10 Sleazy Moves by Everyday Companies
BP (BP) would certainly deserve scorn for the Deepwater Horizon oil rig explosion that dumped 200 million gallons of oil into the Gulf of Mexico.
There were the ecological horrors and economic ruin that resulted from its cost-cutting, OSHA-enraging ways. We could even dwell on former CEO Tony Hayward's wish that all those pesky problems would just go away so that he could "get his life back" and kick back racing yachts.
Instead, we'll single out Transocean (RIG), BP's partner in crime for the rig.Here's why: Jason Anderson, Aaron Dale Burkeen, Donald Clark, Stephen Ray Curtis, Gordon Jones, Roy Wyatt Kemp, Karl Kleppinger, Keith Blair Manuel, Dewey Revette, Shane Roshto and Adam Weise. Those are the 11 men who lost their lives in that explosion. Was it sobering to Transocean executives to put a human face to the disaster? Not so much. The company has doled out healthy bonuses to top staff, crediting them for "significantly improving the company's safety record" and the "best year in safety performance in our company's history." We'd hate to think about "the worst" year they had. To their credit, perhaps guilted into it by media coverage, several of the recipients donated their bonuses to charity. Still, it was a jaw-dropping act of insensitivity by Transocean. You'd never see a financial institution reward its leadership for presiding over a disaster ... oh, never mind. Scratch that.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV