Transocean, builder of the BP's exploding oil rig in the Gulf, gives CEO a $374,000 safety bonus!

[Better Believe It]

Transocean gives safety bonuses despite Gulf spill deaths
Company filing calls safety record 'exemplary' for meeting internal goals
msnbc.com staff and news service reports
April 3, 2011

Transocean Ltd. gave its top executives bonuses for achieving the "best year in safety performance in our company's history" — despite the explosion of its oil rig that killed 11 people, including nine of its own employees, and spilled 200 million gallons of oil into the Gulf of Mexico.

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.

According to a recent Washington Post report, investigators are also examining violations of environmental laws and whether company officials made false statements to regulators, obstructed justice or falsified tests for key pieces of equipment, such as the rig’s failed blowout preventer.

Read the full article at:

http://www.msnbc.msn.com/id/42393722/ns/business-us_business

[bbgrunt]

1. too bad this isn't an April 1st joke.

[girl gone mad]

2. k & r

[Frustratedlady]

3. Where is that head-banging thingy?

Sometimes I think I died and ended up in a funny house, `cause none of this bonus @#$% makes sense.

How do these people sleep at night?

[sarcasmo]

4. I want my life back.