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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.

2016 Ford Police Interceptor Utility shows up for duty in Chicago

The latest upgrade for the 2016 Ford Police Interceptor Utility is all set to patrol the Windy City's streets with its debut at the 2015 Chicago Auto Show. On the outside, the revised Ford police vehicle looks basically the same as the recently refreshed Explorer with a new grille and redesigned headlights. Inside, there's a restyled steering wheel and center console. Unlike the civilian model, though, the PI Utility gets heavy-duty brakes, a more robust cooling system, reinforced subframe mounts and larger diameter suspension springs for more strength. Under the hood, police forces get to choose between either a 3.7-liter V6 with 304 horsepower and 279 pound-feet of torque or a 3.5-liter EcoBoost V6 with 365 hp and 350 lb-ft of twist. Regardless of powertrain, these 'utes feature a six-speed automatic transmission and all-wheel drive. The transmission includes the awesome-sounding Pursuit Mode feature that switches over to more aggressive shifts when it detects harder driving to properly stop crime. Related Video:

Has the 2015 Ford Mustang gained hundreds of pounds?

Automakers face competing interests when it comes to developing a new generation of vehicle. On the one hand, companies want to build their cars to be safer and better handling, with more equipment and maybe even larger dimensions over the model it's replacing. On the other hand, they strive to keep weight down to the benefit of both performance and fuel consumption. Usually something has to give, and in the case of the new 2015 Ford Mustang, those efforts may have resulted in a weight penalty of two or three hundred pounds.
This according to Blue Oval modifier Steeda Autosports, which states that "the 2015 Mustang ended up gaining 200-300 pounds in this remake". Despite the Mustang not being on the market yet, it would appear the leading Ford aftermarketer has been given early access to the 2015 model to help jumpstart its tuning efforts (a rather common development among trusted tuners). If Steeda's assertion is accurate, that would make the challenge of getting the new pony car up to speed for both Ford and aftermarket customizers like Steeda that much greater.
We're waiting for official word from Ford on the veracity of Steeda's claim, but if true, it's bound to be a bit of disappointing news for legions of Blue Oval performance enthusiasts. Watch this space for more.