National Presto Industries, Inc. (NYSE:NPK)

As military, a lot of the products (ammunition) are not what are the high expended items in Afghanistan and Iraq. NPK's items will be shot consistently year-over-year as part of standard training doctrine. The focus of defense cuts in the near-term are going to hit Overseas Contingency Operations funding, which main expenses are logistical support (approx $1MM per servicemember in Afghanistan), equipment procurement, and facility construction that has been so utilized by the military (my Marine Corps especially), large weapons system procurement (goodbye F-22, EFV, and F-35 delays), and personnel costs (both cutting the force and skyrocketing pay/benefit/retirement/medical expenses. Simulators are the biggest long-term threat but nothing replaces putting real rounds down range.

I cannot speak for the rest, but it seems to me that babies will consistently be desecrating diapers and consumer product sales will improve as the economy gets back on its feet.

I like this stock as a solid dividend payer with low future volitility.

Companies making inexpensive convenience items are going to have plenty of room to grow as globalization marches on.