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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.

2021 Cadillac Escalade's EPA highway fuel economy is worse than before

EPA fuel economy estimates for the 2021 Cadillac Escalade are out, and the news is mostly not good. The redesigned SUV sees slim to no improvement in the Feds' city ratings, and its highway numbers are considerably worse than before. These are estimates for the standard 6.2-liter V8. Figures for the no-cost-optional 3.0-liter turbodiesel six have not been released yet. Specifically, the rear-wheel-drive 2021 Escalade has estimates of 15 mpg city, 20 mpg highway, and 17 mpg combined. Compared to the outgoing 2020 version, powered by the same 6.2L V8, those numbers represent a 1 mpg improvement in city (the lone piece of good news) but are 3 mpg worse on the highway. With all-wheel drive, the 2021 Escalade can't even get out of the teens, with EPA ratings of 14 mpg city, 19 mpg highway, and 16 mpg combined. That's the same city rating as before and a 2 mpg decline versus the 2020 model's highway rating. For further comparison, cross-town rival Lincoln's Navigator with its 3.5-liter turbo V6 manages 16 mpg city and 22 mpg highway (RWD) and 16/21 with AWD. No one expects an ultra-large, body-on-frame, three-row SUV to achieve Prius-like levels of fuel efficiency, but it's pretty rare these days to see such backsliding with a fresh redesign. Here's hoping the diesel variant will have a happier story to tell. Related Video:

2020 Cadillac CT5 debuts at N.Y. Auto Show as a proper sport sedan

The 2019 Cadillac CT5 is here, and it's not a tweener sedan. After having done battle with the luxury sedan world through cars that were either too large or too small, Cadillac is using the CT5 to take direct aim at the BMW 3 Series, Audi A4, Alfa Romeo Giulia and Mercedes C-Class. Specifically, the CT5 replaces the CTS, but takes on vehicles one class smaller than what the CTS did. So, let's take a look at what Cadillac is bringing to the table. To begin, GM knows it has a winner on its hands with the Alpha platform used on the CTS and ATS and the Camaro, so engineers adapted it to the CT5. This seems like a great start, because we all happen to love the driving dynamics from vehicles on this chassis. The wheelbase is a couple inches longer than the CTS, but the CT5 is a couple inches shorter in overall length. As a result, the wheels get pushed toward the corners of the car, leaving the CT5 with relatively short overhangs in the front and rear. It looks different than both of the to-be-discontinued Cadillac sedans, but we wouldn't call it revolutionary. The rear end isn't quite a "sportback," but it's a "faster" shape, eschewing a traditional sedan's long decklid for a sloping-roof look instead. This shape does come at the expense of rear seat headroom, but we'll dive into the interior later. We got a little preview of the powertrain setup before this official reveal, but details were scarce. The base engine is the recently new 2.0-liter turbo four-cylinder found in the Cadillac XT4. Just as it did in that vehicle, this engine makes 237 horsepower and 258 pound-feet of torque. While it might be down on power compared to the old 2.0-liter in the ATS (272 horsepower and 295 pound-feet) we found it to be incredibly smooth, refined and not lacking in thrust compared to the old unit. We're sure the four-pot will offer sufficient power for the CT5, but the 3.0-liter twin-turbo V6 is lying in wait. This engine makes 335 horsepower and 400 pound-feet of torque. Both engines are paired to a 10-speed automatic transmission and can be had in rear-wheel drive or all-wheel drive in every configuration. So yes, you can get the V6 with rear-wheel drive, thankfully. Cylinder deactivation is also equipped to both these power units — the four-banger is able to run on two cylinders, while the V6 drops to four. Cadillac was entirely transparent about its new pumped-in engine sound strategy, too.