TV News LIES

Wednesday, Aug 20th

Last update09:11:45 PM GMT

You are here News Energy Transocean gives safety bonuses despite Gulf deaths

Transocean gives safety bonuses despite Gulf deaths

E-mail Print PDF
Transocean gives safety bonuses despite deaths Transocean Ltd. gave its top executives bonuses for achieving the “best year in safety performance in our company’s history” — despite the explosion of its oil rig that killed 11 people and spilled 200 million gallons of oil into the Gulf of Mexico.

The company said in a regulatory filing that its most senior managers were given two thirds of their total possible safety bonus.

Transocean noted “the tragic loss of life” in the Gulf when the rig operated by BP PLC exploded last April. But it said the company still had an “exemplary” safety record because it met or exceeded certain internal safety targets concerning the frequency and severity of its accidents, according to the filing with the Securities and Exchange Commission on Friday.

Safety accounts for a quarter of the executives’ total cash bonuses. The total bonus for CEO Steve Newman last year was $374,062.

According to calculations by The Associated Press, the total value the company assigned to Newman’s compensation package was $5.8 million.

That figure includes an $850,000 base salary — a 34 percent increase from the prior year; perquisites of $622,057, which includes housing and vacation allowances, among other things; and the $374,062 bonus. Also included in the figure are stock options valued at $1.9 million and deferred shares valued at $2 million when those awards were granted in March 2010.

More...


Most Recent Related Stories...


U.S. opens Gulf acreage to energy companies

new energy leases in GulfMore than 20 million acres off the coast of Texas were opened up for bidding for...

Iran vows to defend Iraq Shi'ite sites; insurgents battle for refinery

Iran to protect sitesSunni rebels battled their way into the biggest oil refinery in Iraq on Wednesday, and the...

Why birds are igniting in midair over Calif.

Birds igniting mid airA cutting-edge solar technology in California's Mojave Desert may have a bit too much cut. Wildlife...

BP allowed commercial drones by US regulators in unprecedented decision

FAA allows BP use of drones over landThe Federal Aviation Administration said Tuesday it has granted the first permission for commercial drone flights...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!