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The UAW's 'record contract' hinges on pensions, battery plants

DETROIT - After nearly four weeks of disruptive strikes and hard bargaining, the United Auto Workers and the Detroit Three automakers have edged closer to a deal that could offer record-setting wage gains for nearly 150,000 U.S. workers. General Motors, Ford Motor and Chrysler parent Stellantis have all agreed to raise base wages by between 20% and 23% over a four-year deal, according to union and company statements. Ford and Stellantis have agreed to reinstate cost-of-living adjustments, or COLA. The companies have offered to boost pay for temporary workers and give them a faster path to full-time, full-wage status. All three have proposed slashing the time it takes a new hire to get to the top UAW pay rate. The progress in contract talks follows the first-ever simultaneous strike by the UAW against Detroit's Big Three automakers. The union began the strike on Sept. 15 in hopes of forcing a better deal from each major automaker. But coming close to a deal is not the same thing as reaching a deal. Big obstacles remain on at least two major UAW demands: restoring the retirement security provided by pre-2007 defined benefit pension plans, and covering present and future joint- venture electric vehicle battery plants under the union's master contracts with the automakers. On retirement, none of the automakers has agreed to restore pre-2007 defined-benefit pension plans for workers hired after 2007. Doing so could force the automakers to again burden their balance sheets with multibillion-dollar liabilities. GM and the former Chrysler unloaded most of those liabilities in their 2009 bankruptcies. The union and automakers have explored an approach to providing more income security by offering annuities as an investment option in their company-sponsored 401(k) savings plans, people familiar with the discussions said. Stellantis referred to an annuity option as part of a more generous 401(k) proposal on Sept. 22. Annuities or similar instruments could give UAW retirees assurance of fixed, predictable payouts less dependent on stock market ups and downs, experts said. Recent changes in federal law have removed obstacles to including annuities as a feature of corporate 401(k) plans, said Olivia Mitchell, a professor at the University of Pennsylvania Wharton School and an expert on pensions and retirement. "Retirees want a way to be assured they won't run out of money," Mitchell said.

2018 Buick Regal's base price is almost $2,500 cheaper than last year's

Along with the launch of the Buick Regal GS, Buick released official pricing for all three versions of the Regal, and they're very competitively priced, especially the Sportback. The part-sedan, part-hatch Regal Sportback starts at just $25,915. That's more than $2,000 cheaper than the previous generation 2017 Buick Regal sedan, which started at $28,385. Along with the savings in cost comes a standard turbocharged 2.0-liter four-cylinder making 250 horsepower and 260 pound-feet of torque - 295 pound-feet with optional all-wheel drive. That's a significant step up from the standard naturally aspirated engine in the previous-generation Regal that makes just 182 horsepower and 172 pound-feet of torque. The new Regal's hatch also provides more flexibility for loading cargo, and the cargo space expands from 14.2 cubic feet in the old model to 31.5. View 12 Photos The TourX wagon, or crossover depending on your opinion, comes with a $4,000 premium over the Sportback, with a base price of $29,995, matching what was revealed last month. It gains only about an extra cubic foot behind the rear seats, but with the seats folded, it has 73.5 cubic feet to play with. It also comes with standard all-wheel drive and the engine with 295 pound-feet of torque. Plus, it has the added ride height and plastic body cladding that gives it the same trendy look shared with the Subaru Outback, Volvo V60 Cross Country, and Audi A4 Allroad. It is a few thousand more than the Outback, but it undercuts the Volvo by roughly $10,000 and the Audi by almost $15,000. Then, for performance, there's the Regal GS. It starts at $39,990 and has a 310-horsepower V6 and standard all-wheel drive. It also features all of the versatility of the regular Regal Sportback. All-in-all, the Buick Regal line seems to pack a lot of value, at least on paper. Related Video:

Buick asks design students 'What could a Buick sedan look like in 2030?'

When you think of daring concept cars or emotional design-student projects, Buick probably isn't the first brand that comes to mind. It's not for lack of concepts; when General Motors ran down 11 concept-car highlights from Buick's 110-year history, three of them are from the past 15 years, with other experiments in that same timeframe like the Black Hawk, Centieme and Cielo left unmentioned.
But the company still thinks about them even if we don't. It ran a contest for students at Detroit's College for Creative Studies to create a Buick for the year 2030 that would incorporate future materials and transportation needs, and nanotechnology.
Best exterior design went to Sam Kenny for his Neo Classical Buick, Justin Salmon took honors for innovative material use, like having exposed algae on the bodyshell to generate energy, and Namsuk Lee nabbed best overall concept and best interior for his Buick Vision Sedan. You can read more about the design challenge and winners in the press release, and hear students talk about what went into the work in the video below.