NATION

NATION

Axle strike forces GM to make more cuts

DETROIT — General Motors Corp. says the eight-week strike at American Axle and Manufacturing Holdings Inc. has forced it to cut production at two more factories.

GM spokesman Dan Flores says the company on Monday cut one of three shifts at an Oshawa, Ontario, factory that makes the Chevrolet Impala and Buick Lacrosse sedans. It also cut production of four-speed transmissions at a factory in Michigan’s Ypsilanti Township.

The strike at American Axle has affected production at 30 GM factories in the U.S., Canada and Mexico.

Aetna CEO compensated nearly $18.2M in 2007

HARTFORD, Conn. — Ronald Williams, chief executive of Aetna Inc., received compensation last year valued by the insurance company at almost $18.2 million, according to a regulatory filing Monday.

Williams was paid a salary of almost $1.1 million in 2007 and received $1.9 million in a nonequity incentive plan, according to Aetna’s proxy statement filed with the Securities and Exchange Commission. But most of Williams’ compensation, about $15 million, was in what Aetna estimates to be the fair value of stock grants awarded to the chief executive in two payments in February 2007.

Associated Press