Business

Stocks of local interest

Former Borders Group Inc. CEO Ron Marshall received compensation in 2009 valued at $805,774, about 26 percent less than he made in the prior year.

Marshall, who vacated the CEO position this January after only a year at the bookseller's helm, received a salary of $750,000. He also was paid other compensation worth $55,774, including $30,334 for relocating and $21,676 as a reimbursement of legal fees for negotiating his employment contract.

That is down about 26 percent from the $1.08 million he was paid in 2008 when he joined the company, which mainly included a signing bonus and stock option awards.

Marshall left Borders in January to head up supermarket retailer Great Atlantic and Pacific Co. chief merchandising officer Mike Edwards has been serving as Borders' interim president and CEO while the No. 2 traditional bookseller tries to find its fourth CEO in five years.

ConocoPhillips

ConocoPhillips chairman and CEO Jim Mulva received a 2009 pay package valued at $14.4 million, down 1.6 percent from the $14.6 million he received in 2008.

Mulva, who has served as chairman of the third-largest U.S. oil company since 2004, was eligible to receive more, but said he would not accept half of any performance-based bonus because the company's performance last year was not reflected in its stock price.

ConocoPhillips' shares were about flat last year, as the stock came back from the market's trough levels in March to end 2009 at $51.07.

As in the past four years, Mulva received a salary of $1.5 million. His bonus totaled $1.3 million, down about 10 percent from $1.4 million in 2008. That bonus was off 60 percent from 2007 levels as ConocoPhillips, like others in the industry, saw its financial results worsen in the second half of 2008 as crude prices plunged.

Mulva also received stock options the company valued at $11.4 million on the day they were granted in 2009, up from $11.2 million in 2008, according to the March 31 filing with the Securities and Exchange Commission.

Like other oil companies, ConocoPhillips has had to contend with the whipsaw in oil prices that went all the way to $147 a barrel in the summer of 2008 only to plunge to $32 that December. Prices have climbed back to about $85.

Rising oil prices helped ConocoPhillips post a profit of $4.85 billion last year after losing $17 billion in 2008. But higher crude prices cut into the company's refining business, which struggled with rising costs and soft demand for gasoline and heating oil.

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