Cramer talks General Electric changes

|About: General Electric (GE)|By:, SA News Editor

This week's move by GE to replace CEO Jeffrey Immelt with John Flannery makes the stock a buy, according to Jim Cramer.

"The change is welcome," he said during an exclusive conference call with members of his Action Alerts PLUS club for investors. "Flannery will make the tough cuts that Immelt seemed incapable of making. We're looking for $2B in savings."

Cramer also credited activist investor Nelson Peltz and his Trian Fund Management for helping to instigate the change.

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