Commercial Fishing Vessel, photo/USCG/Dann Blackwood.

SouthCoastToday: Sharp new cuts in fishing quotas mark the start [May 1, 2013] of the fourth year of fishing catch shares and sector management in the Northeast, NOAA’s prescription for rebuilding fish stocks and streamlining the fishing industry.

Today is also known as “The Day of Reckoning,” the unofficial name given by those on both sides of the issue. The implication is that the fishing industry is finally paying the price of failed management that has brought a collapse of some groundfish species and a sharp curtailment in fishing for the most popular species: cod, yellowtail flounder and haddock.

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