A panel saw has a first cutting blade for cutting stock in a first axis and a second cutting blade for cutting the stock in a second axis. The first blade moveable from a cutting position to a position in which stock can be slid between the cutting blade and a supporting frame of the panel saw. The panel saw allows repeated cross cuts and rip cuts without changing the cutting location of the first cutting blade. A control system is configured to retract the first cutting blade from contact with the stock if the current draw exceeds a value. The control system may also retract a cutting blade when it senses the end of a panel being cut.