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Old 04-03-2011, 11:46 PM  
mohel
 
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2010 "the best year in safety performance" in company history

Despite Gulf oil spill, rig owner executives get big bonuses

Despite Gulf oil spill, rig owner executives get big bonuses - CNN.com

Quote:
(CNN) -- Declaring 2010 "the best year in safety performance in our company's history," Transocean Ltd., owner of the Gulf of Mexico oil rig that exploded, killing 11 workers, has awarded its top executives hefty bonuses and raises, according to a recent filing with the U.S. Securities and Exchange Commission.
That includes a $200,000 salary increase for Transocean president and chief executive officer Steven L. Newman, whose base salary will increase from $900,000 to $1.1 million, according to the SEC report. Newman's bonus was $374,062, the report states.
Newman also has a $5.4 million long-term compensation package the company awarded him upon his appointment as CEO in March 2010, according to the SEC filing.
The latest cash awards are based in part on the company's "performance under safety," the Transocean filing states.
"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," the SEC statement reads. "As measured by these standards, we recorded the best year in safety performance in our Company's history."


Transocean president Steven L. Newman was awarded a $200,000 salary increase.
The company called that record "a reflection on our commitment to achieving an incident-free environment, all the time, everywhere," the SEC filing states.
The company did not respond to an e-mail from CNN seeking comment.

The April 20, 2010, explosion on the Deepwater Horizon rig injured 17 workers and killed 11 others, including nine Transocean employees, according to the SEC filing. It has been called the worst spill in U.S. history.
The well was capped three months later, but not before millions of barrels of oil spilled into the Gulf.
2010 "the best year in safety performance" in company history-tim-leary.gif 

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Old 04-04-2011, 01:47 PM  
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Bristol, Tennessee
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and now that it is past no one will really care.....

just as banks that needed bailed out are not giving out bonuses and dividends but the government couldn't dare ask them to pay for their mess.....

or how gm made profits this year but paid no taxes because the "former gm" company lost money..... It would be nice if we little people could do something similar and spread our taxes around, I'd like to move some of my earnings to my college years and get that tax bracket....

Or google/ge/exxon despite making huge profits are not paying any taxes due to tax sheltering methods and in some cases are actually being given tax credits!!! I think this shared sacrifice is pretty obvious it is only to be shared among the average hard working american worker, not he wealthy elite
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