Wells Fargo Econ Group was out with a write up yesterday covering which states were at the highest risk of Sequestration related negative business impacts. The city next to the cotton field I grew up in was number seven on their list. Growing up, a lot of friends had parents who were highly trained engineers, they built massive weapons systems and space exploration systems, and cars ;-). Talking with folks back home recently indicates that Sequestration effects are already being felt - weeks have been cut to 4 days, early retirement buyouts are being offered, and real estate owners are trying to hit the eject button.
Someone needs to put out a nice exposure list of properties most likely to be impacted by sequestration.