Looking at a comment made to my last post, regarding military contracts, I began looking around to see what kind of a variety I could find in the subject of those contracts. The comment made had been about a company's "viability in their chosen fields" and examples of construction and weapons systems were given. Most of the time, when people think about military contracts, they think of the above examples. So, I wanted to try and find the most "oddball" military contract. To me, the story below fits that description. It is something that a lot of people would not realize could a) even be turned into a military contract and b) be given such a large dollar amount. But some things, especially in the military, are priceless.
A news story out of Vermont talks about a military contract acquired by one local company. Believe it or not, the contract for $3M with this company is for nothing more than socks! That's right! Socks are more of a crucial ingredient to the military than most would think. Not only are military members, especially deployed members, on their feet a majority of the time, but there are also numerous instances where one may not get to change socks for a few days. Marine Sgt. Joshua Changinman speaks in the article about this necessity. Cabot Hosiery Mills, the company that received the contract, is a small factory in Vermont that specializes in knit items, such as thick socks. With this contract they were able to order more equipment and hire more people.
While this story highlights a lot of the same advantages of military contracts with local businesses as the last one did, I just thought it would be interesting to show how something as simple as socks can earn a company $3M. Is there something you would sign a $3M contract to receive? I think for me personally, that would have to be coffee. But everyone is different and most might think a $3M contract for socks is outrageous. What is your opinion? Read the article and feel free to leave a comment either supporting or criticizing.
Tuesday, October 25, 2011
Tuesday, October 4, 2011
Looking at the Brighter Side!
This week I am going to switch gears a little bit. I am still going to be talking about how the military can affect local businesses, but in a more positive way than before. (I told you I would try to find a more uplifting story!) I want to talk about military contracts with local businesses and how they help, or sometimes hurt. (Come on! It couldn't be all positive.)
Both sides are fairly obvious. These contracts can be very helpful, because it is fueling jobs and work in the local economy. However, it is worth mentioning that the downside of this would be the businesses which get "left out in the cold" to fend for themselves. This does not mean these companies are not worthy of working alongside the military, but there is only so much demand for outside contracts.
An article in the Baltimore Business Journal, written by Gary Haber, illuminates the brighter side of the military helping local businesses. The article talks about three local companies who received contracts from the military. One company was even able to expand and open more jobs by catching this contract. This particular scenario seems to be short-term versus long-term and ongoing, which is another tangent all together. Leaving that aside, more times than not, at least for the time being, contracts between a local business and the military are a plus.
Even though small local companies can sometimes get overlooked when there is military in the area, there are opportunities given to some which help the local economy flourish. So I encourage you to read the article above, then leave a comment - maybe about companies in your area that have benefited from having a contract or deal with the local military organization. I can't promise another story with a happy ending next time, but you will just have to wait and see!
DISCLAIMER:This blog is prepared by a paralegal student as a class project, without compensation. The content of this blog contains my opinion, and is offered for personal interest without warranty of any kind. Comments posted by others on this blog are the responsibility of the posters of those messages. The reader is solely responsible for verifying the content of this blog and any linked information. Content, sources, information, and links will most likely change over time. The content of this blog may not be construed as legal, medical, business, or personal advice.
Both sides are fairly obvious. These contracts can be very helpful, because it is fueling jobs and work in the local economy. However, it is worth mentioning that the downside of this would be the businesses which get "left out in the cold" to fend for themselves. This does not mean these companies are not worthy of working alongside the military, but there is only so much demand for outside contracts.
An article in the Baltimore Business Journal, written by Gary Haber, illuminates the brighter side of the military helping local businesses. The article talks about three local companies who received contracts from the military. One company was even able to expand and open more jobs by catching this contract. This particular scenario seems to be short-term versus long-term and ongoing, which is another tangent all together. Leaving that aside, more times than not, at least for the time being, contracts between a local business and the military are a plus.
Even though small local companies can sometimes get overlooked when there is military in the area, there are opportunities given to some which help the local economy flourish. So I encourage you to read the article above, then leave a comment - maybe about companies in your area that have benefited from having a contract or deal with the local military organization. I can't promise another story with a happy ending next time, but you will just have to wait and see!
DISCLAIMER:This blog is prepared by a paralegal student as a class project, without compensation. The content of this blog contains my opinion, and is offered for personal interest without warranty of any kind. Comments posted by others on this blog are the responsibility of the posters of those messages. The reader is solely responsible for verifying the content of this blog and any linked information. Content, sources, information, and links will most likely change over time. The content of this blog may not be construed as legal, medical, business, or personal advice.
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