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Cramer said the political rhetoric against Big Business is heading down a dangerous path. Not only did the government change the rules to block Pfizer (PFE – Get Report) from acquiring Allergan (AGN – Get Report) , it also blocked the tie-up between Halliburton (HAL – Get Report) and Baker Hughes (BHI – Get Report) , without offering any explanation as to how the two companies could come into compliance.
Then there is the race for president, where Hillary Clinton has been openly attacking the drug companies and Bernie Sanders advocates breaking up the big banks, the same banks the government begged to buy up failing rivals just a few years ago.
Cramer said the government isn’t all bad. It recently raised tariffs on foreign aluminum and recently changed the rules to ensure financial advisors put their clients needs first.
Business is a good thing, Cramer said. It feeds families, providers healthcare and helps the vast majority of households plan for retirement. Business can’t have the rules changed without warning, and they certainly shouldn’t all be vilified.
Executive Decision: Mark Light
For his “Executive Decision” segment, Cramer sat down with Mark Light, CEO of Signet Jewelers (SIG – Get Report) , which recently delivered a 4-cents-a-share earnings beat on a 4.9% rise in same-store sales.
Light explained Signet derives about half of its business from gift giving and the other half from bridal purchases, which is a very stable business. His company is the largest jeweler in the mid-market, one that values Signet’s brands like Vera Wang and Love.
Signet also has a credit component, and Light said the company as been offering customers credit for over 30 years and the portfolio is looking very good at the moment.
Finally, when asked about whether Americans still go to the mall, Light explained that jewelry is a very personal purchase and that keeps customers coming to their stores. He said Signet has a balanced portfolio of mall and off-mall properties to meet their customers wherever they are.