However, there are also some very major inshore operations that are affected and that have had a long history in the cod fishery, including St. Anthony, La Scie, Twillingate, Valleyfield, Carbonear, Old Perlican and Fogo Island. T he northern cod moratorium has been devastating for plant workers, fishermen and crew members. Government programs help address their short term problems. However, in the long term, the reality is that perhaps half of these individuals will never work in the fishery again. Fishermen who own vessels and gear, and processors who own plants and equipment are just as devastated.
Many operations are family-owned businesses with long attachment in the fishery going back decades.
They have come through previous industry crises, but now find themselves without the weaponry to withstand this latest, greatest onslaught. They prepared themselves for the 1992 fishing season, expended resources in good faith, were assured that it would proceed, and today find themselves with assets that are close to worthless, if they have any value at all. Its source of supply has been overwhelmingly reduced and, in the case of cod, has almost been wiped out. In four years, the company's total groundfish catch dropped from 139,000 tonnes in 1988 to 56,000 tonnes in 1992. The catch of cod alone has decreased from 85,000 tonnes in 1988 to 17,000 tonnes in 1992 - a drop of 80 percent in the catch of its most valuable species.