Transocean execs to donate bonuses

[kpete]

Source: Politico

Senior Transocean officials announced Tuesday that they will donate their much-lambasted safety bonuses to a memorial fund for the victims of last year’s Gulf of Mexico oil spill.

In a potential saving-grace move for the company, Transocean CEO Steven Newman and other senior officials are giving away more than $250,000 in bonuses granted for the company’s safety performance in 2010 despite being the operator of the Deepwater Horizon rig, which exploded April 20, killing 11 workers.


“The executive team made this decision because we believe it is the right thing to do,” Newman said in a statement. “Nothing is more important to Transocean than our people, and it was never our intent to diminish the effect the Macondo tragedy has had on those who lost loved ones.”

He added, “We offer our most sincere apologies and we regret the impact this matter has had on the entire Transocean family.”





Read more: http://www.politico.com/news/stories/0411/52621.html#ixzz1IhLm88gi

[rucky]

1. uh-huh. I wanna see their bank statements.

[dixiegrrrrl]

2. Good to hear they HEARD the bad publicity they got.

It may be all about PR, but they are responding to the message.

[notadmblnd]

3. Too bad they wern't better humans- they had to be shamed into doing it.

[TheEuclideanOne]

4. So...what is that..... 10%?

I guess that means that they are good people. When do we start looking at companies that have policies where the math can justify that after causing the worst environmental disaster in history, it equals a good year? What does a bad year look like to them?

[riderinthestorm]

5. $250k divided by 11 families equals...$23k/family....

yeah, that will go far. I'm damn sure those execs are bringing home hundreds of thousands of dollars MORE for their families in secret bonus dollars that aren't being disclosed at all.

Disgusting.

[HankyDubs]

6. I'm sure they would have donated the $$$

even if they hadn't been caught.

...Because I was born yesterday.

[a simple pattern]

7. Hey nice

What about all the other people they killed, or are in the process of killing?
What's the replacement value of the Gulf of Mexico?

Honestly, I could give a shit about 11 dead oil rig workers. They signed on for that. We didn't, and neither did the shrimp or the dolphins or our grandchildren.

[ret5hd]

16. Well, really you did sign on for that...

every time you drive rather than take a bus or bicycle, or not pay a few pennies more for wind power over coal/gas/nuclear power.

And i did too, so i'm not pointing fingers. We can't reap the benefits of something then hold ourselves blameless when things go wrong.

The shrimp and dolphin though are blameless.

[Thav]

8. And they net a nice tax deduction to boot!

They're still getting the bonuses, that's the wrong thing to do.

[Viva_La_Revolution]

9. Transocean executives donate safety bonuses to rig victims' families

Source: cnn

(CNN) -- Top executives of the company that owned the Deepwater Horizon oil rig announced Tuesday they will donate their safety bonuses to the families of the 11 workers killed in the April 2010 explosion in the Gulf of Mexico.

The announcement follows criticism of a Transocean Ltd. financial filing that claimed 2010 was its "best year" in safety.

"The executive team made this decision because we believe it is the right thing to do," Chief Executive Officer Steven Newman said in a statement Tuesday. "Nothing is more important to Transocean than our people, and it was never our intent to diminish the effect the Macondo tragedy has had on those who lost loved ones," he said. "We offer our most sincere apologies and we regret the impact this matter has had on the entire Transocean family."

Read more: http://edition.cnn.com/2011/US/04/05/gulf.spill.bonuses/index.html

[riderinthestorm]

10. It;s only $250k of their bonus'. Less than $23k per family. Despicable token amount. nt

[babylonsister]

11. They were embarrassed into this, but I'm glad the families will be

getting some money from the egg on their collective faces.

[DCKit]

12. Unless it all disappears in the allocation.

Who is administrating the fund? Children, colleagues and peons of same executives, I'll wager.

[lunasun]

14. my thinking too....scam pr

[OwnedByFerrets]

13. They GOT safety bonus's????????? For WHAT?

[customerserviceguy]

15. My question is

who determined these bonuses in the first damned place? If the decision fell to those who were shamed into relinquishing them, then they get no forgiveness from me. I would imagine that it's possible that some execs were awarded bonuses they did not deserve without knowing that it would happen. If they were the ones who persuaded the others to give them all up, then I can see my way clear to laud them for their actions.

[nalnn]

17. WOW

How generous of them.



:sarcasm:

[Hannah Bell]

18. if the company gives the money in bonuses, doesn't that mean a tax break for the company?

i mean, instead of it being profit its an expense?