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Sunday, March 28, 2010

Local Lobstermen See Income Drop Sharply Again

You know......

I don;t like to see entrepreneurs suffer. Plus, I have several close friends who lobster. I don't want them or their kids to suffer.

But, lobstermen in Maine have had a pretty good run. The bull market in lobsters can be traced to the bull market in stocks and real estate.

And now, we're in a depression. Lobstermen often believe they are isolated from reality and market forces. 

Not so.

What's more, there's always been an incredible arrogance among many lobstermen. Many of the younger ones built huge estates on the ocean, drive brand new SUVs, Pickups and Escalades. Many of them strut around town like they're invincible.

Well, apparently, contrary to popular opinion, people do not eat lobster "no matter how bad things get".

In other words, in a depression, like the one we're in right now.....people often forgo lobster dinners.

Yes....people still eat lobster. But it's only a small fraction of the population. Most people, and especially people in Maine, do not eat lobster that often.

Have you ever stopped to consider a lobster is 95% bone and water?

On top of that, lobsters are referred to as "bugs" by lobstermen. Lobsters are descendants of cock roaches.

Oh well.....

Here's the story........................

Knox County lobstermen saw their income plummet 18 percent last year, according to preliminary landing reports.

The amount of lobster landed across the state reached a record high but the price per pound paid to the harvesters continued to fall, resulting in a significant decline in income. The 75.6 million pounds of lobster landed in Maine were the most since the Maine Department of Marine Resources and National Marine Fisheries Service began keeping records.

Department of Marine Resources records go back to 1950, but only since 2004 have dealers been required to provide information on the lobsters sold to them.

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