COMPANIES

Maxxam Will Make Payments: Maxxam Inc. and its subsidiary, Pacific Lumber, said they will make payments to 350 retired workers at former Pacific Lumber welding subsidiaries whose pension checks were reduced because of the financial problems of Executive Life Insurance of California. Maxxam and Pacific Lumber had agreed to make up the 30% shortfall for the retirees from the forest-products division. However, Pacific Lumber also sold nine welding firms during the 1980s, and about 350 workers were covered by Executive Life annuities. Maxxam and Pacific Lumber said they will make up the shortfall for these former workers.