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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.

Cadillac president de Nysschen says electrification coming 'across the spectrum'

We like to pick on new Cadillac president Johan de Nysschen for his insistence, many years ago, when he was president of Audi of America, that plug-in vehicles are for idiots. Listening to him give the keynote address at the Washington Auto Show today, you wouldn't know he ever said anything negative about an electric vehicle. Instead, he sounds something like a EV-angelist. De Nysschen said that Cadillac will be able to benefit from GM's considerable expertise in plug-in technology, which he said would be "applied across the spectrum of our portfolio." GM's electric committment will help in "making electrification commonplace." With the plug-in ELR already on the road, de Nysschen said that the company's next step in advancing powertrains will be the introduction of stop/start technology – which de Nysschen called an "important system to reduce fuel consumption and CO2 emissions" – into a Cadillac for the first time later this year. Without giving any specific details, de Nysschen said that Cadillac will introduce eight new models (not necessarily plug-ins) by the end of this decade, including five that "will take Cadillac into market segments where the brand is not even present today." These new vehicles will likely be much lighter than today's vehicles, de Nysschen said, because "weight reduction today is critical to automotive design, it helps to improve fuel efficiency and contributes to desireable vehicle dynamics." The key is to reduce weight without compromising safety or comfort and to use the right material – steel, aluminum, carbon fiber – in the right place at the right time. It was a not-so-subtle jab at Ford and its new aluminum F-150. "In the pursuit of weight reduction, some manufacturers have also opted for abandoning steel and have gone for an all-aluminum approach," he said. "At Cadillac, we believe that different materials each present particular advantages in specific applications. There is no single material that represents the optimum balance of the conflicting objectives of every single application." Related video:

2021 BMW M3/M4 and Volkswagen ID.4 revealed | Autoblog Podcast #646

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by West Coast Editor James Riswick. Together, they tackle a week's worth of big news, including the reveals of the BMW M3 and M4 and Volkswagen ID.4, as well as Tesla's Battery Day. Greg's been driving the long-term Subaru Forester, and gives us an update on that, while James discusses the current state and direction of Cadillac after driving the CT5. Then, the two dads talk about child seat safety, as well as random things they've learned from having children of their own. Autoblog Podcast #646 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown 2021 BMW M3 and M4 revealed with a standard manual and up to 503 horsepower 2021 Volkswagen ID.4 breaks cover with 250-mile range Why the Volkswagen ID.4 is a Very Big Deal Elon Musk promises $25,000 car, EV battery cell that costs half — but not soon 2022 Tesla Model S Plaid coming with three motors and more than 1,100 horsepower Cars we're driving: Long-term 2019 Subaru Forester 2020 Cadillac CT5 A conversation on child car seats Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: Green Podcasts BMW Cadillac Subaru Tesla Volkswagen Safety Coupe Crossover Electric Luxury Performance Sedan