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American Seafoods restructures debt, attracts new backers

August 22, 2015 North Pacific, Pacific

After reeling in new capital, the company that calls itself “the largest harvester of wild-caught fish for human consumption in the U.S.” has reduced its debts from a previously estimated $900 million-plus to $740 million. CEO Bernt Bodal said the deal gives American Seafoods stability and adds as investors some experienced industry people with whom he’s had a “very, very long-term connection.” Those include Chris Lischewski, CEO of Bumble Bee Foods in San Diego; Amy Humphreys, former CEO of Seattle-based Icicle Seafoods; and Frank Dulcich, CEO of Mukilteo-based Pacific Seafood Group. Read the rest here 11:03

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The New England groundfish debacle (Part III): who or what is at fault? Nils E. Stolpe/FishNet

It took me a while to decide how to most accurately describe the situation that has been visited upon the New England fishing communities that are and since colonial times have been dependent on the groundfish fisheries.

NILS STOLPE: The New England groundfish debacle (Part IV): Is cutting back harvest really the answer?

While it’s a fact that’s hardly ever acknowledged, the assumption in fisheries management is that if the population of a stock of fish isn’t at some arbitrary level, it’s because of too much fishing. Hence the term “overfished.” Hence the mandated knee jerk reaction of the fisheries managers to not enough fish; cut back on fishing. What of other factors? They don’t count. It’s all about fishing, because fishing is all that the managers can control; it’s their Maslow’s Hammer. When it comes to the oceans it seems as if it’s about all that the industry connected mega-foundations that support the anti-fishing ENGOs with hundreds of millions of dollars a year in “donations” are interested in controlling. Read the article here

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