Management of New England's offshore fisheries began in 1950, following ratification of the International Commission for the Northwest Atlantic Fisheries treaty. Due to both limited authority and management protocols, sustainable fisheries were not achieved. Frustrated with severe overfishing, both the United States and Canada opted to declare 200-mile fishery zones effective in 1977. Unfortunately, US jurisdiction within 200 miles failed to prevent overfishing. Previously blamed on foreign vessels, the near demise of offshore stocks in recent years was caused by the domestic fleet. New England's groundfish stocks thus reached their lowest levels since statistics were first maintained. The history of management efforts and the factors that led to today's crisis are examined. If New England's fishing industry is to once again become a viable and vibrant enterprise, new and creative management concepts must be considered.