
“Transocean President and Chief Executive Officer Steven L. Newman received about $4.3 million in cash bonuses and stock and option awards" raising his 2010 total compensation to $6.6 million.
"In justifying the bonuses, Transocean cites the increased burden on executives of responding to the spill"
"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,[emphasis added]" Transocean states in the 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.”
I believe this may be a case of damned statistics.
Meanwhile, back in the Gulf:
In a deal with U.S. regulators, BP this summer plans to restart deepwater drilling in the Gulf of Mexico on 10 wells in exchange for tougher safety rules, British media reported Sunday.
via blogs.forbes.com and www.msnbc.msn.com