1997 Ford F-250 Xlt Crew Cab Pickup 4-door 7.3l---all Original 3 Owner 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.

Preserving automotive history costs big bucks

$1.8 million is spent each year to maintain GM's fleet of 600 production and concept cars.
When at least two of the Detroit Three were on the verge of death a few years back, one of the tough questions that was asked of Ford, General Motors and Chrysler execs - outside of why execs were still taking private planes to meetings - was why each company maintained huge archives of old production and concept vehicles. GM, for example, had an 1,100-vehicle collection when talk of a federal bailout began.

Mercedes-Maybach GLS 600 and our new long-term Acura TLX | Autoblog Podcast #661

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Green, John Beltz Snyder. This week, they talk about the cars they've been driving, including the Mercedes-Maybach GLS 600 and Audi A4, as well as the recently departed long-term Volvo S60 T8 and the new addition to the long-term fleet, an Acura TLX. In this week's news, they talk about the Stellantis merger completion, some more thoughts about GM at CES, BMW announcing an electric M car, an upcoming electric Lincoln Corsair and the possibility of an electric-only Ford Mustang in 2028. Autoblog Podcast #661 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown What we're driving:2021 Mercedes-Maybach GLS 600 2021 Audi A4 S Line 45 TFSI Quattro 2020 Volvo S60 T8 2021 Acura TLX A-Spec News:Stellantis is a thing now More thoughts on GM at CES BMW announces electric M car is coming this year Electric Lincoln Corsair-E coming in 2026, report says The next-gen Ford Mustang reportedly going all-electric, arriving in 2028 Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: