'Sequestration' Scares Calif. Military Contractors

There's a distinct possibility that automatic, across-the-board federal spending cuts will kick in on March 1, thanks to political gridlock in Washington D.C. Half the cuts would hit the military, and California has a lot at stake, with bases, research facilities and contractors up and down the state. The largest military trade show on the West Coast -- held recently in San Diego -- found lots of people talking about the "s-word."