Jim Cramer Blog

Erin Burnett began Wednesday's show discussing NYSE CEO John Thain going to Merrill. Charlie Gasparino of CNBC says, for John, it will be a huge undertaking and may have to lay some people off in the beginning. Merrill Lynch is refusing to confirm or report on the new CEO. Dennis Kneale of CNBC says NYSE president Duncan Niederauer will also become NYSE CEO. Niederauer says that electronic stock trading without human intervention is still questionable as the best model for trade. He will be working for a model of 21st century trading in months to come. Next, Tracy Krohn of W&T Offshore (WTI) says that he and his company are focusing on the Gulf of Mexico. W&T Offshore has interests in over 2 billion acres of natural resources. 65% of W&T's reserves are developed and 55% of them are natural gas reserves. They also have 200 exploration fields in federal and state waters, and say if there is a change in the eastern seaboard drilling restrictions W&T will be prepared. Next was the weak dollar. Robert Kessler of Kessler Companies says U.S treasuries often profit when other asset classes loose value. Investors in treasuries don't have to worry about a recession. Rick Santelli of CNBC says United Airlines and Delta Airlines are discussing a possible merge. Steve Liesman of CNBC says the Federal Reserve Board will be opening up with forecasts and predictions for the upcoming year. These reports will be covering inflation, and the potential of the current economy. Robert McTeer of the National Center of Analysis says the fed hopes to improve accountability and understanding of monetary policy in televised forecasts in the future. He says the fed will make these forecasts more frequent and more transparent. The Federal Government will compile and release projections four times a year rather than two. Stop Trading with Jim Cramer was next. Jim Cramer said Duncan Niederauer will do a great job as CEO of NYSE Euronext (NYX), adding that Niederauer has learned a tremendous amount since joining the exchange several months ago. Niederauer had previously been a trader at Goldman Sachs (GS).

Labels: CNBC, Duncan Niederauer, John Thain, MER, NYSE, Street Signs, street signs recap, WTI