CEO Of Company Responsible For Porter Ranch Gas Leak To Get $3 Million Bonus

[villager]

Source: LAist


<snip>

Despite being in charge of the company responsible for the largest environmental disaster in California's recent history—the infamous Porter Ranch Gas Leak—the CEO of Sempra Energy, the parent company of SoCalGas, will receive a $3.17 million bonus this year. Added to her usual salary, Debra L. Reed will net a total of $16.1 million in pay for the 2015 year, according to the company's proxy statement (search "bonuses paid&quot .

Don't worry, though—California is making sure Ms. Reed will pay for the disaster. A penalty levied by the State will set her back a whopping $130,000, according to the Los Angeles Times. But as the Times so succinctly points out, this penalty amounts to just eight tenths of 1 percent of her total pay.

Along with Reed, Sempra Energy's president, executive vice president, chief financial officer, and general counsel are all also getting bonuses, amounting to about $3.9 million combined. Their combined penalty is just $157,000.

As Paula Cracium, president of the Porter Ranch Neighborhood Council said to the Times, "This sends out a signal that as long as the dollars are there, the impact on people, homes and the environment doesn't matter. That's not the signal we need to send to executives who have so much power."

<snip>



Read more: http://laist.com/2016/03/29/ceo_of_company_responsible_for_port.php

[Angry Dragon]

1. but they are so much smarter than the average person

that is why they are paid so much
according to the repubs I talk to

[DavidDvorkin]

8. More cunning, certainly.

[RecoveringJournalist]

10. Not necessarily

They are just paid to be cunning. EOM

[Pakhet]

15. Oh! And i have on it good authority

that they work so much harder than the rest of us too. (Where's the bitter sarcasm smilie?)

[KT2000]

2. that's why I support Bernie

at least he will talk about such betrayals.
She should turn all of it over to the people affected.

[stellanoir]

3. Just like Halliburton paying ~

a few hundred thousand dollar fine for their faulty blow out value that damned near exterminated the Gulf of Mexico.

May the profiteers of exploitation no longer gain from further such toxic folly !!!

Ughhh ~

Maybe the 99% of everybody could sue the whole slew of eco slobs on behalf of Gaia.

We are probably all obliged to do so.

[AtheistCrusader]

4. It's like the rich live on a totally different planet.

The rules of physics don't even apply to them.

Must be nice.

[sulphurdunn]

5. Just in case you weren't sure

who runs things, this sort of behavior makes it hard not to get the message loud and clear.

[chapdrum]

6. The system wins, again.

Megacorporations first.

ALL else to the back of the line.

Health, schmealth; sick folk spend big, baby.

So f*cking criminal, venal and sordid.

[Octafish]

7. He surely must have suffered so.

Really, there's nothing like a $3 million bonus to cheer up one's spirits on a cloudy day. Like Sempra Energy, it's the least they can do.

[intrepidity]

9. She

not "he".

So much for the gender thing.

[Octafish]

13. Thank you.

In addition to failing to read thoroughly, I automatically "assumed" the CEO was male, based on my own construct stereotypes for behavior. From now on, I will remember women can be crooked and head crooked organizations, too.

ETA: Even though it reads that way, it is not meant to sound snarky. I do not know if the CEO in the present case was criminally negligent or otherwise. Accidents do happen. It's just in the energy and extraction industries, so does crime.

[LiberalFighter]

11. Need to go after the stockholders and officers.

[passiveporcupine]

12. As long as oligarchs are in charge, this will never end.

This is disgraceful!

[valerief]

14. Cuz freedom.

[Vinca]

16. Obscene.

It reminds me of the Wall Street crash when the banksters got their big bonuses . . . thanks to the largesse of the taxpayers.

[ProfessorGAC]

17. And, If You'll Recall. . .

. . .the excuse for that was to retain high level talent. The same high level talent that caused the problem in the first place got bonuses to stick around and recover from their own failures. I don't think these folks really know what "bonus" means.

[villager]

18. ...or "talent" for that matter.

Or "empathy," of course, but that went without saying.