July 18, 2022 — New Bedford Light reporter Will Sennott’s deep investigation into how foreign private equity is taking over New Bedford’s lucrative waterfront sparked passionate and often angry responses from ordinary citizens.
The article, written in partnership with ProPublica, uncovers a business model that undercuts fishermen and shifts control of the waterfront out of New Bedford.
Following is a collection of email and social media reaction:
“I always learn so much reading The New Bedford Light. The title really lives up to the name, as it truly sheds a light on issues of importance to our community.
Will Sennott’s article on the fishing industry’s rapid takeover by private equity firms was most informative. This is a development that should concern all of us.
New Bedford’s hard-working, devoted fishermen have been the backbone of our economy for generations. What hurts them and their families, hurts me.
Folks are complaining now about the high price of fish and scallops, but it will only get worse. And, personally, I think putting the squeeze on the very people who do the backbreaking work is unconscionable.
Corporate greed at its best.
The question is, ‘Who has the power to stop this practice, and can it realistically be stopped?’”
— Dawn Blake Souza, retired educator and New Bedford Public Schools principal, via email
“This @willsennott and @NewBedfordLight piece on how private equity firms and foreign investors like the Brenninkmeijer family, living in moated castles in Germany, have taken over much of New England’s fishing industry for @propublica, is something else #fishing.”
— Aleksander @aleksanderrr_, via Twitter
“Private equity owns everything with very little regulatory oversight and extremely generous tax treatment. #TaxWealth.”
— JO @JO_loves_coffee, via Twitter
Read the full article at The New Bedford Light