Newmont Mining chairman and chief executive Wayne Murdy received total compensation in 2006 of $12.6 million, the company disclosed Monday in a regulatory filing.
The biggest component of Murdy’s compensation was a one-time increase of $6.5 million in the value of his pension. Murdy’s employment contract called for the pension increase if he stayed with Newmont through the age of 62, which he attained last year.
“It was a one-time retention incentive,” Newmont spokesman Omar Jabara said.
Murdy also earned $1 million in salary, $1.8 million in stock options awards, $1 million in stock incentive bonuses, $616,400 in corporate performance bonuses, $363,000 in personal performance bonuses and other compensation.
Pierre Lassonde, who resigned last year as Newmont’s president, received $4.6 million in total compensation.
Thomas Enos, executive vice president of operations, received $4.2 million.
DENVER
Wind-farm funding on governor’s desk
Legislation designed to help build new electric transmission lines for future wind farms in Colorado passed the legislature and now awaits Gov. Bill Ritter’s signature.
Senate Bill 100 allows the state’s two investor-owned utilities – Xcel Energy and Aquila – to pass the costs of new transmission lines to their customers while the lines are being built, instead of after they are finished.
While customers could see new charges on their monthly bills under the proposal, utility officials say consumers would benefit over the long term because power companies would not have to take out construction loans and bill their customers for interest payments.
DENVER
KRG acquires firms in Ohio, Alabama
KRG Capital Partners, a Denver-based private equity firm, on Monday acquired and merged two companies, Frank Gates Cos. and Attenta.
Frank Gates, based in Columbus, Ohio, provides risk-management consulting and software, among other services. Attenta, based in Birmingham, Ala., provides auditing, underwriting and risk-management services. KRG will have a controlling interest in the new company.
BROOMFIELD
Level 3 laid off 797 in ’06 after acquisitions
Broomfield-based Level 3 Communications said in a regulatory filing it laid off 797 employees in 2006 as part of its integration of recent acquisitions.
Specifically, the company laid off 248 Level 3 workers and 549 workers from businesses that it acquired, according to the annual report, which was filed with regulators last week.
The report didn’t specify the effect on its Colorado workforce.
DENVER
Vicorp CEO quits; replacement chosen
Denver-based Vicorp Restaurants Inc. said Monday that chief executive Debra Koenig has resigned for an undisclosed reason.
The company, which operates Village Inn and Baker’s Square restaurants, made the disclosure in a filing with the Securities and Exchange Commission.
The company has hired Kenneth Keymer, who will take over April 2. Keymer was previously president and CEO of AFC Enterprises, the parent company of Popeyes Chicken and Biscuits.
DENVER
Qwest CFO makes $8.1 million on shares
Qwest chief financial officer Oren Shaffer, who announced last week that he is retiring April 1, has exercised 1 million stock options and sold another 368,000 shares for a pretax profit of about $8.1 million, according to a regulatory filing. The strike price on the options was $3.89 a share, which he sold for prices ranging from $8.72 to $8.75.
BOULDER
Carrier Access Corp. completes acquisition
Carrier Access Corp. announced Monday that it has completed the acquisition of Mangrove Systems Inc. of Wallingford, Conn., in a cash transaction valued at $8 million.
Carrier Access has also hired 30 former employees of Mangrove to sell, support and continue research and development of the newly acquired Mangrove products.
DENVER
Health care panel seeking proposals
The Colorado Blue Ribbon Commission on Health Care Reform on Monday asked the public to submit proposals on how to improve and expand health care coverage.
The state-mandated commission set April 6 as the deadline for proposals. Information can be found online at www.colorado.gov/208commission. The commission was formed through the passage last year of Senate Bill 208 and is expected to issue its report next fall.
DALLAS
Pizza Patrón taking pesos permanently
A pizza chain that attracted national attention and some hate mail for its decision to temporarily accept Mexican currency said Monday it is making the pesos policy permanent.
Dallas-based Pizza Patrón announced in December that it would accept pesos as well as U.S. currency at its 60 locations across the U.S., including three in Denver.
DENVER
Top U.S. Suncor exec headed to Canada
Suncor Energy’s top executive in the United States, Denver-based Mike Ashar, has been appointed executive vice president of strategic growth and energy trading and will relocate to Suncor’s headquarters in Calgary, Alberta.
Tom Ryley, executive vice president of refining and marketing, will expand his role to oversee all of Suncor’s refining and retail operations in Canada and the U.S.
DENVER
Royal Gold buys Battle Mountain Gold
Denver-based Royal Gold Inc. said it agreed to acquire Battle Mountain Gold Exploration Corp. for stock valued at about $46 million. Both companies are mining-royalty owners, collecting production royalties from other firms that mine for gold and other precious metals.
Shareholders of Battle Mountain will receive stock valued at 60 cents for each of their shares.
WASHINGTON
Treasury auctions $38 billion in T-bills
The Treasury Department auctioned $21 billion in three-month bills at a discount rate of 4.965 percent and an additional $17 billion in six-month bills at a rate of 4.855 percent.
