Period Stock of Pay

rate record date

IRREGULAR

Telfonos Mex A Q 1.151 3-25 4-2

STOCK

Fst Constitution Bcp 5pc 1-20 2-2

Utd Sec Bcsh CA 1pc 1-9 1-21

INCREASED

Anworth Mtg Q .26 12-31 1-20

Dynex Capital Q .2375 12-31 2-2

W.P. Carey & Co. Q .494 12-31 1-15

INITIAL

Noah Ed Hldgs .56 12-30 1-6

REDUCED

Aircastle Ltd. Q .10 12-31 1-15

SPECIAL

Epoch Hldg .12 12-31 1-15

Fifth Str Fin .05 12-30 1-29

SUSPENDED

Frontier Financial

Hillman GP 11.6pc pf t-bill auction

T-bills Monday 12/15

3-month 0.040 0.050

6-month 0.285 0.270

The Treasury Department auctioned $27 billion in three-month bills and $27 billion in six-month bills.

The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,999.00 while a six-month bill sold for $9,985.67.

Caterpillar Inc., the world's largest maker of mining and construction equipment, said Monday it will cut executive compensation by up to 50 percent next year because of slower demand amid the global economic downturn.

The Peoria, Ill., company also said it was offering voluntary buyouts to about 25,000 U.S.-based managers and support employees and had instituted a global hiring freeze. Caterpillar, which employs about 112,000 people worldwide, has expanded dramatically in recent years, driven partly by demand from infrastructure projects in developing countries. Caterpillar said it also plans to reduce compensation for senior managers by up to 35 percent, as well as lower compensation by up to 15 percent and suspend merit pay increases for managers and support staff.

Hampton Roads

Dominion to give to food banks

Dominion Resources Inc. announced Monday that it planned to donate more than $1 million in the 14 states where it operates to support food banks. The donations, made through the company's charitable foundation, include $150,000 for food banks in Hampton Roads.

Dominion, the Richmond-based parent of electricity company Dominion Virginia Power, has slotted $550,000 for Virginia and North Carolina and other donations for food pantries in Ohio, Pennsylvania, West Virginia, Connecticut, Massachusetts, Rhode Island, New York, Wisconsin, Illinois, Indiana, Maryland and Texas.

- Carolyn Shapiro, The Pilot

nation

CIT Group cleared as bank company

The Federal Reserve on Monday said it has approved CIT Group Inc. as a bank holding company, clearing a key hurdle for the firm to bolster its resources with loans and support from the government's financial rescue fund.

The Fed's decision means the New York City-based commercial financial services firm will have permanent access to the Fed's emergency loan window and also will be eligible for loans from the $700 billion rescue fund created by Congress on Oct. 3.

Sale of Lehman unit approved

A bankruptcy judge on Monday approved the sale of Lehman Brothers Holdings Inc.'s prized investment management unit to a group of managers and employees. The sale brought $922 million to the Lehman bankruptcy estate, a Lehman lawyer said.

- From Pilot and wire reports

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