CEO of Illinois Tool Works (ITW) , the Action Alerts PLUS holding, shares of which barely budged Wednesday after a terrific earnings report.
Santi explained that Illinois Tool Works has been around for 105 years and is built for the long term. So while some segments, like automotive, were soft this quarter, other areas, such as welding, more than offset it. He said there is a shortage of skilled labor in many trades right now, which makes their products all the more valuable as they make sophisticated technology more accessible to lesser skilled workers.
Even in the automotive segment, which was soft this quarter, Illinois Tool Works has been growing faster than the segment for the past four years. Food service also remains an important part of the company and Santi said their equipment helps restaurant owners save in operating costs.
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