Patented Patriot
Ollie North: hero, patriot...scientist? North has patents on three inventions: the Lightweight Ballistic Protective Device (a bulletproof vest), the Removable Ballistic Resistant Armor Seat Cover and Floor Mat, and the Ballistic Shield (demonstrated, in the patent application illustration, by a ringer for George Bush). These protective devices received patent approval in 1994-95, and North's company, Guardian Technologies International of Dulles, Va., now sells them to both individuals and government agencies, touting itself as "The Life-Saving Company." Lifesaving, maybe--money losing, definitely.
North took the company public in 1996, hoping investors would provide a boost. They didn't. By April of this year, corporate records show that North's salary had been slashed from $113,740 to $16,014. Although the company announced a "200 percent increase in first-quarter revenues" in May, a closer look shows that it still ran a net loss of more than $160,000 for the quarter.
The deal most responsible for keeping Guardian afloat is a contract from the General Services Administration for body armor and restraining equipment. And how would fans of the retired lieutenant colonel, who frequently lambastes "big-government bureaucrats," feel about his relying on Uncle Sam to keep his company going? North was unavailable for comment.
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