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FBN’s Jeff Flock on how defense spending cuts are going to affect defense contractors.
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Taking eight below military contractors and -- facing a whopping 46 billion dollars in spending cuts.
But ironically defense stocks -- in the -- last month Jeff Flock is live from a Fallon Missouri with more on the story -- In the red right now this is what.
Sequester looks like Sheryl take a look they are making the last mats here somebody just about to do some spring on those -- that this location and off Val Missouri right now that's been around here if you would Dutch.
And show the viewers what sequester looks like.
This is -- factory it was filled with workers filled with materials David -- are now you've got to stop -- quarter.
The contract was canceled.
And we've -- to -- off.
About ninety people.
We have 26 employees here last month new word -- -- take a look at this -- -- -- he got from.
The marine contracting unit.
Unfortunately United States Marine Corps will be canceling the new helmet program at this time the sequestration process.
Is impacting many programs from a funding perspective you have one line left.
You make both -- shields for blasts as well as the Max that are in and abrasive military vehicles.
We make the blast mitigating floor -- for the -- vehicles for the military.
-- we also manufacture helmet bedding.
Bruce the ballistic helmets of course just one of many defense contractors take a look at the defense stocks defense -- -- by the -- as we do that -- you see what these -- look like that's what's in -- in the -- base of the vehicles that help wonders IED that explodes under a vehicle.
Defense stocks largely down today and if you look at -- to big defense contractors.
Not great news for them even though here today -- -- defence and aerospace ETFs actually seem to be doing pretty well.
I don't know if we're gonna be continuing to do very well are not what your prospects you've got and before we get away they get -- almost up on this map here.
This is material the government has already contractor for take -- have you -- -- sign on it says do not -- pending government -- disposition.
They're gonna have to pay for that whether they take the match anyway exactly.
They've just up the contract.
We -- have materials on him to build the man's.
-- -- we're not allowed to provide the critical safety items to the troops that they need.
Interest and this.
Is the face of sequester you wonder what the M.
