Jim's Comments BEFORE the interview:         While everyone else is worried about what the Fed will do tomorrow, or lousy consumer confidence, or the high home foreclosure rate, I want to direct your attention to something else...

Hey, how about something positive?... The fact that America has, once again, become the greatest manufacturing nation on earth, and one of the cheapest. The first courtesy of the best engineering know how in the world... yes, we have it. And the second, because of the weak dollar, which I cheer.

This week's dedicated to the best manufacturing stocks in America... the ones that are exporting like crazy, blowing away the numbers, making us proud...

I realized yesterday... that these stocks have become, not metal benders, but new technology stocks... The manufacturers... that's technology! These are companies with double-digit organic growth that are making real things... real necessities that the rest of the world is buying, because we make them better and cheaper!... not just to refine and improve luxuries, for heaven's sake... That's what most tech companies that we trade everyday really do. They've lost their way!

Now, today I want to introduce you to another great American manufacturer/new technology company, and it's Parker Hannifin (PH)...

Long, long, long a Cramer-fave, this is the kind of dirty industrial stock that's supposed to be flat on its back, at it's weakest right now, as America is in a recession. But PH's industrial business - making up 76% of its revenue - is a real ROW-er... 55% of its sales coming from the rest of the world.

PH's industrial business, which is a gem, is growing its sales at a 32% clip internationally. You've got a business with incredible organic growth... 25% increase in earnings. That's why this company works, even though America is in the doghouse... although PH is so good, they managed to eek out a 4% sales growth in North America in the last quarter.

This company, like Eaton (ETN), has reinvented itself, under the amazing stewardship of Don Washkewicz.  But, just like with ETN...  Washkewicz gets no respect for delivering what they do... the new technology that's levered to the strength of the global economy.

We need to understand that, it doesn't have to do with the silicon valley to get a higher multiple...  It can stay in Cleveland.  The Street's just not bullish enough with this one.  16 analysts who cover this stock...  Only 4 say it's a buy... 12 call it a hold.   These guys have got to wake up!   Not only that, people are shorting the stock... it's got a high short interest.  Those people are morons! 

The shorts don't understand where PH fits in the new global economy.  We do at Mad Money.  We know that a company like PH... that has good earnings, and has a great investment thesis... and trades at 12x earnings... I mean, c'mon... 19% long-term growth, incredible dividend record, and buys stock back aggressively...  Isn't this what we're looking for?  It's one of the top five dividend boosters 51 straight years. 

How does the company do it?  What's the future?  Let's check with Don...