[Beginning of Cramer's verbatim comments for this segment...]

Jim:        What is the takeaway when a total pastiche/mosaic of a company reports a totally blow out better than expected quarter… that is when I find myself asking with Jarden Corp. (JAH)… a consumer goods company that is simply all over the place when it comes to brands and products… every one of which you know… every one… Jarden has the number one position in market share in baseball gloves… in camp stoves, yes Coleman’s… sleeping bags… blenders… moisturizer… coffer makers, Mr. Coffee… slow cookers… fire logs.. .matches… come on, Diamond International… playing cards… as you probably know, I mean think about this, Mr. Coffee, Oster, Crock-Pot, Coleman, Rawlings, Bicycle Playing Cards, Pine Mountain Fire Logs… because where there is fire, there is usually smoke… First Alert Smoke Alarms… and best for last… something that I have to endorse… the Jimmy Buffet Margarita machine… I am a proud owner of this… including the tote bag, I take it everywhere… I will take it to your house when we do the Lightning Round.

Now, last Wednesday Jarden reported a phenomenal quarter… it delivered .93 cents of earnings… .12 cents higher than what the street was looking for… despite the fact that sales came in a little bit below expectations… cash flow was up huge… margins trending higher… Jarden’s customers inventory levels are at historic lows… its stock is up 29% year to date… how about a dividend too?… I mean what does this company not offer?… what does the quarter tell us?… look at Mr. Coffee and Crock-Pot sales, up 5% year to date and say that it bodes well for the US economy… is this company, a big acquirer, looking to do a transformation deal like Stanley Works just put together with Black & Decker tonight… or is Jarden just executing well?… and that is the only conclusion that we should reach?… should not over think it… perhaps good news for Jarden is good news for Jarden.

And the most important take away is that this is a well run company that really knows what it is doing… if you look at Jarden’s products the one thing that they tend to have in common is affordability… most of the companies products sell for less than $30 a piece… diverse brands dominate the specific niches and Jarden
was able to take market share during the slow down…one of the reasons why management thinks that the company can grow organically next year… it is expanding its global reach, it used to be all domestic… 2003, international sales only 5%… now 32% and going higher.. Jarden has been taking share… it has been pants-ing the competition… because it has the right brands and the right products… I have to tell you, they dominate whole aisles… whole aisles… I want to know if this run can continue… so let’s hear from the man behind the brands, Martin Franklin, the CEO of Jarden Corp. (JAH)…

Jim:      Mr. Franklin, welcome to Mad Money...

Martin:    Thank you Jim, pleasure to be here.

Jim:         Okay, I admit I had my doubts… I had my doubts, this was a legend… Mr. Franklin came to see me at my old hedge fund years ago and everyone told me, taking down too much debt, really has got much bigger eyes than you….. really you had your eyes on becoming a huge conglomerate… I was doubtful… walk me thru how you built all these brands that are now whole aisles of discounts.

Martin:    Look the philosophy has not changed for the last 8 years, I have been building this business. You know we built a great team. And the strategy has been dominate market share, niche markets, and equity. And we have been looking for companies that have real histories of defensible market positions and strong cash flows. And we just stuck to our knitting. And if you go thru the entire portfolio, everything that we have done, whether it be in the appliance space under the businesses that we built around John Consumer Solutions Division, including Crock-Pot and Sunbeam and Osterizer, all of these brands dominate their niche markets. The same thing goes for our positions with the outside sporting good world. You know today we are the largest sporting goods equipment company in the world, and all of our brands in their respective niches are the number one player. So when the going gets tough, you know the economy has gotten tougher, what has happened is that we have been able to grow share to offset the shrinking components of the marketplace. And when the economy rebounds those market share gains should really come thru on the top line.

Jim:     Well, you are not done… in the conference call you talk about wanting to move into the juvenile and into the over 55... now I would think that juvenile would be car seats or something like that… I do not know what the over 55 is… so tell me what I am buying?

Martin:    Well, just looking at general demographics. So we have got a lot of products that are 8 or 9 years old up thru the 55. We are looking at the juvenile space. We are spending a little more time definitely on that. We have not seen things that we like.

Jim:     Is this like toys?

Martin:    No, not toys. Things like consumables, baby bottles and things like that. A little more value added, a little more unique. We are also looking for things that will diversify business internationally. We are about 32% of sales today internationally. We would like to get closer towards 50%. You know, as a defense. Now we have build this business to a $5.2b plus base. We are starting to think a little more strategically about how we want to develop the business. Not for the next year, but for the next 3 years, 5 years, 10 years.

Jim:     Then what do you think about tonight’s Black & Decker Stanley Works combination?

Martin:    I think that it is a tremendous idea. The market obviously likes it. I think that it is good for the consumer space.

Jim:     Tell us why… I think the people at home are saying, wait a second, Black & Decker used to pitted against Stanley Works… I used to get lower prices for tools… how is that good?

Martin:    Retailers want to deal with more sophisticated, fewer vendors that they can work with. With programs that are ever more efficient than they used to be. Whether it be trimming inventories. Finding efficiencies to bring down costs. All of those kind of things. Obviously a combination of those two kinds of companies plays right into that. And that is what has happened for us. Finding efficiencies to provide more to one customer providing the whole gamut.

Jim:     Alright, consumers of your stock got pretty lucky this year. I know a lot of companies like yours… the short sellers were all over them, they were pressuring you. You had some deadlines to be able to raise money. You did a phenomenal secondary. Which was you tapped the market for $200m to the issue of 12 million shares at $17.50, that also helped your bonds and everything. It was a virtuous circle right?

Martin:    Yes, virtuous circles is the right word. We actually did not need any money. We knew internally that we did not need any money. But our view was the market was looking for that. They wanted some reassurance that we could go to the capital markets if we wanted to. Because of that it tightened up our spreads. We did a ? offering off of the back of that and then we did an amended extend on about $600b of our ?. You know we got $640m in cash on hand. Which basically became free cash. Because we generate so much cash flow every year that we really do not need the capital markets anymore today to fund our obligations.

Jim:     One last question, why put a dividend in when you have such great growth prospects and you could use that to buy somebody else?

Martin:    You know 80% of the S&P 500 consumer stocks pay a dividend. That is our goal long term to get to be that kind of company. And it is just a part of the maturation process of our business. It is also gives us access to income funds that we never had before. I never knew how to pay a dividend.

Jim:     I bet you 10 years ago you had a tiny company, you came in and said that you would have a great, huge company that would dominate aisle spaces. I doubted you. I was wrong. Martin Franklin is Chairman and CEO of Jarden Corp. (JAH)   He has put it together. Thank you for making money for people, you have done a great job.

Martin:    Thank you.

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