Mad Mail for Friday, March 23

Dear Jim,

You mentioned the Dean Foods special dividend on your show. It sounded too good to be true. How can the Dean Foods $15 special dividend be worthwhile if the stock price resets to the stock price minus the $15 after the ex-dividend date? It makes more sense to me to get in after the ex-dividend date when the stock cost less. Is there a way to capture this dividend and make mad money? --Mike

Cramer says: “Take the dividend, the stock is going to get hit, and then it's going to go back up ... Don’t try and hedge it, just own it and try and make the money.”

Booyah,

What's your take on President Bush's trip to Ford and General Motors this week? Is his interest in hybrids and alternative fuel vehicles going to help the struggling automakers? --Carter

Cramer says: “The decision to emphasize ethanol is one of the worst decisions I’ve ever seen for the poor and middle class. We all eat chicken and beef, and the prices are going to go up because we’re short corn.”

Cramer,

I am a longtime holder of Altria . With MO spinning off Kraft next week, I am not interested in holding the new KFT shares long term. How do I minimize my risk on the downside with KFT after the spinoff since I am assuming we may see Kraft drop upon spinoff? Does it make any sense to liquidate my MO shares and buy MO “when issued” before the spinoff so I am holding only MO shares after the spinoff? --TL

Cramer says: “That’s what I initially recommended … Kraft will be added to the S&P, so there’s a very good chance Kraft won't go down at all. So, I think you’re safe.”

Questions? Comments? [e-mail]