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Big Boom In Basic Need: Security; A diversified industry rises up to meet threats both public and private.(INDUSTRY SNAPSHOT)(SECURITY AND SAFETY SERVICES)
Byline: DONNA HOWELL
The stock market is experiencing a flight to safety -- but not the usual kind. This one is literal.
In a season of heightened terror alerts, the focus on homeland security has helped lift stocks of security and safety service providers to 10th among the 197 groups that IBD ranks by six-month price action.
1. BUSINESS
The group sports a diverse lineup of firms. They help track, block and tackle the bad guy. Or protect people and things in danger.
"Security is one of man's basic needs. You've got food, shelter and security," said Rick Smith, chief executive of stun gun maker Taser International Inc. in Scottsdale, Ariz. "We're now out of the Cold War era and into the terrorist era. The nature of private security is becoming much more intensive."
** Name of the game: Homeland security is boosting the business of some firms in the group. So are the changing, everyday needs of police and emergency workers -- and a corporate push for efficiency.
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