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UAW reveals more details for tentative FCA deal

Around 40,000 union workers employed by Fiat Chrysler Automobiles have a new proposed contract to vote for or against just about a week after soundly rejecting a previous proposal. Like the contract that was rejected, this new proposal was negotiated between union leadership and management at FCA. If workers vote this time to accept the contract, negotiations are likely to begin in earnest with the other two big American automakers, Ford and General Motors. The biggest sticking points that kept the previous contract proposal from being ratified revolved around so-called second-tier UAW workers. Under the rejected contract, there wasn't a clear path in place that would bring these newer hires into wage parity with first-tier workers. The newly proposed contract, however, would have second-tier employees earning around $29 per hour – the same as first-tier workers – after eight years of employment. A slightly revised profit-sharing plan is also included, as is a larger signing bonus for first-tier workers. Gone from the new contract proposal is a health-care cooperative that would combine workers from all three Detroit-based automakers into one pool. While this action had the potential to lower health-care costs for UAW members, it wasn't universally understood by rank-and-file workers, said UAW President Dennis Williams. "I was a little naive," he said. "I really thought everyone understood it. It is my fault. I should have educated people more on it. And so we did take it out of the agreement." If ratified, this new contract will go into effect immediately and will cover a four-year period. Over that course of time, the UAW expects FCA to increase its employment figures by a little more than 100 workers, according to reports. Additional details on the contract can be seen on the UAW's website here. News Source: The Detroit News, The Detroit Free Press, United Auto Workers (PDF)Image Credit: Jeff Kowalsky/Bloomberg via Getty Earnings/Financials Hirings/Firings/Layoffs UAW/Unions Chrysler Fiat FCA

FCA registers 'Cuda' trademark, but we wouldn't get our hopes up

It seems Chrysler has submitted a trademark with the US Patent and Trademark Office for the name "Cuda," as first reported by Motor1. Fans of Mopar will instantly recognize this as the abbreviated name of Plymouth's classic Barracuda muscle car, which occasionally bared the shortened nomenclature. Though this might seem like a sign that FCA is considering a revival of the beloved machine, we wouldn't get our hopes up. See, rumors of a 'Cuda or Barracuda revival have circulated pretty much since the moment Dodge showed the modern Challenger and when it went on sale. And some of those rumors have involved the re-registering of the 'Cuda trademark, even as far back as 2010. Over the years, each rumor died a quiet death as time went on and no 'Cudas appeared on dealer lots. There is one rumor that's recent enough to still have a slim chance of realization, circa 2015 to be exact. It predicts a smaller Challenger-based car called Barracuda that could appear as a Dodge in both coupe and drop-top versions. However, we doubt it will come true, since FCA doesn't exactly have a large development budget, and we're not sure what the company would have to gain by making another sports car to sell below the Challenger. Odds are, it would cannibalize sales from the older, completely developed, and thus more profitable Challenger. Really, this trademark filing is probably just a defensive move for Chrysler. It will ensure that no one else can slip in and snag the name for their own vehicle. It should also help ensure that Chrysler has the rights to use the name on other products such as memorabilia. Sorry to crush your dreams. Related Video: News Source: US Patent and Trademark Office via Motor1Image Credit: Chrysler Rumormill Chrysler Dodge Coupe Performance hemi cuda

Ferrari stock sale pegged for October, or later

The Ferrari IPO is still coming, but it won't be before Columbus Day (Monday, October 12, that is), according to Fiat Chrysler Automobiles CEO Sergio Marchionne. The outspoken exec is blaming tax reasons for the fourth-quarter date, according to a report from Reuters. Marchionne said a full year needed to pass between FCA's October 13, 2014 Wall Street debut and any additional listing. This isn't the first delay in the Ferrari IPO. FCA was originally supposed to make a 10-percent offering of Ferrari during second or third quarter of 2015, before officially pushing things back to the third quarter of this year. Now, it's unclear if Ferrari will even go public before the dawn of 2016. Related Video: News Source: ReutersImage Credit: Marco Vasini / AP Earnings/Financials Government/Legal Chrysler Ferrari Fiat Sergio Marchionne FCA fiat chrysler automobiles