Cramer’s Take: On TheStreet.com TV's Wall Street Confidential Web video Thursday, Cramer nominated Sears as a domestic Berkshire Hathaway, he said Cramer often says Sears, which he owns for his Action Alerts PLUS charitable trust, could be the next Berkshire Hathaway. "I think every portfolio has to take the risk/reward here of finding the next Buffett," he said. "A selloff in a healthy environment, where inflation is under control and interest rates are stable ... is a great opportunity to pick up leadership names like a Sears," Cramer said. "These are asset managements -- that's why I like them. They aggressively manage their assets, and that's what you should be buying." He persists “Eddie Lampert is a terrific investor, and he's the brains behind Sears. ... I am urging patience. I don't want people to quit Sears”

Cramer’s Take: “For the life of me I don't understand why everyone isn't buying Citigroup. You've got a much better than average yield,” Cramer said. “You have a management that doesn't have a clue and could be gone in an instant, which would mean you could pick up a quick $3 or $4. You have a company that could be a big gainer worldwide, and it is a ROWer (that's rest-of-world, for those who've missed my thousand references to it).” He urges, “You have a business that could win if the yield curve gets its inflection back. You have a phenomenal cash machine that can buy back stock until the cows come home.” “And most important, you have some angry investors who, behind the scenes, are going to make their view felt -- and that could lead to restructurings and firings.” Cramer goes on to explain, “I am blown away that this stock has been stuck at $53 with all of these positives lurking. This isn't Bank of America, where you can only hope that they stop buying things. This is one of those stocks where you could have a dramatic move up on any talk of a breakup or a change at the helm, and in the meantime you will get paid to wait.”

Cramer's Take: Cramer says Dell is one of the old four horsemen replaced by the new four horsemen Research In Motion, Amazon, Google and Apple. However, he likes Dell and says, "I think getting off the Dell horse is wrong." This is not to say he is bearish on the old horsemen. "Dell could double because Michael Dell is back, but that is not a secular growth, that is a great-man theory," Cramer said. Michael Dell built a great company and is not back for no reason. What's really great about Dell, he said, is the skepticism with which he's being viewed. "The company caught three downgrades after he came back," Cramer said. "That again represents the old thinking that I'm talking about." That said, he believes Dell can't grow as far as RIM or Apple because it doesn't have the kinds of new products as the latter two. "But what it does have is the potential to have more gross margin than it's had because Michael Dell is a master at finding ways, on a nice revenue gain ... of making more profit," Cramer said. Cramer also liked a call from Bear StearnsBSC in which the firm raised its forecast for PC sales, and he said Dell is a great story for the second half of the year. "I would be a buyer of Dell here," he said. "I think Michael Dell's a winner."

Next we visit Disney….. David Geffen, Hollywood media mogul, invests his money directly with Eddie. Maybe he knows a thing or two about Disney. Cramer’s Take: "They're doing a terrific job," Cramer said, but Disney's "not exciting enough for this guy, so I'm going to go with some Don'tBuy action." Even though he said he likes Walt Disney, he believes that the company's theme parks are a liability with high gas prices. And though its Pirates of Caribbean movie should be a hit, this has already been priced into the stock, Cramer said. Although Cramer not too optimistic about DIS in the short term, he is still confident in Disney’s leadership controlled by CEO Bob Iger. "Bob Iger has done a remarkable job. I think people who didn't like the recent quarter, I think they're nuts. ... I'm sticking with Iger,” Cramer says. “I think the stock is an up stock. ... McDonald’s and Disney are my two favorite stocks to buy for kids."

Cramer's Take: Cramer was bulligh on AutoZone in a Mad Money Lightning Round.

Lampert recently disclosed a nearly 1M share stake in Motorola Inc. Cramer's Take: "I am also pro-activist pretty much everywhere I can find it. Richard Parsons was instrumental in making me feel that Carl Icahn's contributions are welcome. He, too, came on my show and said that. I am appalled that Ed Zander, the CEO of Motorola (MOT), doesn't welcome Icahn with open arms. He needs it. Cramer is not a big fan of Motorola for a number for reasons but largely because of Ed Zander. “It takes years of hard work and incompetence to make into onto Cramer’s "CEO Wall of Shame". When he took over in 2004, the stock almost doubled, Cramer said, but he didn't have what it took to keep it going. "Ed Zander could immediately improve morale by deciding to spend more time around the house," Cramer said, and give up his CEO spot. And to sum up his own position on MOT, he said we must read Robert Marcin’s piece on Motorola after their recent pre-announcement last week. “Motorola's (MOT) preannouncement revealed a complete debacle. The company shipped 52 million handsets in last year's June quarter. It forecasted 35 million this second quarter. In the past six months MOT has lost 1,000 basis points of market share in a decent handset market. In all my years I have never seen anything like this mis-execution. It's hard to understand how MOT could screw up so badly with all of their global resources. I guess it comes down to something a company official said to me last year. When I complained about the company's lagging feature handsets last year, the spokesman said customers don't use many of the coveted features anyway. And, that buyers only purchase fashion. Gimme a break. The board of directors needs to recruit a completely new management team. I call it a zero-based restructuring, and it should include the entire Board's conditional resignation after a new CEO is found. This Board is contributing to the destruction of a once powerful franchise. The company really needs a CEO with a strong operational background, unlike their current marketing-oriented chief. Changes must be made now!”

Cramer's Take: "I think Home Depot is undervalued and I like the buyback. Chase it up 6%? Buy some and let it come in," says Cramer. Cramer said he was wrong when he thought Uncle Ben Bernanke, the Federal Reserve chairman, would cut rates and thus send Home Depot higher. Cramer believes that Home Depot has the ability to go up 3 or 4 points maximum, and he said he wouldn't like to own it here. Sears, a stock he owns for his charitable trust, is a better way to play housing, he said.

Cramer's Take: Cramer is not too fond of Gap- mentioning it only as an example of a company with terrible earnings: "Sears' quarter is awful, just plain awful. If you own it for the quarter, you have to sell this stock nine ways to Sunday, because in the pantheon of earnings it is worse than Gap. And that's a real benchmark."