Maybe they need another Tax-Cut

[ChasC5]

Man am I sure glad they survived this tragedy

Despite Gulf oil spill, rig owner executives get big bonuses

Declaring 2010 "the best year in safety performance in our company's history," Transocean Ltd., owner of the Gulf of Mexico oil rig that exploded, killing 11 workers, has awarded its top executives hefty bonuses and raises, according to a recent filing with the U.S. Securities and Exchange Commission.

That includes a $200,000 salary increase for Transocean president and chief executive officer Steven L. Newman, whose base salary will increase from $900,000 to $1.1 million, according to the SEC report. Newman's bonus was $374,062, the report states.

Newman also has a $5.4 million long-term compensation package the company awarded him upon his appointment as CEO in March 2010, according to the SEC filing.

The latest cash awards are based in part on the company's "performance under safety," the Transocean filing states.

"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 SEC statement reads. "As measured by these standards, we recorded the best year in safety performance in our Company's history."


Gulf Coast Oil Spill
The company called that record "a reflection on our commitment to achieving an incident-free environment, all the time, everywhere," the SEC filing states.

The company did not respond to an e-mail from CNN seeking comment.

The April 20, 2010, explosion on the Deepwater Horizon rig injured 17 workers and killed 11 others, including nine Transocean employees, according to the SEC filing. It has been called the worst spill in U.S. history.

The well was capped three months later, but not before millions of barrels of oil spilled into the Gulf.

In January, President Barack Obama's National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling released a report that spread blame for the accident among Transocean, BP -- which leased the rig -- and Halliburton, which installed the rig's cement casing.

The commission said problems with deepwater drilling are "systemic" and that only "significant reform" will prevent another disaster.

Another report released March 23 determined that the oil spill was caused by a piece of drill pipe trapped in the rig platform's blowout preventer, a device intended to stop oil from flowing into the Gulf. The report was commissioned by various U.S. agencies, including the Interior Department and the Department of Homeland Security.

The Interior Department has said a much broader report that relies on additional sources of data -- including eyewitness accounts and photographs -- will be released this summer.

The oil spill has prompted a flood of lawsuits against BP, Transocean and Halliburton from a variety of plaintiffs, including owners of Gulf shore businesses who claim they suffered heavy financial losses because of the spill.

The plaintiffs also include Transocean shareholders who contend the company falsely claimed it had remedied past safety problems with its blowout preventers, prior to the Gulf spill.

Despite Gulf oil spill, rig owner executives get big bonuses - CNN.com

[RetiredSFC 97]

It's their money and they pay all of their employees well, so I don't have a problem.

Accidents happen. BP doesn't have the best track record but they aren't the evil empire people attempt to portray them to be.

People on both sides need to start thinking for themself and quit letting the talking heads think for them.

[wicked_c6]

They manage one of the larget companies in the world - I don't disparage people getting paid for what they do. And as one of the other posters pointed out - their staff is also well compensated.

[vetteman9368]

i don't see a problem here. Only a statist or socialist would see an issue here.

[ChasC5]

Originally Posted by RetiredSFC 97

It's their money and they pay all of their employees well, so I don't have a problem.

Accidents happen. BP doesn't have the best track record but they aren't the evil empire people attempt to portray them to be.

People on both sides need to start thinking for themself and quit letting the talking heads think for them.

Every Man, Woman and Child for themselves .... right?

[Peter Pan]

Originally Posted by vetteman9368

i don't see a problem here. Only a statist or socialist would see an issue here.

Noted, lets get on and drill baby drill

[RetiredSFC 97]

Originally Posted by ChasC5

Every Man, Woman and Child for themselves .... right?

That's the way it was intended.


I do see you thew the "for the kids" in there, just for drama I suppose.

[ChasC5]

Originally Posted by RetiredSFC 97

That's the way it was intended.


I do see you thew the "for the kids" in there, just for drama I suppose.

Children don't get to choose their parents ... so the decisions we make as adults affect the children. If we're kind enough to throw the parents out on the street, how many of us would leave their children?

[Broken Wind]

Originally Posted by ChasC5

Children don't get to choose their parents ... so the decisions we make as adults affect the children. If we're kind enough to throw the parents out on the street, how many of us would leave their children?

I would. They aren't mine. I'm not responsible for them, and they are probably going to grow up to suck off the gov't teat anyway. Fuk em.

[ChasC5]

Originally Posted by Broken Wind

I would. They aren't mine. I'm not responsible for them, and they are probably going to grow up to suck off the gov't teat anyway. Fuk em.

That's fine ...

Just don't bitch about it when one has you bent over in ally with Gun to the back of your head and ordering you to squeal like a pig.

[vetteman9368]

Originally Posted by ChasC5

That's fine ...

Just don't bitch about it when one has you bent over in ally with Gun to the back of your head and ordering you to squeal like a pig.

those of us with a CCW and the wherewithal to use it are not as concerned about this scenario, or at least we are more prepared.

[ChasC5]

Originally Posted by vetteman9368

those of us with a CCW and the wherewithal to use it are not as concerned about this scenario, or at least we are more prepared.

Oh yea ... I forgot ... YeeeeeHaaaaa.

[Luetic]

what does any of this have to do with execs getting a bonus for having their best safety year ever?


fulfill requirements of contract = get paid per contract

guess this logic is beyond some people

but you're ok with execs from Freddie and Fannie getting a bone-us from Obama with tax payer bail out money right?

[ChasC5]

Originally Posted by Broken Wind

I would. They aren't mine. I'm not responsible for them, and they are probably going to grow up to suck off the gov't teat anyway. Fuk em.

BTW; this will be the single fundamental thing that will always separate me from people say the things that is said in the bold above. It doesn't make me good and it doesn't make you bad, it simply make me different in how I fundamentally think and live my life.

Bad children become bad adults and adults can be 100% involved in preventing that from happening. The day we start not giving a Fork is the day one of those children harms someone you love who isn't walking around striped at the ready.

Our inaction causes consequences ... sadly

[vetteman9368]

Originally Posted by ChasC5

BTW; this will be the single fundamental thing that will always separate me from people say the things that is said in the bold above. It doesn't make me good and it doesn't make you bad, it simply make me different in how I fundamentally think and live my life.

Bad children become bad adults and adults can be 100% involved in preventing that from happening. The day we start not giving a Fork is the day one of those children harms someone you love who isn't walking around striped at the ready.

Our inaction causes consequences ... sadly

what color stripes?

[ChasC5]

Originally Posted by Luetic

what does any of this have to do with execs getting a bonus for having their best safety year ever?


fulfill requirements of contract = get paid per contract

guess this logic is beyond some people

but you're ok with execs from Freddie and Fannie getting a bone-us from Obama with tax payer bail out money right?

No I'm not OK with ANY EXECUTIVES, not just Freddie and Fannie getting our money and giving to to people who screw-up ...

See how this works ... the Key Word was ANY! Get it?

[ChasC5]

Originally Posted by vetteman9368

what color stripes?

Any Color you like, so long as you can get the point.

Are you can pretend not to ... whatever comfort you ..

[vetteman9368]

Originally Posted by ChasC5

Any Color you like, so long as you can get the point.

Are you can pretend not to ... whatever comfort you ..

did you mean or? Your posts are so incoherent at times, that it would be difficult for most to grasp the points you claim to make.

[ChasC5]

Originally Posted by vetteman9368

did you mean or? Your posts are so incoherent at times, that it would be difficult for most to grasp the points you claim to make.

Sorry, some of have to work for a living and actually care less about a internet form over a real Job. Of course your mileage may vary.

Personally ... if you ever get a point in my life time, it would only be because you care and not me.