It doesn’t matter who Nokia hires, short of Steve Jobs, it still won’t save the company from obscurity. That was Cramer’s reaction to former Microsoft executive Stephen Elop joining Nokia as its new CEO.
Nokia , once a power player in the wireless industry, has since fallen behind top competitors like Research in Motion and now Apple . And, as Cramer said during Friday’s Stop Trading!, “You can’t come back in this business.”
Nokia’s biggest problem, Cramer said, is that the company’s isn’t on the radar of the key US demographic that decides which cell phones will sell and which won’t—teenagers. And that goes even for RIM and Samsung, whose upcoming Galaxy Tab is expected to be an iPhone/iPad competitor.
“Our teenagers don’t know jack about Nokia,” Cramer said, “and this guy from Microsoft ain’t going to change that.”
Cramer added that Apple’s move into the enterprise business is “the most frightening thing in the world” to Research in Motion, which has dominated the space.
Cramer commended newly announced pay package for General Motors CEO Dan Akerson, who will receive $1.7 million in cash, $5.3 million in short-term stock and $2 million in restricted stock. Cramer called it a “good package,” saying it was on par with what the CEO a midsized manufacturing company should earn.
If Jimmy Choo goes public, the deal is going to be “very hot,” Cramer said. “And I want everybody in it.”
When this story published, Cramer's charitable trust owned Apple.
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