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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.
Blog archive
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2024
(273)
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April
(22)
- Feds complete Cook Inlet EEZ salmon takeover
- Fewer salmon this year
- Headwinds for board appointees
- More trouble for Peter Pan Seafood
- USCG chaplain removed due to 'loss of confidence'
- Trident closes sale of Ketchikan plant to Silver Bay
- The little blue label
- Owner, captains of crab vessels charged
- Juneau watch
- Disaster relief for Cook Inlet
- Emergency petition on Chinook bycatch denied
- Is Peter Pan dead?
- Cook Inlet EEZ salmon limits specified
- And the winners are...
- Further financial pressure on Peter Pan
- Kids and permits
- It's all over at Sitka
- Processing sector consolidation
- Trident completes sale of its Petersburg plant
- Yukon Chinook shutdown agreed
- End of the line for the Kodiak Enterprise
- Two named to Board of Fisheries
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April
(22)
6 comments:
Hopefully they will pay the fishermen what we are owed. It's been a bad year to be from King Cove. Rodger May and other owners should be held accountable. First, they don't pay from last year's fishing and close with no notice. It's crazy. The state or government should be involved to investigate this.
Here's the order appointing a general receiver:
https://www.scribd.com/document/727854833/Order-appointing-general-receiver
For over 100 years, Peter Pan Seafoods weathered and adjusted to the stresses of supply and demand and carried on as a going concern. How can it be that in only three years' time it imploded? Something doesn't add up.
Rodger May and other owners should be held accountable.
2020: "The Japanese seafood goliath Maruha Nichiro offloaded the flailing Peter Pan Seafoods last year — for a loss of nearly $28 million — to a joint venture between Rodger May of Northwest Fish; the Na'-Nuk Investment Fund, managed by McKinley Capital; and RRG Capital Management."
The new owners had to go through the elevated prices of 2022, and couldn't make it work.
The new owners really had zero Alaska operations experience. Maybe May had some sales experience, but that is no substitute for understanding how the fisheries work and how processing plants are run.
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