Transocean Execs Get Bonuses, Company Has "Best Year in Safety" Despite Spill, Workers Killed in Deepwater Horizon Explosion

I'm not sure I'll ever fully be able to grasp the twisted logic behind corporate culture in this country, as this recent New York Times story drives that home pretty well. The story is about how two employees from Transocean, the company that was contracted to operated BP's drilling rig last year that resulted in the explosion and spill, decided they didn't want to show up for a federal investigation. Oh and the company says, sorry, we can't make them.

So, that's preposterous and unacceptable. Except the story gets worse. It turns out that, despite the deaths of 11 workers and the 5 million gallons of oil that were spilled, top execs at the company were still given bonuses. Granted, they were docked a bit -- 45 percent the Times reports, because the "accident in the gulf and failure to meet some financial targets, reduced the bonuses." But Mother Jones reports, the company still shelled out nearly 1 million bucks in bonuses for their top 5 execs.

The fact that they should receive any kind of bonus, is crazy, but again, it gets worse:

In a securities filing, Transocean said that despite the gulf tragedy, by its internal statistical measures, "we recorded the best year in safety performance in our company's history." Consequently, executives received most of the safety-related portion of their bonuses for the year.

So killing 11 people, endangering an ecosystem and trashing the livelihoods and health of Gulf residents, goes down in their books as their best record in safety? Seriously?! Are they trying to make GE look good?


AlterNet / By Tara Lohan

Posted at April 4, 2011, 11:29am