Transocean awards bonuses ‘for safety’ in 2010

[WestVirginiaRebel]

Financial Times:

Transocean, the world’s largest offshore rig company, awarded its executives bonuses for 2010, citing “the best year in safety performance in our company’s history,” in spite of the Macondo disaster in the Gulf of Mexico, according to a regulatory filing.

“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,” Transocean said in a filing.

“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.”

The Macondo disaster, which involved the explosion, burning and sinking of Transocean’s Deepwater Horizon rig, killed 11 people (nine of them Transocean employees) and injured 17 before leaking oil into the gulf for three months in the industry’s highest-profile accident since the 1989 ExxonMobil Valdez spill in Alaska.

Transocean has blamed BP, as operator, for decisions that led to the accident, while BP has said its contractors bear some responsibility.

The Swiss-based company agreed to compensate executives in a decision especially notable after bonuses were withheld in 2009 to underscore the importance of safety following four deaths.

Transocean said it sets the compensation of its executive officers based on their ability to achieve annual operational objectives that further the company’s long-term business objectives and create sustainable long-term shareholder value.
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Define "Irony..."

[Pepper]

I don't know if it's irony or chutzpah, WestVirginiaRebel!

 

 

 

 

That aside, how did you enjoy the play, Mrs. Lincoln?