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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.

Ultra-luxury land yachts from Cadillac and Rolls-Royce | Autoblog Podcast #752

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by News Editor Joel Stocksdale. In this week's news, we about a pair of ultra-luxury electric cars, the 2024 Cadillac Celestiq and Rolls-Royce Spectre. We also cover the 2024 GMC Sierra EV and 2024 Chevy Trax, plus some of the reveals from the Paris Motor Show. The show is capped off with a discussion about the electric cars Greg Migliore has driven for the North American Car and Truck of the Year Awards: the Rivian R1S SUV and Lordstown Motors Endurance pickup truck. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #752 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown 2024 Cadillac Celestiq 2024 Rolls-Royce Spectre 2024 GMC Sierra EV 2024 Chevy Trax Paris Motor Show: Jeep Avenger EV Cars we're driving 2023 Rivian R1S 2023 Lordstown Motors Endurance Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video:

2025 GMC Terrain spy photos show it inside and out

Chevy recently introduced the redesigned 2025 Equinox, but GMC has, so far, been silent about the Terrain, the Equinox's fraternal twin. But it does seem that there is a redesigned 2025 GMC Terrain on the way. These spy photos show the new model, and they reveal that the GMC will be even more distinct from the Equinox with this generation than the previous ones. From the outside, what we can see suggests the new Terrain will be more evolutionary than the Equinox. It still has a fairly upright nose with a tall grille and the C-shaped headlights. Along the side, there's still a distinct kink up at the back of the door that carries into the rear quarter window and around the back. Not many details are clear at the back, but new to this Terrain are visible exhaust outlets, a pair of rectangular ones sitting in cutouts at the base of the bumper. The inside is a massive change from the current model, and one that is quite welcome. The design clearly borrows from the also recently redesigned Acadia. It's centered around a monolithic screen with a center control knob and a set of physical switches at the screen's base. There doesn't seem to be much panel on either side of the screen, so the air vents may sit at the top of the screen. The instrument cluster is another screen, but a wide landscape-oriented example. The rest of the dash will probably be channeling some modern industrial looks with rectangular, horizontal and beveled panels. Since the new Equinox is launching this year, we're expecting this Terrain to launch this year, too, or ever so slightly later. It should be revealed in a few months to fit that launch window. It will undoubtedly get the same new platform used by the gas-powered Equinox, along with the turbocharged 1.5-liter four-cylinder with 175 horsepower. All-wheel and front-wheel drive should be on offer with an eight-speed automatic or CVT respectively. The GMC will also surely get a luxurious Denali trim and an off-road-oriented AT4 trim, the latter of which will probably get the addition of amber marker lights over the wheel arches like on the pickup trucks and the Acadia AT4. Related Video: