Transocean Ltd Strategy Time Money-Saving Decisions

Transocean Ltd our world’s largest off-shore oil rig company continues to astonish continues to share market make a mark after stain marking Gulf of Mexico inking in over 200 million gallons of oil by rush exploding their rig Deep Water Horizon now rubbing salt callously cruelly into pristine polluted raw wounds vile nature destroying company awarded managers healthy bonuses bonuses for major component safety to honour their environmental strategy a series of time money-saving decisions deliberately aimed at creating what President Barack Obama’s investigation commission termed “an unacceptable amount of risk.” Secret Transocean policy is revealed executive compensation bonuses motivating executives “to keep up the good work” of cutting more dangerous safety corners to correct what went wrong in management of Deep Water Horizon rig takes profit profit profit time wasting big money money money bonuses give all the wrong incentives to do the wrong thing when principled leadership is lacking and environmental damage fines are small change ignored. ‘The Wall Street Journal’ reports company’s “management reckons 2010 as its “best year in safety performance” in spite of the accident” because cutting safety corners made extra money money money. Transocean identified their magic bean profit formula with celebratory words “we achieved an exemplary statistical safety record.' Based on the total rate of incidents and their severity' we recorded the best year in [our] safety performance in our company's history.' in dollar profit terms trashing Gulf of Mexico was a good profit write off investment Copyright © Terence George Craddock Source of data ‘The Worden Report’ article ‘Transocean Executive Compensation Bonuses for 'Best Safety Year in 2010' in spite of the Deep Water Horizon Explosion’ posted by Dr. Worden.