Transocean, the owner of the drilling rig that exploded and sank in the Gulf of Mexico a year ago, killing 11 workers and sending two hundred (200) million gallons of oil cascading over the shoreline of six American states, has announced that (through using some kind of arcane statistical method) it had "recorded the best year in safety performance in our Company's history." Accordingly, the company awarded obscene bonuses on top of ludicrously inflated salaries to its top executives.
If this is the 'best' year in terms of safety performance, I'd hate to know what their worst year was. Did they have the contracts to operate Chernobyl and Bhopal back in the 80's?
In Japan, even as it struggles to contain one of history's worst nuclear disasters, Tokyo Electric Power Co. (TEPCO) has proposed building two new nuclear reactors at its radiation-spewing power plant. The plan had taken shape before the March 11 earthquake and tsunami and TEPCO officials see no reason to change it. The Japanese government agency in charge of approving such a project has reacted in shocked horror. "It was just unbelievable," said the director of the agency. 11
Which leads us to A.W. Clausen, president of Bank of America, speaking to the Greater Los Angeles Chamber of Commerce, in 1970:
"It may sound heretical to some in this room to say that business enterprise is not an absolute necessity to human culture ... Ancient Egypt functioned more than 3000 years without anything resembling what we today understand by the term 'corporate enterprise' or even 'money'. Within our span of years, we have witnessed the rise of the Soviet Socialist empire. It survives without anything you or I would call a private corporation and little that approaches our own monetary mechanism. It survives and is far stronger than anyone might have expected from watching its turbulent beginnings in 1917 ... It is easy to mislead ourselves into thinking that there is something preordained about our profit-motivated, free-market, private-enterprise system — that is, as they used to say of gold, universal and immutable."