What Oil Spill? Transocean Hands Out Bonuses for Best Safety Year Ever
Even Wall Street executives have to be smacking their heads over this one The company that ran the Deepwater Horizon oil rig (before it exploded, killing 11 and filling the Gulf of Mexico with oil) has decided to give its executives bonuses for achieving "the best year in safety performance in our company's history" There are no words .
Even Wall Street executives have to be smacking their heads over this one. The company that ran the Deepwater Horizon oil rig (before it exploded, killing 11 and filling the Gulf of Mexico with oil) has decided to give its executives bonuses for achieving “the best year in safety performance in our company’s history.” There are no words …
(As of this posting, we’re still waiting for Transocean’s safety report to finish loading. In the meantime, we’re getting our quote from the BBC, which has read the document.) — PZS
Your support is crucial…BBC:
The company’s annual report acknowledges the explosion on the rig, but goes on to say that it exceeded internal safety targets.
“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 report says.
“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,” it adds.
With an uncertain future and a new administration casting doubt on press freedoms, the danger is clear: The truth is at risk.
Now is the time to give. Your tax-deductible support allows us to dig deeper, delivering fearless investigative reporting and analysis that exposes what’s really happening — without compromise.
Stand with our courageous journalists. Donate today to protect a free press, uphold democracy and unearth untold stories.
Experts suggest there's no better time to be a top-level corporate executive as the median income of CEOs of S&P 500 companies reached $10.1 million at the end of 2013.
Bonuses on Wall Street jumped 15 percent in 2013, while record numbers of New Yorkers poured into homeless shelters.
Jack Lew is a liberal who worked for Speaker Tip O'Neill and studied under beloved progressive Sen Paul Wellstone, but he was also the chief operating officer of a Citigroup unit and doesn't fault deregulation for the shoddy economy (more)Jack Lew is a liberal who worked for Speaker Tip O'Neill and studied under beloved progressive Sen.
The United Auto Workers and GM announced late Friday that after more than seven weeks of negotiations the two had agreed on a four-year contract that included new jobs, improved profit-sharing and better health care benefits.
Big banking execs on Wall Street might have noticed a slight pinch in their cash bonuses last year, but that doesn't mean those clever business minds didn't find a way to make up for it through other financial channels.
You need to be a supporter to comment.
There are currently no responses to this article.
Be the first to respond.