Tuesday, January 24, 2017

Buyback fails

We told you in November that Southeast Alaska salmon seiners would vote on whether to buy out more permits.

So, how did the election turn out?

"We received 180 ballots of which 132 were for and the remaining 48 against," said Michael Sturtevant, with the National Marine Fisheries Service.

For the referendum to be successful, at least 158 of the 315 permit holders would have had to vote in favor, he said.

A notice with more details will be published soon in the Federal Register, Sturtevant said.


Anonymous said...

Overwhelmingly in favor

Almost 80%

Bad vote timing with the holidays and all

Maybe next time

Seeing that the average seiner almost lost their boat in 2016 its an idea long overdue

Anonymous said...

Way to go you idiots

I've been a seas member for 31 years and how could seas screw this up so badly
I hear seas didn't even support
Wtf boyos

Anonymous said...

Fleet is 300% more efficient than twenty years ago

So if it was the right number back then you dumbasses have three times the boats that you need

Anonymous said...

Many have lost their boats because of too much debt, that's been unchanged in this business for 1000's of years.

How about a bigger loan? That I'll fix it.


Anonymous said...

In this referendum, not voting is the same as a 'no' vote because a majority of all permit holders has to approve of it.

Clearly, the guys who are in this fishery for the long term are not willing to accept making 30 years of payments on a SECOND buyback loan (we're already paying for the 2012 buyback) just so they can subsidize the exit of guys who are ready to retire.

Anonymous said...

No one told the guys to buy huge super seiners and go a million dollars in debt. Bad business decisions shouldn't lead to a buyback. If you lose boats you could lose buyers. Everyone who bought into the fishery or bought new boats should have realized what they were getting into. The only thing they were sure of when they went into debt was the number of permits. Everything can change other than that. Its the nature of a resource user's business.

slipperskipper said...

All the old dogs want the younger fisherman to subsidize their retirement. Sell your boat and permit for what its worth or keep fishing.
The right to fish is NOT a 401K.

Anonymous said...

The old better hurry up and sell or they are going to have to pay capitol gains to the state.

slipperskipper said...

Yes,but thankfully they wont have to pay as much as they would have if they had received some inflated buyback price.

Anonymous said...

I think that we should try it again, with a 10 percent tax on any permit sale for the next 10 years going towards the debt.