News Summary: Fishermen say new rules mean ruin

TIPPING THE SCALES: The New England Fishery Management Council has approved a 77 percent cut on the Gulf of Maine cod limit and 61 percent for Georges Bank cod. They follow a slew of other reductions on catches of other fish.

FLOUNDERING: Fishermen say now they're staring at industry collapse because they've been left with far too few fish for most boats to make a living.

TANGLED NET: NOAA's top federal fisheries regulator acknowledged the reductions will be devastating. But he said fish stocks are struggling and the industry's steady, excruciating decline must be reversed.