2014 Lincoln Mkz Base 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.

Lincoln revival bypasses rear-wheel drive for now

Ford execs had the axe ready for Lincoln just a few years ago, but the luxury marque is on a hot streak these days. Annual sales are up 7.5 percent through October, and the recently unveiled, refreshed 2017 MKZ previews the company's improved styling. In a great piece about the brand's growth strategy, Automotive News finds the division's bosses want to focus on the core vehicles before taking a big step and building a rear-wheel drive niche model. "Luxury coupes and sports cars are not the first place we need to go," Global Lincoln Director Matt VanDyke said in the story. The division's bosses want to use the updated MKZ as an opportunity to distance Lincoln's identity from Ford, and the powertrain will carry the 3.0T badge rather than Ford's EcoBoost name as part of that approach. The model also injects excitement into the range thanks to an all-wheel drive version with a 3.0-liter twin-turbo V6 with 400 horsepower and an optional Driver's Package with a torque-vectoring rear differential. Lincoln will launch at least three new models by 2020, too. One of those will be the production Continental that will reportedly debut at the Detroit Auto Show. The company will also allegedly revive the Aviator to fit below the Navigator. The third vehicle remains a mystery but likely isn't a compact. Automotive News' story further examines the previously languishing brand's work to climb up the luxury ranks in the US. It's well worth a read. Related Video:

Woman keying luxury car caught on tape

Toronto police are on the hunt for a disguised woman who was caught on camera Sunday keying a car. The woman sported a red bandana over her face and baseball cap as she ran up to the Lincoln MKS in a driveway, the Toronto Star reported. She then went to town with a sharp object, gleefully scratching the car's paint job. She runs off after nearly a minute of enthusiastic damage. Police believe the victim and the vandal know each other, since the Lincoln is the only car in the neighborhood she hit. This is also the third time this particular car has been damaged. They suspect this woman is responsible for the previous incidents. Toronto police told the Star that it will likely cost Lincoln owner thousands to have his car repaired. Security cameras are great for catching vandals in the act, though the videos are difficult for any car enthusiast to watch. Take for instance this video from London in April of a man scratching an Aston Martin while pushing a baby stroller. News Source: The Toronto Star Lincoln Videos vandalism scratch