Regulations and Compliance

Many federal and state government regulations affect the marine industry. Trade Only follows developments as companies strive to operate in compliance with the rules.

Groups seeks joint effort to fight fishing ban

The Southern Kingfish Association is calling on its members, tackle manufacturers and the boating and fishing communities to speak out against the closure of certain fishing areas to recreational boaters and anglers. Recently the National Marine Fisheries Service and the South Atlantic Fishery Management Council told fishermen they were “required by law” to close all…more

Group advocates quota increase for black sea bass

The Mid-Atlantic Fishery Management Council recently recommended an increase in the 2010 black sea bass quota. “The [council]… agreed by consensus to increase its [acceptable biological catch] recommendation for black sea bass for 2010 to 4.5 million pounds – a 1.79 million pound increase in ABC for the 2010 black sea bass fishery,” the group…more

Orca whale restrictions are delayed

Proposed federal rules to protect endangered Puget Sound orca whales by restricting how close recreational and commercial boats can get to them will not go into effect this year, as expected. The National Oceanic and Atmospheric Administration extended the public comment period from its original closing date in October to Jan. 15, according to the…more

Unemployment unchanged at 10 percent

The unemployment rate for December remained flat at 10 percent, according to the U.S. Labor Department. The December payroll number was worse than forecast as non-farm payrolls fell by 85,000 last month, compared with a revised 4,000 gain in November. Even though the payroll number was worse than expected, the data reflects an improvement in…more

Homeland Security boating funds outlined

In the Dec. 18 Federal Register, the Department of Homeland Security outlined spending on recreational boating safety projects, programs and activities. These programs were funded under the Provisions of the Transportation Equity Act for the 21st Century. The law makes $5.5 million available for these programs. Expenditures included $789,019 for the Recreational Boating Safety Outreach…more

SBA provisions extended to February

The Senate voted this week to extend funding for certain SBA Recovery Act provisions through February. “Small businesses have been left in limbo since the funding ran out in late November. [This] action by the Senate will immediately clear the waiting list established by the SBA and will provide a lifeline to small businesses in…more

Obama to urge bankers to lend more

President Obama is expected to tell bankers today that they need to start lending money again. “He’s going to have a serious talk with the bankers,” National Economic Council director Larry Summers said on ABC’s This Week. “The country did incredible things for the banking industry. Those things had to be done to save the…more

Unemployment drops to 10 percent

The unemployment rate dropped to 10 percent in November, from 10.2 percent in October, the U.S. Bureau of Labor Statistics reported today. In November, both the number of unemployed people, at 15.4 million, and the unemployment rate edged down. At the start of the recession in December 2007, the number of unemployed people was 7.5…more

SBA issues first marine loan

The first marine loan was recently issued under the Small Business Administration’s Dealer Floor Plan pilot program that was launched earlier this year. The Tennessee-based Cleveland Boat Center finalized its SBA Dealer Floor Plan loan with longtime SBA lender Citizens National Bank of Athens, Tenn., the National Marine Manufacturers Association reports. “Our SBA loan has…more

Unemployment tops 10 percent

Unemployment rose to 10.2 percent in October, its highest rate since April 1983, the U.S. Department of Labor reported this morning. It was up from 9.8 percent in September. The largest job losses during the month were in construction, manufacturing and retail trade. In October, the number of unemployed people stood at 15.7 million. Since…more

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