I bought a permit in 1990 for $97,500. Shortly thereafter we got 8 to 12 cents a pound for pinks and permit values plummeted to 1/3 that value. The economic viability of the fishery went in the toilet and many fishermen lost their markets. There were too many of us available and we were forced to compete at the lowest prices possible. Many opponents of the buyback say it could cause permit prices to rise making it prohibitive for young people to buy in. Permit prices will go up-- So will the chances of a new operator to make a living because of less potential competition. Looking back, I like one of my son's chances in the next 10 years with a buyback a lot better than without one. I'm voting for it, I don't own two, if one of my boys buys in-- he'll pay more than I did-- I believe it will also be a better investment. Sven Stroosma.
Russell Cockrum-Viking Maid
Its a no brainer to vote for buyback. As a permit holder I plan to pass on the permit to my son. Why would I want to have him to try to make a living with 400 boats .......I was there way before 8 cents..... thats right 1.00 # we still had a tough go We can afford the 3% probably less to maintain the CPU we now enjoy.............really silly not to support something that will double the permit value........russ cockrum
Thanks for the input guys\\
I'll put em up as they come in over the coming weeks.
bobbyt
Ever wonder what the optimum number was supposed to be back in 1974?
ReplyDelete271.
And we just might get there someday.
This drop to 315 IF THE VOTE IS SUCCESSFUL will really mean that only aroun 280 permits maximum can fish. There are dozens of permits that are just held for sentimental reasons or because the guy is fishing CA, WA, OR, False Pass, PWS or somewhere else. I know of 5 guys who just fish Kodiak but will never sell their SE permit as they use it in case Kodiak collapses or has a series of bad winters like they had this year.
So we'd be getting close, but imagine what 271 in 1974 boats means.
If we have 271 fishing in the future, they're likely to be 4-5 times more efficient, but at least it's a start.
I guess if you are so good that you don't care about making money in the future maybe you should vote against the buyback.
And here's another thing I don't get. Guys seem to be excited to post comments on deckboss, but here, where we are all seiners and where it counts, not many post.
bobbyt