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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.

Jay Leno gets his denim mitts on Dodge's new Challenger Hellcat

The 2015 Dodge Challenger SRT Hellcat is definitely the performance car of the moment. The fact that in the near future, people will be able to buy a 707-horsepower muscle machine straight from a major automaker for $59,995 and with a factory warranty almost seems absurd. We drove it recently and found the Hellcat to be just as much of a beast as its numbers would suggest. Now, it's a certain comedian's turn behind the wheel in the latest episode of Jay Leno's Garage.
This week's guest is Dodge President and CEO Tim Kuniskis, and he's there to drop all sorts of interesting factoids about the Hellcat. For example, its Pirelli P Zero tires retail at around $300 each, he says. That makes its smoky burnouts a rather expensive proposition. Kuniskis, who recently hinted at a mystery Woodward Dream Cruise debut, also talks about the genesis of the 2015 SRT project with a goal to get over some of the standard Challenger's weight and size disadvantages. The fix is a supercharged V8, massive brakes and other goodies to smooth over the platform's more glaring shortcomings.
Leno appears to get a big kick out of the Hellcat. However, he can't seem to stop bringing up his desire to drive one with a six-speed manual. They obviously exist, but Kuniskis has an eight-speed automatic for the retired Tonight Show host to try out. Of course, as with any Hellcat video, there has to be at least one burnout. Despite the expensive tires, it seems like enthusiast's law at this point - and dear ol' Jay wouldn't want to break any rules, would he?

Dodge recalls 173 Chargers and Challengers for front wheels that don't fit correctly

Dodge is recalling 173 Challengers and Chargers because they’re equipped with an incompatible front wheel and brake package. All the vehicles are 2019 model year cars built between May 28 and September 25 this year, according to the official NHTSA documents. The wheels donÂ’t provide enough clearance from suspension and brake components, Dodge says. ThereÂ’s a chance that the tireÂ’s inner sidewall will make contact with the steering knuckle. When the tire hits the steering knuckle, it could end up damaging the tire, causing a “sudden loss of tire air pressure.” This, of course, is not what you want out of a tire. Predictably, FCA says this could result in a crash without prior warning. To fix the problem, your local Dodge dealer will be installing the wheels that shouldÂ’ve been equipped on the car in the first place. FCA continues: “Also, for customer satisfaction, replace the rear wheels to match the front wheels.” We were wondering if the rear wheels would come into play here, and it looks like Dodge wonÂ’t be leaving anyone out to dry with mismatched front and rear wheels. The wheels in question are described as “Mid Gloss Black Wheel.” Check your window sticker (or wait for the official mailing) to see if you have those wheels on your Charger or Challenger. Unfortunately, FCA doesnÂ’t detail which trims of Charger and Challenger are affected in its recall notice. The company also makes it clear that this recall is due to “an engineering release error” and not a wheel defect. This particular wheel and brake package shouldÂ’ve never been offered as an option from the factory. Look out for a notice in early December, as FCA says it will begin notifying owners around December 13 this year. As of now, there are no reported injuries or accidents due to the issue.