Transocean Cites Safety in Bonuses Even With The Gulf Explosion Not A April Fool Joke

Greed at it's finest... They even dated it April 2.....

http://online.wsj.com/article/SB10001424052748703806304576236661289767034.html?mod=WSJ_hp_LEFTTopStories

Transocean Ltd. had its "best year in safety performance" despite the explosion of its Deepwater Horizon rig that left 11 dead and oil gushing into the Gulf of Mexico, the world's largest offshore-rig company said in a securities filing Friday.

Accordingly, Transocean's executives received two-thirds of their target safety bonus. Safety accounts for 25% of the equation that determines the yearly cash bonuses, along with financial factors including new rig contracts.

If that was their best year I'd hate to see what their worst year was like

Federal investigators are still probing what caused the explosion of the Deepwater Horizon—which was leased by BP
PLC—and why a crucial piece of equipment failed to stop the flow of oil
into the Gulf.
Transocean has largely blamed BP, saying that as the
operator, BP had final responsibility for all decisions on the rig. BP,
in turn, has said its contractors, including Transocean, made critical
errors.Also on Friday, Transocean remained at
odds with federal regulators seeking to compel its employees to testify
next week at a hearing into the causes of the oil spill.

A year later and BP is allowed to drill in the gulf again.
BP will start in July but not be allowed to drill exploratory wells.
The company has over 20 deepwater fields in the area, according to the
newspaper.
Environmental campaigner Greenpeace responded to the report by saying
that if true, it was "a poke in the eye not only to the environment but
to investors," and a sign that despite management changes at BP little
had fundamentally changed at the oil giant since the disaster.

The problem which is not being widely reported on is that the "Emergency Plans" are still outdated they don't even cover what happened in the Gulf, also the same blow out preventor that is at question in the explosion is still the same. They are using a faulty product and the Government Regulators are letting them move forward. So much for promises that the Regulators would hold them to higher standards....