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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.

Remembering Pierre Cardin's automotive legacy

Pierre Cardin has passed away at age 98, and while the designer had a great impact on the world of fashion, he also brought his signature style to the automotive realm, chiefly with the unlikely partner of American Motors. At the dawn of the 1970s, AMC decided to seek out a little glamour for its freshly renewed product lineup by having famous fashion designers work their magic on AMC cars. The first model to get the fashion treatment was the Hornet Sportabout wagon, with a special Gucci edition that became available for 1972. Later that same year, Pierre Cardin's Javelin was introduced. The Cardin Javelin arrived midway through the '72 model year as an interior option package. The designer had submitted as many as 10 proposals to AMC, and the chosen selection was a black interior with a wild multi-hued stripe of silver, white, red and purple that grooved across the seats, touched the door panels and continued onto the headliner. "People should feel like they're sitting in a living room rather than a machine," the designer was quoted in ads introducing his eponymous Javelin. In a press release, AMC said, "Cardin takes an ultra-modern abstract approach to his interior design." The Cardin interior option package was available with specific exterior colors: Snow White, Stardust Silver, Trans Am Red, and Wild Plum. For the '73 model year, Diamond Blue was a new exterior color option. The Pierre Cardin option was only $85 and was offered exclusively on the Javelin SST, although it's reported that the Pierre Cardin option also appeared on a handful of Javelin AMX models. For 1973, you could officially get a Pierre Cardin Javelin AMX. A total of 4,152 were built over the two model years. AMC's next fashion special was the Matador coupe, but the automaker tapped Oleg Cassini for that gig. Pierre Cardin was not finished with the automobile business, though. In 1975, he put his touch on the Sbarro Stash, an obscure supercar based on the SV1, with the result displayed at the Paris auto show. The designer next customized a run of early-'80s Cadillac Eldorados, and this time the treatment extended beyond the interior. A redesigned front end featured hidden headlights behind a full-width horizontal-car grille but unfortunately made the already-considerable front overhang even longer; the rear treatment was similarly modified with the factory vertical taillights replaced with horizontal units.

Cadillac considering more engines, Vsport model for Escalade

Want to roll in the latest Cadillac Escalade? You can get it with a 6.2-liter V8... or a 6.2-liter V8. Cadillac only offers the one engine option. But that may soon change.
According to the latest from Automotive News, Cadillac is contemplating a couple of new powertrain options for its blingin' big ute. The report suggests a twin-turbo V6 and a V6 turbodiesel could be offered, and that Cadillac could create a Vsport version of the Escalade like it offers on the new CTS sedan.
The more diverse engine offerings would help attract buyers from the new Lincoln Navigator, its prime competitor, which switched from a 5.4-liter V8 this year to a 3.5-liter twin-turbo V6. The turbo V6 engines (both gasoline and diesel) would also help Cadillac market the Escalade overseas - particularly in Europe, where higher fuel prices preclude the prospect of driving a big V8 SUV for many buyers. Escalade sales have dropped from 35-40k units in the mid-2000s to around 12,000 the past couple of years.