Well, that didn't take long. On Friday, Transocean released its annual report, in which it proclaimed 2010 its best year ever for safety--even with the Deepwater Horizon tragedy. Earlier today, Transocean admitted what should have been obvious--that statement didn't belong there.
"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."
Apparently this turnabout didn't come without some prodding--William Reilly, co-chairman of the commission investigating Oilmageddon, said this morning that the bonuses were proof that Transocean just doesn't get it. And until Transocean's brass gives back the bonuses they got, they still won't get it.
For those who don't know, Transocean's top execs got two-thirds of their safety bonuses for 2010. Company president Steven Newman, for instance, got a $374,000 bonus as part of a total compensation package of $5.8 million. The obvious question--if Transocean now realizes "best year ever" shouldn't have been there, why hasn't Newman shown some leadership and given back that bonus?
To my mind, this situation is almost up there with Tony Heyward whining about wanting his life back.