1929 Cadillac Series 328 on 2040-cars

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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.

The CadMad shooting brake Eldorado Brougham-Nomad cross is up for auction

The CadMad custom 1959 Cadillac Eldorado Brougham is the coolest car crossing the block at the Scottsdale Barrett-Jackson auction. All arguments to the contrary are wrong and can be redirected straight to the gallery above. This 16-year project built by Super Rides and commissioned by the late Steve Barton won the Don Ridler Memorial Award at the 2019 Detroit Autorama, which goes to the custom build that shows the best creativity, engineering and quality workmanship. All of those qualities are on full display in this Eldorado Brougham-Nomad mashup. Just so we’re all on the same page, a 1959 Cadillac Eldorado Brougham was no normal Cadillac at the time. The sedanÂ’s exterior design is thanks to Pininfarina, as Cadillac had the Italian design company tweak its styling. It resulted in a much more subdued Cadillac than the rest of Caddy's giant fin-tastic designs of the decade. Only 200 were made over the course of a couple years, and they remain some of the rarest production Cadillacs to this day. The “Fawntana Rose” Cadillac standing before us is a shooting brake interpretation of that famous sedan. It has lost 18 inches in overall length, four inches in width and the rear doors have been completely eliminated. A Chevy Nomad roof was shortened by a couple inches and grafted onto the bodywork. The builders say that every last piece of sheet metal was modified for this build. Still, thereÂ’s still no mistaking it for a Cadillac. The chrome bumpers and lights were left mostly untouched, and the small fins were retained, as well. That Nomad roof was painted in Titanium Silver for contrast, the same silver thatÂ’s used on the new Ford GT. Things only improve when you open the hood. A 632-cubic-inch twin-turbo V8 built by Nelson Racing Engines (NRE) powers the shooting brake. Most of the time (on 91 octane fuel), it produces around 1,000 horsepower and 950 pound-feet of torque. Feed it 112 octane fuel and NRE claims itÂ’s capable of producing upwards of 2,500 horsepower. Yowza. A four-speed automatic transmission and strengthened Corvette transaxle somehow attempts to put the power down to the rear wheels. The seats are reflective of the amount of power this car puts down — 2012 Cadillac CTS-V buckets were used and modified with mauve-colored upholstery. All the trim was hand-painted, including the wood-grain flooring in back and is meant to “mimic the African Wenge and Tigerwood Maple.”  The time and effort that went into this built is truly astounding.

GM will recall more than 3.3 million vehicles in China for suspension defect

BEIJING (Reuters) - General Motors' joint venture in China, Shanghai GM, will recall more than 3.3 million Buick, Chevrolet and Cadillac vehicles stating Oct. 20 because of a defect with the suspension system, China's market regulator said on Saturday. GM Shanghai said in a text message to Reuters that the suspension arm may be deformed under extreme operating conditions, but there are no known casualties related to the issue. The recall includes cars produced between 2013 and 2018, the State Administration for Market Regulation said in a statement. GM will contact those affected and repair the vehicles free of charge, it said. (Reporting by Josephine Mason and Hallie Gu; additional reporting by Yilei Sun; Editing by Shri Navaratnam and Michael Perry)Related Video: Image Credit: Qilai Shen/Bloomberg via Getty Recalls Buick Cadillac Chevrolet Safety