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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.

Jeep's 75th Anniversary Wrangler Salute rolls down the line

UPDATE: The commemorative 75th Anniversary Jeep Wrangler rolled down the assembly line in Toledo, Ohio today. With its roll bar, doors, and rear seat removed, it really does pay fitting tribute to the classic Willy military models of the past. The 419 area code stenciled on the bumper and date on the hood look period appropriate. Well done, Jeep. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. It's difficult to pinpoint exactly when the Jeep Wrangler was born, but the automaker claims the legendary off-roader as we know it today was officially created in 1941. On July 15th of that year, the US Government awarded Willys-Overland with a contract to build the Willys MB, which quickly got the nickname "jeep". To commemorate its 75th anniversary, Jeep has created a WWII-themed Wrangler that pays homage to the Willys MB. The gorgeous concept most likely won't see the road, which is a shame as the rugged one-off yanks at the heartstrings of truck enthusiasts and historians alike. Based on of the current Wrangler Sport, the olive-drab Wrangler 75th Salute concept imitates the original Willys MB to the tee. The concept has no B-pillars, no doors, no roll bars and honors the "function over form" styling of the original military vehicle. The concept rides on 16-inch steel wheels that are wrapped in 32-inch non-directional tires and features vintage-looking hood latches, steel front and rear bumpers with tow hooks, and low back canvas seats. The Salute concept will be built on the same assembly line in Toledo, OH that has produced the Wrangler for decades. In addition to putting out an image of the concept, Jeep also touched on the rich history of the original Willys MB, which you can read below. Related Video: In July 1940, the U.S. military informed automakers that it was looking for a "light reconnaissance vehicle" to replace the Army's motorcycle and modified Ford Model-T vehicles. The Army invited 135 manufacturers to bid on production and developed a lengthy specification list for the vehicle, including a 600-lb. load capacity, wheelbase less than 75 inches, height less than 36 inches, smooth-running engine from 3 to 50 miles per hour, rectangular-shaped body, four-wheel drive with a two-speed transfer case, fold-down windshield, three bucket seats, blackout and driving lights and a gross vehicle weight below 1,300 lbs.

Jeep Grand Cherokee SRT gets power increase, minor tweaks for 2015

As a brand within Fiat Chrysler Automobiles, SRT may have an uncertain future, but it's pumping out some seriously mean machines anyway. The supercharged Hellcat V8 may be gobbling up most of the headlines with its 707 horsepower, but even the Grand Cherokee SRT is getting some small updates for the 2015 model year.
Most importantly for many enthusiasts, the Grand Cherokee SRT is getting a slight power bump. Don't expect the 700+ hp from the Hellcat, but this SUV sees a modest 5-hp and 5-pound-feet of torque improvement to bring output to 475 hp and 470 lb-ft for its 6.4-liter V8 with an eight-speed automatic. The minor change doesn't change the sprint to 60 miles per hour, clocking in at the same 4.8 seconds, or the tow rating at 7,200 pounds. Still, more grunt is never a bad idea.
Another new addition is the Active Noise Canceling system as a standard feature for this powerful SUV. It adds four microphones around the vehicle and uses the stereo system to nullify extraneous sound. However, Jeep claims that the meaty exhaust note from the V8 still gets through into the cabin for driver enjoyment.