Based on the “trajic loss of life” and amount of pollution and destruction that the Gulf oil spill caused….I find it very deplorable that Transocean could possibly even rate themselfs with an “exemplary” safty record….how much more assinine could this possibly be?? Its downright disgusting!! Shame on Transocean, BP and Haliburton……not to mention the huge bonus that was provided to these people for their “exemplary” safety record! I urge all people to think about this article next time you have to fill your car up with the ever rising price of fuel.
“Met or exceeded internal safety targets…” And what were those targets? To have only ONE oil rig blow up and not three or four?
Corporate bonuses are no longer bonuses. They tend to be deferred compensation that is paid out annually.
If this was April 1, I would think this was an April Fools Joke. Those that received those bonuses should donate them to the families that lost their loved ones in the explosion. Not sure how they can cash those checks and sleep at night. But I guess we know that the C in CEO does not stand for Conscience.
Shame on you, Transocean. And MORE shame on any executive who actually accepts this blood- or oil-soaked money.
In the same way that AIG employees saw the light about their bonuses maybe NOT being earned, perhaps Transocean’s gifted guys and gals will donate their proceeds to the victim’s funds and even to the Feds for the clean-up expenses.
I’m sure they can find a 501c3 to make a nice tax-deductible contribution to and get a write-off for their 2011 tax returns and still make out like bandits. Not that they WERE bandits, mind you.
I applaud them and their executives. In today’s society there are no bigger watchdogs than those that police themselves. It is unfortunate that their safety record wasn’t spectacular this last year; however, based upon the risk involved with the size of this companies unmatched size, they did have a good year. I suspect that positive safety issues that are internalized and never manifested are rarely written about with conviction. I am glad that this company motivates their employees to get it right.
I know that there must be departments within TransOcean not involved in the running of the Deep Water Horizon oil rig. So if those particular departments were entitled to bonuses regarding their particular safety records, I would not be opposed to their receiving bonuses. I felt the same way about some of AIG’s departments receiving bonuses because those departments were entitled to bonuses because they performed in profitable manner – for example, the life insurance aspect of AIG was profitable, thus they did deserve bonuses and they did deserve the celebration that in the end was nixed. But since the overall financial position of AIG was in the negative- no bonuses should have been awarded until the company paid back every cent that we gave them. Back to TransOcean – I feel that the CEO of TransOcean is not entitled to a bonus since he is responsible for the overall condition of the company and since the company failed so miserably with Deep Water Horizon, his bonus should have been nixed all together. The other departments that were not directly connected to DWH should be awarded the bonuses, but any department that was connected to the failure at DHW should have been passed over when it came to bonuses. Just my opinion, thanks for the opportunity to express my feelings about this.
Tom…Really? The article specifically states a US Government commision said the explosion was caused by a series of time and money savings decisions by Trans BP and Halliburton that created an unacceptable amount of risk. You agree with rewarding those kinds of life endangering decisions with cash?
Yes, really. The general population can only speculate about the company and its decisions. Its easy to throw rocks when there is trouble. In truth, their commitment to do things procedurally correct is and should be rewarding. Its like telling your kid only when they do bad. I don’t think there is any difference to this. You want them doing the right thing ALL the time, not just when they are put into the spotlight because of a issue.
I have to agree with Cheri. Tom, really?? If they are so committed to being procedurally correct, how did DWH happen? Maybe their commitment should be reviewed and their procedures revised. sbechtel78 also has a point, reward the departments that had absolutely no involvement with DWH and kick the CEO in the butt.
Tom….okay. Your reasoning is very forgiving and I can appreciate that. I feel that not prosecuting them for negligence in safety measures is forgiving enough, but I am still having a hard time with their receiving a bonus. But it is the corporate money to do with what they want, not mine. I have the choice to not buy their products if I do not support their practices. Thank you for putting a different spin on the situation.
Based on the “trajic loss of life” and amount of pollution and destruction that the Gulf oil spill caused….I find it very deplorable that Transocean could possibly even rate themselfs with an “exemplary” safty record….how much more assinine could this possibly be?? Its downright disgusting!! Shame on Transocean, BP and Haliburton……not to mention the huge bonus that was provided to these people for their “exemplary” safety record! I urge all people to think about this article next time you have to fill your car up with the ever rising price of fuel.
“Met or exceeded internal safety targets…” And what were those targets? To have only ONE oil rig blow up and not three or four?
Corporate bonuses are no longer bonuses. They tend to be deferred compensation that is paid out annually.
If this was April 1, I would think this was an April Fools Joke. Those that received those bonuses should donate them to the families that lost their loved ones in the explosion. Not sure how they can cash those checks and sleep at night. But I guess we know that the C in CEO does not stand for Conscience.
Shame on you, Transocean. And MORE shame on any executive who actually accepts this blood- or oil-soaked money.
In the same way that AIG employees saw the light about their bonuses maybe NOT being earned, perhaps Transocean’s gifted guys and gals will donate their proceeds to the victim’s funds and even to the Feds for the clean-up expenses.
I’m sure they can find a 501c3 to make a nice tax-deductible contribution to and get a write-off for their 2011 tax returns and still make out like bandits. Not that they WERE bandits, mind you.
I applaud them and their executives. In today’s society there are no bigger watchdogs than those that police themselves. It is unfortunate that their safety record wasn’t spectacular this last year; however, based upon the risk involved with the size of this companies unmatched size, they did have a good year. I suspect that positive safety issues that are internalized and never manifested are rarely written about with conviction. I am glad that this company motivates their employees to get it right.
This article points out the large discrepancy between reality and corporate disregard of what the public feels is correct.
I know that there must be departments within TransOcean not involved in the running of the Deep Water Horizon oil rig. So if those particular departments were entitled to bonuses regarding their particular safety records, I would not be opposed to their receiving bonuses. I felt the same way about some of AIG’s departments receiving bonuses because those departments were entitled to bonuses because they performed in profitable manner – for example, the life insurance aspect of AIG was profitable, thus they did deserve bonuses and they did deserve the celebration that in the end was nixed. But since the overall financial position of AIG was in the negative- no bonuses should have been awarded until the company paid back every cent that we gave them. Back to TransOcean – I feel that the CEO of TransOcean is not entitled to a bonus since he is responsible for the overall condition of the company and since the company failed so miserably with Deep Water Horizon, his bonus should have been nixed all together. The other departments that were not directly connected to DWH should be awarded the bonuses, but any department that was connected to the failure at DHW should have been passed over when it came to bonuses. Just my opinion, thanks for the opportunity to express my feelings about this.
Tom…Really? The article specifically states a US Government commision said the explosion was caused by a series of time and money savings decisions by Trans BP and Halliburton that created an unacceptable amount of risk. You agree with rewarding those kinds of life endangering decisions with cash?
Yes, really. The general population can only speculate about the company and its decisions. Its easy to throw rocks when there is trouble. In truth, their commitment to do things procedurally correct is and should be rewarding. Its like telling your kid only when they do bad. I don’t think there is any difference to this. You want them doing the right thing ALL the time, not just when they are put into the spotlight because of a issue.
I have to agree with Cheri. Tom, really?? If they are so committed to being procedurally correct, how did DWH happen? Maybe their commitment should be reviewed and their procedures revised. sbechtel78 also has a point, reward the departments that had absolutely no involvement with DWH and kick the CEO in the butt.
Tom….okay. Your reasoning is very forgiving and I can appreciate that. I feel that not prosecuting them for negligence in safety measures is forgiving enough, but I am still having a hard time with their receiving a bonus. But it is the corporate money to do with what they want, not mine. I have the choice to not buy their products if I do not support their practices. Thank you for putting a different spin on the situation.
Newman received over 350k himself. Where’s the rest of the blood money?
http://www.chron.com/disp/story.mpl/business/energy/7508590.html
Executives donating bonuses to families of those that died on the Deepwater Horizon.
Point is moot now.