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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.

Judge refuses to reconsider GM lawsuit against Fiat Chrysler

A federal judge in Detroit said Friday that he will not reconsider his July dismissal of General Motors’ racketeering lawsuit against Fiat Chrysler Automobiles. U.S. District Judge Paul Borman wrote in an opinion that new evidence presented by GM regarding bribes and foreign bank accounts “is too speculative to warrant reopening” the case. Borman also ruled that the earlier dismissal of the case was not done in legal error. GM alleged that FCA used foreign bank accounts to pay bribes to former United Auto Workers Presidents Dennis Williams and Ron Gettelfinger, as well as Vice President Joe Ashton. It also alleges that money was paid to GM employees including Al Iacobelli, a former FCA labor negotiator who was hired and later released by GM. GM said the payments were made so the officials would saddle GM with more than $1 billion in additional labor costs. “Even if the affidavits establish that these foreign bank accounts exist, that fact does not rise to the inference advanced by GM, that FCA was more-than-likely using the bank accounts to bribe UAW officials,” BormanÂ’s order stated. GM said Friday that it would appeal BormanÂ’s ruling to the Sixth Circuit Court of Appeals. “TodayÂ’s decision is disappointing, as the corruption in this case is proven given the many guilty pleas from the ongoing federal investigation,” GM said in a statement. “GMÂ’s suit will continue — we will not accept corruption.” FCA lawyers wrote in court documents that allegations it bribed union officials are “preposterous” and read like a script from a “third-rate spy movie.” Gettelfinger denied the allegations in a statement and said he had no foreign accounts. WilliamsÂ’ California home was raided by federal agents but he has not been charged. Iacobelli, who is awaiting sentencing in the federal corruption probe, also denied the claims. “Judge BormanÂ’s ruling this morning once again confirms what we have said from the beginning — that GMÂ’s lawsuit is meritless and its attempt to submit an amended complaint under the guise of asking the court to change its mind was nothing more than a baseless attempt to smear a competitor that is winning in the marketplace,” FCA said Friday in a statement. Related Video: Government/Legal Chrysler Fiat GM

Waymo self-driving van involved in Arizona crash

A self-driving Chrysler Pacifica minivan operated by Waymo, the autonomy subsidiary of Alphabet/Google, was involved in a two-car accident Friday afternoon in Chandler, Ariz. First reports indicate the autonomous vehicle was not at fault in the crash — not the "violator vehicle," according to ABC 15 News. This may be Waymo's first accident in its Arizona test program. The Waymo van's side was crumpled. Though Waymo announced in November it would do testing in Chandler without a human backup driver, one was behind the wheel of the van involved in the crash. Chandler police said the van was operating in autonomous mode. Minor injuries were reported. The accident was at Chandler Avenue and Los Feliz Drive. A Honda was eastbound on Chandler when it had to swerve to avoid a northbound vehicle in the intersection, police said. When it swerved, it entered the westbound lanes and struck the oncoming Waymo van. Waymo did not immediately comment on the accident. In March, a self-driving Uber vehicle struck and killed a pedestrian in Tempe, the first known fatality involving a self-driving car. Since that crash, Uber has halted its self-driving tests nationwide. Waymo CEO John Krafcik said following the Uber crash that his company's technology would have detected and avoided the pedestrian. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Image Credit: ABC 15 Auto News Green Chrysler Minivan/Van Autonomous Vehicles Waymo chrysler pacifica