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Alaska commercial fishing news and notes
About me
- Deckboss
- I'm a journalist covering Alaska's commercial fishing industry. My real name is Wesley Loy. Reach me at wloy61@gmail.com.
Alaska commercial fishing news and notes
10 comments:
You have to wonder why Trident got involved with the False Pass plant in the first place. With the countrys largest fish plant 12 hours by boat/tender to the west, and their Sand Point plant 12 hours to the east, what were they thinking?
I doubt the Agreement allows it but Trident should turn it around and tell APICDA to buy them out for the price they are requesting. It seems like APICDA isn't dealing in good faith.
Williams Kastner is the firm representing APICDA. They have a very good reputation and several outstanding attorneys. It is not likely they would encourage a client to file a frivolous suit or to not deal in good faith.
Likely Kastner got involved after the hustle didn't work out for APICDA. We will get a better picture of the disputes once the defenses files its answer. Hopefully deckboss posts it here. Trident seems stupid for signing up for a deal that has a risk of going sideways like it did here.
Maybe they wanted to keep others from going in with APICDA. But that didnt work out so well. Silver Bay came in with a huge plant. If you look at the catch numbers and the cod and pollock numbers there just isnt enough fish. Maybe in the end APICDA is the smart one laying their plant off on Trident.
It was definitely measuring contest between SBS and Trident. I hate to say it but feels like both parties lost.
The biggest loser is Peter Pan. Dominated the area for years but now just about irrelevant out there.
I would guess all parties--including Silver Bay--would like a "do over" in False Pass. Trident got involved with the APICA plant to keep Silver Bay from cutting a deal with APICDA. Silver Bay retaliated by building a huge and expensive plant next door that they can't get enough fish for...salmon or whitefish. Everyone is hemorrhaging money. I imagine lots of head shaking and regrets in the company board rooms.
The SBS boys got in over their heads. I guess they figured what they could do in Sitka, they could do anywhere else. And for a while that has worked. But False Pass was a step too far. Trident is hemorrhaging money because they have had a brain drain over the last ten years. The old man and the people that he hired and the people he partnered with built that company. But they are mostly gone now. So bad decisions have been getting made, like the False Pass deal.
https://www.forbes.com/sites/michelatindera/2020/10/20/seafood-billionaire-with-money-on-the-line-donates-to-trump/#28b14a05130e
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