Kill 11+ Flood Gulf with Crude = Safety Bonus!

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.
Transocean's Deepwater Horizon oil rig explosion on April 20 in the Gulf of Mexico killed 11 workers and set off the largest offshore oil spill in U.S. history.

Partially offsetting these charges was a $267 million after-tax gain resulting from insurance recoveries associated with the loss of the Deepwater Horizon.

Full-year 2010 results also included additional expenses associated with the Macondo well incident of $137 million, or $116 million after tax,

(CNN) -- The owner of the Gulf of Mexico oil rig that exploded last year, killing 11 workers and leading to what has been called the worst oil spill ever, said Monday that calling 2010 its "best year" in safety "may have been insensitive."
Transocean Ltd., in a recent filing with the U.S. Securities and Exchange Commission, said hefty bonuses and raises to top executives were based in part on the company's "performance under safety" last year.
"We acknowledge that some of the wording in our 2010 proxy statement may have been insensitive in light of the incident that claimed the lives of eleven exceptional men last year and we deeply regret any pain that it may have caused," Transocean said in a statement to CNN. "Nothing in the proxy was intended to minimize this tragedy or diminish the impact it has had on those who lost loved ones. Everyone at Transocean continues to mourn the loss of these friends and colleagues."

CNN) -- Top executives of the company that owned the Deepwater Horizon oil rig announced Tuesday they will donate their safety bonuses to the families of the 11 workers killed in the April 2010 explosion in the Gulf of Mexico.
The announcement follows criticism of a Transocean Ltd. financial filing that claimed 2010 was its "best year" in safety.
"The executive team made this decision because we believe it is the right thing to do," Chief Executive Officer Steven Newman said in a statement Tuesday. "Nothing is more important to Transocean than our people, and it was never our intent to diminish the effect the Macondo tragedy has had on those who lost loved ones," he said. "We offer our most sincere apologies and we regret the impact this matter has had on the entire Transocean family."
The five executives will donate more than $250,000 to the Deepwater Horizon Memorial Fund, which Transocean established. The fund has distributed more than $1.6 million to the 11 families.

The total bonus for CEO Steve Newman last year was $374,062.

The five executives will donate more than $250,000 to the Deepwater Horizon Memorial Fund

Greedy Greedy fuckers.