Caterpillar cut CEO’s 2013 compensation 32 per cent to $12 million as profit and sales fell + MORE Apr 22nd

TORONTO – Some of the most active companies traded Monday on the Toronto Stock Exchange and the TSX Venture Exchange:
Toronto Stock Exchange (14,493.68 down 6.71 points):
Osisko Mining Corp. (TSX:OSK). Miner. Down 27 cents, or 3.38 per cent, to $7.73 on 17.1 million shares.
Bombardier Inc. (TSX:BBD.B). Aerospace. Unchanged at $4.01 on 9.8 million shares.
Yamana Gold Inc. (TSX:YRI). Miner. Down 22 cents, or 2.51 per cent, to $8.54 on 6.3 million shares.
Connacher Oil and Gas Ltd. (TSX:CLL). Oil and gas. Down 0.5 of a cent, or 1.47 per cent, to 33.5 cents on 4.8 million shares.
Barrick Gold Corp. (TSX:ABX). Miner. Down 78 cents, or 3.94 per cent, to $19.03 on 4.4 million shares. Barrick Gold’s long courtship with another of North America’s largest gold producers is reportedly on the rocks despite the attractiveness of a merger fuelled by lower precious metal prices. News reports from the Wall Street Journal, Bloomberg and others said the two sides had been working towards completing a deal around the time of their respective annual meetings this month, but that the talks had his some snags…

DALLAS – Caterpillar Inc. cut the value of its CEO’s pay package by 32 per cent to $12 million in 2013, a year when the heavy machinery maker saw its profits fall by a third, according to an Associated Press analysis.
Chairman and CEO Douglas Oberhelman got a small raise in salary last year, but the more important parts of his compensation — cash incentives and stock options — fell.
The AP analysis of Oberhelman’s compensation considered salary, bonus, perks and the estimated value of stock and option grants that the company reported Monday to the U.S. Securities and Exchange Commission. The calculation excluded changes in the present value of the CEO’s pension benefits, which makes the total differ from the one that Caterpillar reported in a summary table of Monday’s filing.
Oberhelman’s salary rose 2 per cent to $1.6 million. However, his cash incentive payment fell by more than half, to $2.24 million from $5.05 million in 2012 based partly on the company’s 2013 performance and partly on 2011-2013 numbers…

WASHINGTON – Some student loan borrowers who had a parent or grandparent co-sign the note are finding that they must immediately pay the loan in full if the relative dies.
The Consumer Financial Protect Board says lenders have clauses in their contract that explain this could happen, but many borrowers are not aware of them.
The agency’s ombudsman, Rohit Chopra, said complaints related to this issue are growing more common because the practice is catching so many consumers by surprise. Some borrowers told to pay back the loan in full have been making timely payments, Chopra said.
While it’s unclear how prevalent it is; Chopra said it appears to be the practice among many private student loan lenders. It has affected borrowers not just when the co-signer has died, but when the co-signer has declared bankruptcy.
“We do have some concerns that with an aging population and with very long terms on certain private student loans, that this could actually increase over time,” Chopra said…

The expected announcement by Barclays is part of an overhaul of its investment bank aimed at slashing costs and boosting recent lacklustre profits

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