Transocean execs get bonuses for "best year in safety"

[Escaep]

Transocean Ltd., owner of the Deepwater Horizon oil rig, awarded millions of dollars in bonuses to its executives after “the best year in safety performance in our company’s history,” according to an annual report and proxy statement released yesterday.

I must be gravely misunderstanding something here, because this is rage inducing. If an oil rig exploding and killing 9 of their employees and leaking 300million barrels of oil into the Gulf for 86 days leads to a good year in safety, what does it take for a bad year?

“Notwithstanding the tragic loss of life in the Gulf of Mexico, we achieved an exemplary statistical safety record as measured by our total recordable incident rate and total potential severity rate,” Transocean states in the filing. “As measured by these standards, we recorded the best year in safety performance in our Company’s history, which is a reflection on our commitment to achieving an incident free environment, all the time, everywhere."

http://blogs.forbes.com/jeffmcmahon/2011/04/02/transocean-bonuses-deepwater-horizon-gulf-spill/

 

[Tyguy]

Well, in their defense...they didn't ruin the ENTIRE ocean.

 

[Ren.182]

Wow... :|

 

[Eejit]

Notwithstanding the tragic loss of life in the Gulf of Mexico, we achieved an exemplary statistical safety record

Hey guys apart from that godawful accident with enormous consequences we've done really well. It doesn't really count so let's give ourselves a bonus.

 

[ríomhaire]

Yep America, what we really need is less government regulation of businesses. It works out really well for everyone.

Edit: According to the comments in that article the company made a profit from the disaster because of the insurance claim. Isn't making a profit from an insurance claim illegal?

 

[Stylo]

That money could be being put towards the debt that everyone is in at the moment because of the global recession. Good going though.

 

[Matorbogl]

Banks and hedge fund managers got billions after wrecking the economy, it's only fair Transocean gets money for wrecking the Gulf of Mexico. America is after all built upon the principles of fairness.

 

[Stylo]

TransoceanExecutivesluvin lyf2K11 <3 <3 <3

 

[BabyHeadCrab]

You guys just don't understand.

 

[Stigmata]

Your Democracy is a Corporatocracy. Mine probably is, too. That's about all I have to say about this.

 

[BabyHeadCrab]

Seriously though