Five days after appearing before Congress to testify about its responsibility in one of the worst oil spills in US history, the Swiss company that owned and operated the oil rig that sunk into the Gulf of Mexico announced that it would shell out $1 billion in dividends to shareholders.
The revelation that Transocean is distributing a $1 billion profit to shareholders as one of its drill sites leaks millions of gallons of oil into the sea is sure to inflame an already smarting debate over offshore drilling and the company's role.
Complete abdication of corporate responsibility, gross negligence resulting in systemic catastrophe, large sums of cash paid in spite of the foregoing...ah yes, Wall Street:
One year after the finance industry received its massive government bailout, Wall Street firms paid out 17 percent more in bonuses, amounting to more than $20 billion, New York State’s comptroller said on Tuesday, according to The Associated Press and Reuters.It is almost as if there is a direct relationship in these industries between shitty performance and outsized compensation.
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