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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.

2016 Cadillac ATS-V blasts into LA

The first details about the 2016 Cadillac ATS-V recently hit the web ahead of the official debut at the 2014 Los Angeles Auto Show. Now, the latest model to wear Caddy's high-performance V moniker is officially official, and the specs are even better than initial rumors suggested.
The latest figures actually give the ATS-V a hair more power than first believed, with 455 horsepower and 445 pound-feet of torque pumping out of the twin-turbocharged 3.6-liter V6. With a standard electronic limited-slip differential keeping rear wheels in check, Cadillac claims that the model sprints to 60 miles per hour in 3.9 seconds and on to a top speed of 185 mph. Buyers have two transmission choices that both offer launch control: a six-speed manual featuring Active Rev Match and no-lift shifting, or an eight-speed automatic.
Thoroughly revised suspension and braking systems should also mean that the ATS-V excels at more than just going in a straight line. The chassis itself receives extra bracing to boost overall stiffness by 25 percent over lesser ATS models. On top of that, a host of suspension upgrades front and rear, including third-generation Magnetic Ride Control dampers, mean quicker steering response and a tighter ride. Plus, Brembo six-piston calipers up front and four-pistons in the rear should bring rapid deceleration. To tune it all to the driver's whim, the Performance Traction Management system gives five settings to choose from for stability and traction control.

2020 Cadillac Escalade spied for the first time

Cadillac is expanding its crossover and SUV range with a new three-row XT6, but that doesn't mean it has forgotten about the one that started it all. As seen in the above photos, the company is testing a new version of the Cadillac Escalade. It's well-covered, but there are a number of details that we can make out. We'll get to what we can see of the design in a bit, but the big news is the suspension. Like the new Tahoe we previously spied, the 2020 Cadillac Escalade will have an independent rear suspension replacing the solid axle set-up that GM's full-size SUVs have always possessed. Its rivals from Ford/Lincoln went independent long ago. We can't underline enough how much of a difference this will make. Handling should be less cumbersome and the ride will be smoother and less prone to jiggling over bumps. It would be improved even further if Cadillac continues to offer magnetically controlled shocks as standard. Inside, the third-row should be positioned lower, thus lowering the current sky-high load height and resulting in a third-row that's actually habitable. In other words, the Escalade won't be so archaic. You can see the visual differences between the new (top) and current (bottom) designs below. Now, as for the design, our best clue to the new Escalade's design is in the grille. The flashy slatted chrome grille of the current model is gone and in its place a more modest mesh grille with little studs pushed to the front. It's very much like the grille found on the new CT6 and XT4. Also, like those two vehicles, the headlights appear to have more horizontal elements than the very vertical examples on the current Escalade. The rest of the SUV is harder to make out. The profile is very similar to the current one, and will surely be shared with the Chevy Tahoe and Suburban and GMC Yukon models. The rear features new rectangular exhaust tips nestled into the rear bumper. The taillights will likely continue to stretch up the rear pillars. Like the suspension, the Escalade will continue to be generally mechanically the same as the aforementioned Chevy and GMC versions, albeit with the best parts standard. The updated 6.2-liter V8 with Dynamic Fuel Management first introduced on the Silverado and Sierra will likely be the standard engine. It will then be paired with the 10-speed automatic transmission. With the new Navigator so widely impressing in reviews and in sales, this new Cadillac Escalade will have to step it up.