Gulf Spill Company Hands Out “Safety” Bonuses to Executives

Al Jazeera reports:

Transocean Ltd., the owner of the Deepwater Horizon oil rig that exploded off the Gulf of Mexico last year, has given its top executives bonuses for achieving the “best year in safety performance in our company’s history”, despite the blast that killed 11 people and spilled 200 million gallons of oil into the ocean.

Transocean noted “the tragic loss of life” in the Gulf when the rig operated by BP PLC exploded last April. But it said the company still had an “exemplary” safety record because it met or exceeded certain internal safety targets concerning the frequency and severity of its accidents, according to the filing with the Securities and Exchange Commission on Friday.

Safety accounts for a quarter of the executives’ total cash bonuses. The total bonus for CEO Steve Newman last year was $374,062.

The company said in a regulatory filing that its most senior managers were given two thirds of their total possible safety bonus.

The company said its bonuses were appropriate as a way to recognise its executives’ efforts in “significantly improving the company’s safety record” and implementing a new internal planning system…

Read more here.

Al Jazeera reports on the wave of illnesses in the Gulf coast:

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  • Simiantongue

    They still got 2/3rds of their safety bonus? Ok yeah I see here in their official release that’s justifiable. In order to lose the next third of the safety bonus they would have to hold babies by the ankles with one hand while beating them with a large stick with the other, I can see that, it’s justified. Says here that in order to lose the last third of their bonus they’d of had to…. ugh!…. *wave of queasiness* Ok we’ll skip that part.

    • GoodDoktorBad

      Give them some credit for only killing off 1/3 of the ecosystem in the gulf. Thus the 2/3 bonus…

  • Simiantongue

    They still got 2/3rds of their safety bonus? Ok yeah I see here in their official release that’s justifiable. In order to lose the next third of the safety bonus they would have to hold babies by the ankles with one hand while beating them with a large stick with the other, I can see that, it’s justified. Says here that in order to lose the last third of their bonus they’d of had to…. ugh!…. *wave of queasiness* Ok we’ll skip that part.

  • Anonymous

    Give them some credit for only killing off 1/3 of the ecosystem in the gulf. Thus the 2/3 bonus…

  • efrain

    disgusting…all of them

  • efrain

    disgusting…all of them