Cramer: What is with Nucor? Haven't you had CEO Dan DiMicco on several times and he has said how wonderful they are doing and how they are still turning profits? What is with today's news that they are expecting to lose 55 to 65 cents per share? Did he say anything like that when he was on last? Is the dividend safe? --Jeff
Cramer says: “Jeff, I don’t know if the dividend is safe. That was very different from what he said. I think this is one of those instances where I have no ability to be able to forecast what he can’t forecast. But I thought it was a very disappointing announcement. It does happen. Executives do not get it right all the time. We don’t have the ability to know all the time what’s going to happen.”
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Jim: I recently noticed a sign at my local cigarette shop alerting customers to a $7.00 per carton tax increase coming April 1, due to passage of the SCHIP legislation. This comes on top of a $3 per carton increase about a month ago. With the bargain brands, this represents almost a 50% price hike, and about a 25% increase in the cost of premium brands. With this in mind, is it time to get out of Altria in anticipation of a steep decline in revenues? --Bill
Cramer says: “Bill, I had the same conversation with Sid at my newsstand where I get the papers. And it made me trip a little bit of Altria for [my charitable trust]. I still have a huge position in it because of the dividend…When Sid said, ‘Look Jim, $8 a pack,’ that made me blanch. So I…cut it back. And I can’t tell you to do differently if that’s what I did. Although I remain a substantial shareholder in Altria [for my charitable trust].”
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Howdy Jim: Your show has been my favorite show for the past 4 years. You have taught me how to be a smart investor with your show, your books and your appearances on multiple shows. Mainstream America understands you are one of the good guys and are out there to help the little guy get ahead. You have helped me more than you know. --Duke Pauly
Cramer says: “At this particular moment in my career, I am very grateful to have that e-mail.”
Cramer's charitable trust owns Altria.
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