Transocean Gives Bonuses for 'Safety Performance'

Transocean Gives Bonuses for 'Safety Performance':

Remember Transocean Ltd., the company that owned the BP-operated Deepwater Horizon oil rig that exploded in a hellish ball of fire, killing 11 workers and setting off the massive Gulf oil spill last year? In documents filed with the SEC on Friday, the company announced it was handing out bonuses to senior executives for overseeing the "best year in safety performance in our company's history." Perhaps that's because, as Transocean CEO Steve Newman wrote in a statement, "Of the 126-member crew [on the Deepwater Horizon], 115 were safely evacuated." He also points out that only 9 of the 11 dead were Transocean employees.

Newman got $374,062 in bonuses and, according to the AP, his total compensation for last year was $5.8 million. Classy.