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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 CT4-V Road Test Review | V is for Deja Vu

We now know that the 2021 Cadillac CT4-V is not the performance pinnacle of the line – that would be the 472-horsepower Blackwing. As it is, all the outrage spewed in the direction of Cadillac when it announced the once-great CT4-V was being downgraded to more pedestrian levels was ultimately much ado about nothing. Still, there's a kernel of truth to the notion that the new CT4-V (or CT4 V-Series as it's also known) just doesn't go far enough – or more accurately, the gap between it and the supposedly lesser CT4 Premium Luxury trim is surprisingly small. After driving the CT4 Premium Luxury with the optional 2.7-liter "450T" engine, I wrote here on Autoblog, "It's legitimately fun. You can feel the immense strength of the chassis, as well as the impeccable suspension tuning when hustling the car along. You also just feel things. There seems to be less cushion and fewer 1's and 0's between you and the car compared to other sport sedans like the BMW 3 Series and new Acura TLX. The steering has a lot to do with it: consistently weighted, regardless of drive mode, without too much speed-based adjustment, and genuine feedback filtered through the steering wheel. At the same time, the CT4 seems far more grown up and sophisticated in its engineering than the various front-drivers it competes with on price." After driving the CT4-V five months later, I wrote some notes on my computer. I later discovered they were virtually identical in overall impression to what is pasted above. It was like I had driven the same car twice. The resulting conclusion: I'd really need to exuberantly drive them back to back to notice a difference, especially as both cars had all-wheel drive. Even then, maybe not. It's perfectly plausible that many won't even notice a difference at all.  The all-wheel-drive point is key, however, because it means this CT4-V did not have the rear-drive version's Magnetic Ride Control 4.0 that always does wonders for a car's ride and handling. Maybe it would do so again here, but it's not like the CT4's ride or handling, regardless of flavor, needs much help. Much like the Premium Luxury 450T, the AWD CT4-V's fixed "performance" suspension provides a terrific balance of achieving a fast-attack pace in the mountains while not beating you up everywhere else. It absorbs bumps well and is neither crashy nor harsh. In other words, I didn't miss Magnetic Ride Control.

Hotter Cadillac ATS-V+ could use LS7 power

Rumor has it Cadillac is working on an even hotter version of the ATS-V, possibly called ATS-V+. And the latest intel from Motor Trend suggests this new model might have a great, big V8 under the hood. The V8 in question is the high-revving, naturally aspirated 7.0-liter LS7 from the Camaro Z/28. The hand-built engine makes 505 horsepower and 481 pound-feet of torque in the Z/28 – a nice increase over the 464 hp and 445 lb-ft in the standard ATS-V, which uses a twin-turbocharged 3.6-liter V6. Motor Trend says the ATS-V+ will come to market with an eight-speed automatic transmission, as well as the seven-speed manual 'box from the Corvette. A dual-clutch transmission will come to market later. Of course, we'll believe it when we see it. But an LS7-powered ATS-V sure sounds like a great package to us. Here's hoping.