Transocean CEO Gets 22% Raise and $374K Bonus

[93henfan]

Nice reward for a major oil spill. You're doing a heckuva job Brownie.

http://www.cnn.com/2011/BUSINESS/04/03/ ... tml?hpt=T2

Declaring 2010 "the best year in safety performance in our company's history," Transocean Ltd., owner of the Gulf of Mexico oil rig that exploded, killing 11 workers, has awarded its top executives hefty bonuses and raises, according to a recent filing with the U.S. Securities and Exchange Commission.
That includes a $200,000 salary increase for Transocean president and chief executive officer Steven L. Newman, whose base salary will increase from $900,000 to $1.1 million, according to the SEC report. Newman's bonus was $374,062, the report states...

Do these people have no shame?

[kalm]

Nice reward for a major oil spill. You're doing a heckuva job Brownie.

http://www.cnn.com/2011/BUSINESS/04/03/ ... tml?hpt=T2

Declaring 2010 "the best year in safety performance in our company's history," Transocean Ltd., owner of the Gulf of Mexico oil rig that exploded, killing 11 workers, has awarded its top executives hefty bonuses and raises, according to a recent filing with the U.S. Securities and Exchange Commission.
That includes a $200,000 salary increase for Transocean president and chief executive officer Steven L. Newman, whose base salary will increase from $900,000 to $1.1 million, according to the SEC report. Newman's bonus was $374,062, the report states...

Do these people have no shame?

This is about freedom. Markets are always correct and will reward the producers accordingly.

[andy7171]

So was it the safest year in the company's history? If so, well deserved.

[houndawg]

Nice reward for a major oil spill. You're doing a heckuva job Brownie.

http://www.cnn.com/2011/BUSINESS/04/03/ ... tml?hpt=T2

Declaring 2010 "the best year in safety performance in our company's history," Transocean Ltd., owner of the Gulf of Mexico oil rig that exploded, killing 11 workers, has awarded its top executives hefty bonuses and raises, according to a recent filing with the U.S. Securities and Exchange Commission.
That includes a $200,000 salary increase for Transocean president and chief executive officer Steven L. Newman, whose base salary will increase from $900,000 to $1.1 million, according to the SEC report. Newman's bonus was $374,062, the report states...

Do these people have no shame?

It was so much better back in the day when the Red Brigades would shoot scum this in the knees. Oh.... for the good old days.....

[93henfan]

So was it the safest year in the company's history? If so, well deserved.

Only eleven people killed in 2010. If that was their safest year, I don't think I'd want to be there on their shitty years.

[Grizalltheway]

Hey now, anyone could have done the jobs the 11 people killed did. This guy is clearly special and deserves every penny.

[blueballs]

Hey now, anyone could have done the jobs the 11 people killed did. This guy is clearly special and deserves every penny.

If the board of directors of the corporation deems him so then yes, he is special and deserves every penny.

The headline of the attached article, even the language in the link, demonstrates media bias at it's best, playing on wealth envy while blaming the CEO of a corporation for a tragic accident while attacking his compensation without regard to his true duties in his job position which are maximizing corporate profit and shareholder value.

Nowhere in the article did it state the earnings per share, the relative financial strength of the corporation, the year over year comparison of the financial data, or even how the corporation responded to the accident in the gulf which is the biggest thing the corporation could control about the tragedy. Nope... this article was only meant to fan the fires of wealth envy, and some of our friends here swallowed the hook on this one.

Instead of asking if the BOD and CEO have no shame, shouldn't we ask that of CNN for the presentation of the information????????

[AZGrizFan]

Hey now, anyone could have done the jobs the 11 people killed did. This guy is clearly special and deserves every penny.

If the board of directors of the corporation deems him so then yes, he is special and deserves every penny.

The headline of the attached article, even the language in the link, demonstrates media bias at it's best, playing on wealth envy while blaming the CEO of a corporation for a tragic accident while attacking his compensation without regard to his true duties in his job position which are maximizing corporate profit and shareholder value.

Nowhere in the article did it state the earnings per share, the relative financial strength of the corporation, the year over year comparison of the financial data, or even how the corporation responded to the accident in the gulf which is the biggest thing the corporation could control about the tragedy. Nope... this article was only meant to fan the fires of wealth envy, and some of our friends here swallowed the hook on this one.

Instead of asking if the BOD and CEO have no shame, shouldn't we ask that of CNN for the presentation of the information????????

You really are a wet blanket on the "wealth envy" party, Bluballs.