owners of exploding rig get bonuses for safety?

[IPorange]

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

Is this an April Fools joke?

 

[wounded mullet]

The Michael Bay bonus clause.

 

[VOLatile]

Saw that this morning. It's ridiculous. Welcome to corporate America, where the rich get richer for absolutely no freaking reason.

 

[n_huffhines]

"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."

 

[VOLatile]

"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."

They must not have had a very good track record in previous years or they just decide not to count the Gulf incident at all. Either way, the effects of the catastrophe are still prevalent and they're not doing anything about it but giving themselves bonuses.

 

[milohimself]

The Michael Bay bonus clause.

lulz

 

[IPorange]

"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."

I wonder if operations being suspended for months due to a catastrophic accident had anything to do with less overall safety incidents.

Nah.

On a totally unrelated note, I hear the fukushima plant has had record low late days among employees.
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[joevol320]

Saw that this morning. It's ridiculous. Welcome to corporate America, where the rich get richer for absolutely no freaking reason.

you have no clue what your talking about dude. Feds get 10x the perks for being incompetent? you've never worked on these rigs.

Milohimself is this sufficient to post?

 

[VolsNSkinsFan]

Why does anyone care? Its not your money. Unless you are a shareholder

Transocean wasnt at fault for the blast/spill

 

[tri_vol]

Didn't read the article or know the full details but on the surface it sounds like this - if you don't count the one night in vegas when I got wasted and spent ten grand at the bunny ranch, I've been extremely faithful to my girl this year. I think I deserve a cookie.
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[VOLatile]

Didn't read the article or know the full details but on the surface it sounds like this - if you don't count the one night in vegas when I got wasted and spent ten grand at the bunny ranch, I've been extremely faithful to my girl this year. I think I deserve a cookie.
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Pretty much sums it up.

 

[VOLatile]

you have no clue what your talking about dude. Feds get 10x the perks for being incompetent? you've never worked on these rigs.

Milohimself is this sufficient to post?

The executives are working on the rigs? Weird. They're the ones getting the bonuses, not the families of the men killed on the rig or the workers that work on the rigs.

 

[volinbham]

The executives are working on the rigs? Weird. They're the ones getting the bonuses, not the families of the men killed on the rig or the workers that work on the rigs.

To be fair, the article doesn't say if the workers received any bonus or not. If safety is a strategic mission in the company, I would bet that there is some incentive structure.

Overseasorange may be able to speak to this.

 

[VolsNSkinsFan]

The executives are working on the rigs? Weird. They're the ones getting the bonuses, not the families of the men killed on the rig or the workers that work on the rigs.

the workers on the rigs get paid very, very good money. Those that died, the families will be taken care of once everything is sorted out. Similar to a plane crash, we need to find out who is at fault 1st

 

[n_huffhines]

you have no clue what your talking about dude. Feds get 10x the perks for being incompetent? you've never worked on these rigs.

Kind of like every time the FDA ****s up they get more funding. The FDA kills and kills and they get more and more funding. I'm gonna start a thread.

 

[IPorange]

Kind of like every time the FDA ****s up they get more funding. The FDA kills and kills and they get more and more funding. I'm gonna start a thread.

What, you think I'm pro-government employee bonuses when they screw up? Link?

 

[IPorange]

To be fair, the article doesn't say if the workers received any bonus or not. If safety is a strategic mission in the company, I would bet that there is some incentive structure.

Overseasorange may be able to speak to this.

I just hope they've fully paid for all the damages to the Gulf region and the people dependent on that natural resource.

 

[n_huffhines]

What, you think I'm pro-government employee bonuses when they screw up? Link?

No I wasn't insinuating that. Just making a point.

Evey time the TSA or FDA or whatever makes headlines over a blunder they usually blame it on lack of funding which leads to more funding. I started a new thread about the FDA.

 

[rjd970]

"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."

Sounds like they need to re-evalute their metrics.

 

[MG1968]

Sounds like they need to re-evalute their metrics.

if only we had single-payer big oil, when you remove the interests of capital from the game, the obvious efficiencies of government control are as convivial as the 800lb real world gorilla outside your back door.

 

[volinbham]

I just hope they've fully paid for all the damages to the Gulf region and the people dependent on that natural resource.

I agree. If it were my company, I'd take that bonus money (or at least a sizable chunk) and put it in some charity that will help the Gulf region even if I had paid in full.

 

[VOLatile]

I agree. If it were my company, I'd take that bonus money (or at least a sizable chunk) and put it in some charity that will help the Gulf region even if I had paid in full.

I'm willing to bet that, no matter who was at fault, the region won't be compensated fully for the damage done. Will we ever know who was at fault? No one will accept blame. How much is full compensation? How can you even calculate the damage done to the region?
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[tigervol9802]

I agree. If it were my company, I'd take that bonus money (or at least a sizable chunk) and put it in some charity that will help the Gulf region even if I had paid in full.

Agreed. If nothing else it would at least be a nice PR move.

 

[milohimself]

A good gesture... I could only hope that everybody in that position would be of a like mindset, but I doubt it.

 

[volinbham]

Upon reconsideration I withdraw the gesture. It would be interpreted as some admission of negilence and a flood of lawsuits would arise from an attempt at good karma.