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In his second "Executive Decision" segment, Cramer welcomed back Carlos Rodriguez, president and CEO of Automatic Data Processing (ADP) , the payroll processor that just posted a nine-cents-a-share earnings beat and raised its guidance for the rest of 2018.
Rodriguez started off with an update on ADP's relationship with activist investor Bill Ackman, saying that their disagreements are "water under the bridge." He explained that their views were always similar and the disagreements were mainly over the pace of progress. A little more urgency is always a good thing, Rodriguez said.
As for ADP's business, Rodriguez noted that strong employment and strong economic activity is always good for ADP and higher interest rates and lower taxes are also helping to boost the bottom line. Margins this quarter exceeded expectations, but there's always room for improvement, he said.
The nature of the workforce is changing, Rodriguez said, and nearly 35 million workers are part of the "gig economy," working as independent contractors. But those workers, and their employers, all need help managing their finances and taxes.
Finally, when asked about the recent tax cuts, Rodriguez said ADP's tax rate will be going down and that will mean more money being returned to shareholders.
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