Transocean executives donate bonuses after oil spill

Senior executives of the firm that owned the troubled Deepwater Horizon rig that exploded last year, triggering a spill, are donating their bonuses to the families of 11 workers killed in the disaster. The move came after Swiss-based Transocean Ltd faced heavy criticism for claiming 2010 was the company's "best year for safety, despite the deadly oil April 2010 platform explosion and massive leak in the Gulf of Mexico.
More than 205 million gallons of oil gushed into Gulf waters in the wake of the massive disaster, fouling US shorelines, scaring off tourists and closing rich shrimp and fishing grounds. Five executives, including Newman, will donate over $250,000 to the Deepwater Horizon Memorial Fund established by Transocean. The fund has so far distributed more than $1.6 million to the relatives of the victims.