GloucesterTimes.com, Gloucester, MA

Fishing Industry Stories

July 1, 2010

Captain's choice: Sell or take on lifetime debt

Dave Marciano: Portrait of today's fishermen

Dave Marciano sold his federal groundfishing permit earlier this year — putting him on the outside of a way of life that had given him the chance to work for himself, something that looked pretty darn good to "a guy with a high school diploma."

Born and raised in Beverly, Marciano fished from an early age.

"I always liked fishing with rod and reel, started working on party boats as a kid," he said.

He was only 9, in fact, when the mate didn't show up and he filled in.

"I moved to the party boats in Gloucester, worked as a deck hand for eight to 10 years, and bought my own boat in 1993," he recalled.

Marciano, 45, said the extremely low allocations of fish, imposed to achieve full recovery of overfished stocks by a 10-year deadline, left him the option of buying another permit or selling the one he had.

But permits he found to buy were going for $250,000.

"If your home is not paid for, and the boat's not paid for and the kids' education is not paid for ...," he said, his voice trailing off. "That's out of my league. If I bought, I'd be servicing debt for the rest of my life."

Instead, Marciano said he would sit and watch how the fishing season plays out under the new catch share system.

"I'm going to sink some money into the boat, then put a 'For Sale' sign on it, and dabble with tuna and lobstering this summer and see what happens," he said.

Marciano said the only good thing is he will have some time for his three kids, with one ready for college.

"It crushes me to walk away," Marciano said.

Richard Gaines can be reached at 978-283-7000 x3464, or rgaines@gloucestertimes.com.

Text Only | Photo Reprints
Fishing Industry Stories

Pictures of the Week
Your news, your way
Comments Tracker
AP Video
Raw Video: Hearse Arrives at N.J. Funeral Home Authorities: Houston Found Underwater in Tub Arm Wrestler Not Guilty Plea in Wife's Death Raw Video: Houston Body Flown From L.A. to N.J. First Person: Westminster Kennel Club Dog Show Obama's New Budget: The Winners and Losers Gregoire: Marriage Equality Is Right for Wash. Bacteria Keep Swimmers Off Some Fla. Beaches Police: Houston Found Under Water, Unconscious Sandusky Can See Grandkids, Have Local Jury Obama Unveils $3.8 Trillion Budget Raw Video: Israeli Embassy Car Attacked Coroner: Don't Know Houston's Cause of Death Yet Valentine Greetings Sent Worldwide From Loveland Greek Austerity Measures Spark Riots Raw Video: Obama Budget Goes to Capitol Hill Arab League Wants U.N. Help in Syria Nordic Festival Puts North Korea in Spotlight 'Rumor Has It' Adele's Rolling in the Grammys Grohl, Grammy Nominees Cut Up on the Red Carpet