G Allen

"Our data, from over 11,000 fisheries worldwide, suggest that catch shares may be a powerful tool to overcome the widespread decline in global fisheries," Costello says.

Catch shares are common in New Zealand, Australia, Iceland, and increasingly the United States and Canada. They guarantee each shareholder a fixed portion of a fishery's total allowable catch, which is set each year by scientists. Much like stock shares in a corporation, these shares can be bought and sold. Each share becomes more valuable when the fish population - and thus the total allowable catch - increases. With catch shares, every shareholder has a financial stake in the long-term health of the fishery.

The results of the study are striking: While nearly a third of open-access fisheries have collapsed, the number is only half that for fisheries managed under catch share systems. Furthermore, the authors show that catch shares reverse the overall downward trajectory for fisheries worldwide, and that this beneficial effect strengthens over time.

"Under open access, you have a free-for-all race-to-fish, which ultimately leads to collapse," says Costello. "But when you allocate shares of the catch, then there is an incentive to protect the stock - which reduces collapse. We saw this across the globe. It's human nature."

The results of this study are certain to have wide-ranging implications as more fisheries in the United States, Canada, Mexico, and elsewhere consider switching to catch shares systems. It is particularly timely for the West Coast of the United States, where the groundfish fishery - which encompasses more than 80 species including sole, rockfish (snapper), hake, and sablefish (Alaskan black cod) - is likely to transition to catch shares. This paper provides the first global evidence that catch shares lead to better biological outcomes, and contributes an important scientific basis to the discussions. The Pacific Fisheries Management Council, which manages the groundfish fishery on the West Coast, will make their final decision during the week of November 2, 2008.

Gaines, Costello, and Lynham say they are extremely grateful for the support of Allen and his foundation. Without their generous support, this important project couldn't have happened, they say.

"Mr. Allen is passionate about the ocean," Gaines says. "The global declines in ocean health have prompted him and his foundation to support the search for innovative solutions using market-based approaches."

Peter Berliner, program director for the Paul G. Allen Family Foundation, says "the Foundation was looking for a way to improve and sustain the health of the oceans. UCSB provided the expertise and knowledge to demonstrate a way of helping our oceans and preserving the economic viability of an industry."

This new study offers hope that fisheries can resist the widespread global collapse projected two years ago by Boris Worm of Dalhousie University, Halifax and colleagues. In fact, the current work uses the same dataset that Worm et al. based their projection on - a global database of fisheries from the Sea Around Us Project that spans the years 1950-2003. The authors of the present study were motivated by that paper to investigate possible solutions. Their analysis suggests that we already have the tools to reverse the current global fisheries crisis.

"Previous papers, including my own, have relied on small samples from the world's fisheries. The great thing about this paper is they have made an attempt to find all the fisheries in the world that have used dedicated access and evaluate the consequences," says Ray Hilborn, a leading fisheries scientist at the University of Washington who was not involved in the study. "The field has now moved beyond listing failures in fisheries. Ecology and economics do not need to collide; win-win solutions have been found."

While the current study focuses on Individual Transferable Quotas (ITQs), which are a type of catch share, Costello and his co-authors note that to maximize benefits, catch shares must be tailored to the ecological, economic, and social characteristics of a fishery.

If designed properly, catch share programs can reduce bycatch - the unintentional harvest of threatened or undesirable species - and protect the ecosystem in the process. By imposing individual limits on bycatch, as well as on desirable species, catch shares create incentives to develop environmentally beneficial new technologies, such as more selective, less damaging fishing gear.

"The difference is comparable to renting an apartment versus the house you own," says Costello. "If you own something, you take care of it - you protect your investment or else it loses value. But there's no incentive for stewardship when you don't own the rights to it."

The Alaskan halibut fishery is a prime example of success. In 1995, when the fishery converted to ITQs, the total season had dwindled from about four months down to just two or three days. These dangerous sprints resulted in boats with their holds crammed full of frozen fish; by thetime the overloaded processing facilities could accommodate them, quality had suffered. Today, the season lasts nearly eight months. Because boats now haul in fresh, undamaged fish in manageable quantities, the per-pound price has increased significantly.

"Halibut fishermen were barely squeaking by - but now the fishery is insanely profitable," says Gaines.

The authors emphasize that for all their strengths, catch shares are not a panacea. Strategies vary widely, and must be carefully designed and continually fine-tuned to meet the goals of the ecosystems, economies and societies they are meant to serve. Controls such as consolidation caps, which prevent any one entity from owning too much of a given fishery, and community-owned quotas have worked in some cases to help maintain vibrant ports and fisheries. Some design features, however, such as how shares are allocated between individuals and processors, can be contentious, as in the Alaskan king crab fishery and elsewhere.

"One of the big challenges in catch shares is how you allocate the shares," Gaines explains. "But this is not a scientific question; it's a value judgment on the part of local communities and their governments."

Overall, the current study scientifically affirms what some fishermen and fisheries managers have long suspected based on anecdotal evidence and firsthand observation.

"Up until now, it's been an article of faith. It's pleasing to see that the data really does show these trends," says Jeremy Prince, a fisheries scientist and former fisherman from Australia who is a leader in transitioning fisheries to catch shares.

"This study gives us a solution to work with in fighting the global fishery crisis," says Boris Worm, who was not involved in the research. "There are fisheries which are doing well because of rights-based management. It's the silver lining that we have been looking for. Now we need to implement these solutions more widely."

Catch shares are not a one-size-fits-all solution. However, the current study demonstrates that ownership can be a powerful ally in the effort to reverse fisheries decline, especially when deployed with complementary management strategies. With proper design, careful monitoring, and real-time adaptation to changing environmental conditions, catch shares can help ensure that the world will enjoy plentiful seafood for years to come.

About the Paul G. Allen Family Foundation

Through the consolidation in 2004 of philanthropist Paul G. Allen's six private foundations (first established in 1988), the Paul G. Allen Family Foundation supports nonprofit organizations focused on making positive and measurable change. The Foundation's vision for transforming lives and building healthy communities guides its four priority program areas for funding, which include nurturing the arts, engaging children in learning, addressing the needs of vulnerable populations and advancing scientific and technological discoveries. For more information, visit the Foundation online at http://www.pgafamilyfoundation.org .

- - - -

CONTACTS: For more information, contact

- Christopher Costello, 805-893-5802, Costello@bren.ucsb.edu

- Steven Gaines, 805-680-1814, Gaines@msi.ucsb.edu

- John Lynham, 808-956-8791, Lynham@hawaii.edu

- Chuck Cook at 805-448-2895

For further media assistance, contact

- George Foulsham, 805-893-3071, george.foulsham@ia.ucsb.edu

- Liz Neeley, 206-954-1150, eneely@compassonline.org

- Matt Wright, 301-412-6931, mwright@compassonline.org

NOTE TO EDITORS: A global map and detailed list of catch shares fisheries, photos and video are available through Science's Press Package (SciPak) and after embargo at http://fiesta.bren.ucsb.edu/~costello/research/CatchShares/ or by contacting Liz Neeley or Matt Wright of COMPASS (contact info above).

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Resigning for personal reasons and to make time available for other interests, Mr. Dolgen said, "I have enjoyed having an opportunity to work with Paul Allen and the other members of the board and with the management of the company, particularly Neil Smit."

Mr. Dolgen, the former chairman of the Viacom Entertainment Group, is Principal of Wood River Ventures, LLC and serves as Senior Advisor to Viacom, Inc. and among his other activities is a member of the board of directors of Expedia, Inc. and Ticketmaster. His position on the board will not be replaced at this time.

About Charter Communications

Charter Communications, Inc. is a leading broadband communications company and the third-largest publicly traded cable operator in the United States. Charter provides a full range of advanced broadband services, including advanced Charter Digital Cable(R) video entertainment programming, Charter High-Speed(R) Internet access, and Charter Telephone(R). Charter Business(TM) similarly provides scalable, tailored, and cost-effective broadband communications solutions to business organizations, such as business-to-business Internet access, data networking, video and music entertainment services, and business telephone. Charter's advertising sales and production services are sold under the Charter Media(R) brand. More information about Charter can be found at www.charter.com.

Cautionary Statement Regarding Forward-Looking Statements:

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our plans, strategies and prospects, both business and financial. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions including, without limitation, the factors described under "Risk Factors" from time to time in our filings with the Securities and Exchange Commission ("SEC"). Many of the forward-looking statements contained in this release may be identified by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "planned," "will," "may," "intend," "estimated," "aim," "on track," "target," "opportunity" and "potential," among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this release are set forth in other reports or documents that we file from time to time with the SEC, and include, but are not limited to:

-- the availability, in general, of funds to meet interest payment obligations under our debt and to fund our operations and necessary capital expenditures, either through cash flows from operating activities, further borrowings or other sources and, in particular, our ability to fund debt obligations (by dividend, investment or otherwise) to the applicable obligor of such debt;

-- our ability to comply with all covenants in our indentures and credit facilities, any violation of which, if not cured in a timely manner, could trigger a default of our other obligations under cross-default provisions;

-- our ability to pay or refinance debt prior to or when it becomes due and/or refinance that debt through new issuances, exchange offers or otherwise, including restructuring our balance sheet and leverage position;

-- the impact of competition from other distributors, including incumbent telephone companies, direct broadcast satellite operators, wireless broadband providers, and digital subscriber line ("DSL") providers;

-- difficulties in growing, further introducing, and operating our telephone services, while adequately meeting customer expectations for the reliability of voice services;

-- our ability to adequately meet demand for installations and customer service;

-- our ability to sustain and grow revenues and cash flows from operating activities by offering video, high-speed Internet, telephone and other services, and to maintain and grow our customer base, particularly in the face of increasingly aggressive competition;

-- our ability to obtain programming at reasonable prices or to adequately raise prices to offset the effects of higher programming costs;

-- general business conditions, economic uncertainty or slowdown, including the recent disruption in the capital markets, the significant slowdown in the housing sector, and overall economy; and

-- the effects of governmental regulation on our business.

All forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by this cautionary statement.

SOURCE: Charter Communications, Inc.

Charter Communications, Inc. 
Marty Richmond, 314-543-5621

According to company officials, Dolgen, the former chairman of the Viacom Entertainment Group, is Principal of Wood River Ventures, LLC and serves as Senior Advisor to Viacom, and among his other activities is a member of the board of directors of Expedia, and Ticketmaster. His position on the board will not be replaced at this time.

Charter Communications is a broadband communications company and the third-largest publicly traded cable operator in the United States.

((Comments on this story may be sent to health@closeupmedia.com))

((Distributed via M2 Communications Ltd - http://www.m2.com))

http://www.10meters.com

Comments on this story may be sent to health@closeupmedia.com

According to company officials, Dolgen, the former chairman of the Viacom Entertainment Group, is Principal of Wood River Ventures, LLC and serves as Senior Advisor to Viacom, and among his other activities is a member of the board of directors of Expedia, and Ticketmaster. His position on the board will not be replaced at this time.

Charter Communications is a broadband communications company and the third-largest publicly traded cable operator in the United States.

((Comments on this story may be sent to health@closeupmedia.com))

((Distributed via M2 Communications Ltd - http://www.m2.com))

http://www.10meters.com

Comments on this story may be sent to health@closeupmedia.com