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  • Maurice E.
    July 20, 2010 - 13:03

    If some processors and harvestors are on shakey finanancial ground -- prehaps, just perhaps, instead of more rationalization being the answer --- it seems more likely that since rationalization has been happening for the past 20 years, that it is more likely that that policy is a big part of the problem. Too much borrowing so as to get a bigger piece of the processing pire, and too much borrowing by harvestors so that they could have a bigger entreprise and take over more quotas. Both sectors are 'over captialized , over extended based on a flawed policy that 'rationalization --- getting bigger will solve the problem. Yes part of the real problem is this mis-guided, greed based, policy itself. How about doing more value added processing? Didn't I read recently in a Business Post article that OCI had no interest in the marketing arm of Fisheries Products becaues about 90% of their product undergoes primary processing only? Buy quick, do minimum processing, sell quick --- and make quick, easy bucks. What kind of business plan is that? What is that doing for rural communities? plant workers? diversifing the processors marketing/profits potential? The numbers show it. Over the last 20 years the value added component of the fishery has gone down from near 60% of the total production value of the fishery to 47%. STOP this rape of the raw resource, and STOP this continuing flawed (from a rural community, small boast fishery perspective) policy of BIGGER is better --- when it means over capitalization, exposure to foreign lenders, exposure to foreign take over, exposure to processors over taking the harvestors, exposure in increased costs, and more and more need for quick bucks in order to keep their head above water. Insanity, they say, is when you keep doing the same thng over and over with the same result. Well it is time to stop this foolishness about rationalization solving the problems in the fisher. TAKE NOTE ---- rationalization is part of the problem.

  • Eli
    July 20, 2010 - 13:02

    Take a ride around the coast of Newfoundland and take note of the big expensive fishing vessels aquired since the moratorium. Insanity comes to mind.

  • golfball
    July 20, 2010 - 13:02

    what is the cost of these 2 contracts with these accounting firms ?