The BI Weekly 5 is a collection of news, tips and data affecting the boating industry this week. Be sure to look for the BI Weekly 5 every Tuesday on BoatingIndustry.com.
1. New fishing and boating regs under discussion for Florida Keys
The National Marine Manufacturers Association and other groups recently met to develop proposed recommendations for the Florida Keys National Marine Sanctuary (FKNMS) on rules that regulate boating, fishing and other activities. NMMA's goal is to ensure that the recommended changes are backed by current science, account for socioeconomic impact and avoid unjustly targeting one user group from another.
The group will likely present its recommendations in August.
2. Caterpillar pays $46 million in engine fire lawsuit
Caterpillar has agreed to pay $46 million to settle a lawsuit alleging a defective engine started a fire in 2009. on a ship under construction by Bender Shipbuilding & Repair Co.
3. San Diego, Houston boat shows kick off this week
Two more boat shows will look to bring more folks to the water this week. The San Diego International Boat Show, which drew about 6,500 people last year, starts Thursday.
The Houston Summer Boat Show also opens up Wednesday.
4. Ethanol policy blamed for poor shrimp season
The Renewable Fuel Standard and its required ethanol usage levels are having a negative impact on the shrimp harvest in the Gulf of Mexico, a Texas A&M official says.
The problem is the high amount of fertilizer being used to grow corn for ethanol, which is creating a “dead zone” in the gulf, according to Larry McKinney, the executive director of the Harte Research Institute, Gulf of Mexico Studies at Texas A&M University-Corpus Christi.
5. House approves tax break for small businesses
The U.S House has voted to make permanent a tax break that makes it easier for small businesses to buy new equipment and make improvements.
The break expired at the end of last year. The bill is opposed by Democrats in the House because of its $73 billion price tag.