Mulally has sold extraneous brands, issued a lot of stock -- all at a profit to anyone who has bought it -- and is about to make another issuance to the big health care albatross that was created to get the post-retiree benefits off the Ford balance sheet once and for all. Ford has the hot cars, including the Taurus and the Fiesta, which is coming here, and it has the best line-up of low-emissions, low-fuel burning cars.

Basically, it is Ford's time.

But it is not yet investment-grade, which is why these next 18 months are so important. If Ford can get to be investment-grade its financing costs will drop as much as its raw costs and its labor costs have dropped. It could be a gigantic virtual circle.

I still prefer the Ford preferred which is a better performer than the Ford common and has tons of dividends in arrears that I believe will be paid back within the next 18 months. making it by far the best piece of paper to invest in with Mulally.

Ford's one exciting story led by a great man. I think as big as it has been in 2009 it will be even bigger in 2010.

Jim Cramer is co-founder and chairman of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. At the time of publication, Cramer had no positions in the stocks mentioned.