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Jennifer Dauble
Manager, Public Relations
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Division: CNBC

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Aug.15
9:40 AM ET
Friday, 15 Aug 2008
CNBC's Jim Cramer Interviews Google Inc. Chairman & CEO Eric Schmidt on "Mad Money with Jim Cramer" (Transcript Included)
Posted By:Jennifer Dauble
Companies:Google Inc

SCHMIDT: SOME NUMBER OF BILLIONS OF DOLLARS.

CRAMER: WHY NOT DO IT?

SCHMIDT: PEOPLE WOULDN'T LIKE IT. WE PRIORITIZE THE END USER OVER THE ADVERTISER

CRAMER: YOU'RE WILLING TO THROW AWAY A HALF A BILLION DOLLARS IN REVENUE?

SCHMIDT: ABSOLUTELY WE'RE NOT GOING TO SELL IT.

CRAMER: IF I'M A SHAREHOLDER, WHAT KIND OF ATTITUDE IS THAT?

SCHMIDT: YOU WANT THOSE USERS TO COME BACK.

CRAMER: THE DOMESTIC WOULD BE JUMP-STARTED.

SCHMIDT: EVENTUALLY, A MAGAZINE WITH ADS, PEOPLE WOULD STOP READING IT.

CRAMER: DO YOU THINK THAT WE'LL SEE WITHIN OUR LIFETIME, THE INTERNATIONAL BUSINESS DWARFING THE UNITED STATES?

SCHMIDT: THE WORLD IS A REALLY BIG PLACE AND ADVERTISING IS ALREADY GLOBAL. WE'RE ALREADY IN THE MAJORITYINTERNATIONAL, I THINK IT'S GOING TO BE 65-35.

CRAMER: RIGHT NOW IT'S ABOUT 52%

SCHMIDT: AND LOOK AT THE GROWTH OF INDIA AND CHINA.

CRAMER: HOW ABOUT THIS PAGE?

SCHMIDT: I LIKE THAT.

CRAMER: I GOT QUESTIONS ABOUT WHAT'S GOING TO HAPPEN.STAY HERE. "MAD MONEY" CONTINUES IN A MOMENT.

CRAMER: WE'RE TALKING WITH ERIC SCHMIDT. I'M GOING BACK WITH THE $750 PRICE.

SCHMIDT: I'VE NEVER SEEN A GOOGLE EMPLOYEE WITH THAT MANY TATTOOS.

CRAMER: TATOOS ARE BIG YOU GUYS HAVE TO GET MORE HIP. I WOULD SHOW YOU MY RING HERE. WHAT, I KNOW WE WERE TALKING, I KNOW YOU HAVE STUFF YOU WANT TO ASK ME.

SCHMIDT: A SIMPLE QUESTION. YOU THINK THE MARKET'S GOING TO TURN, BUT WHEN IS BUSINESS GOINGTO TURN IN AMERICA? THINGS ARE ROCKY HERE.

CRAMER: THE MARKET IS ALWAYS ANTICIPATED BETWEEN SIX AND NINE MONTHS TURNS IN BUSINESS. HOUSING RIGHT NOW, THE HOUSING MARKET IS NINE MONTHS AWAY FROM THE TURN. THE STOCKS TELL ME MORE. IN YOUR CASE, I BELIEVE THAT YOU WILL GET BACK TO YOUR OLD PRICES BECAUSE INFLATION'S COMING DOWN.LET ME TELL YOU THE THINGS THAT KEEP ME UP AT NIGHT WITH GOOGLE. FIRST OF ALL, I THINK WHEN I FIRST STARTED TRADING IBM, I NEVER THOUGHT ANYONE COULD TOUCH THEM BIG BIG BIG AND THEN FLAT. THEN MICROSOFT BIG BIG BIG AND THEN FLAT, I WORRY THERE'S A LEVEL WHERE GOOGLE CAN'T GET ANY BIGGER. YOUR CONCERN?

CONTINUED
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