1981 Lincoln Mark Vi Base Sedan 4-door 5.0l 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.

Junkyard Gem: 2006 Lincoln Zephyr

The Lincoln Motor Company went all-truck for its North American offerings in the 2021 model year, announcing the death sentence for the Continental and MKZ sedans in 2020. The MKZ was the sibling to the Ford Fusion and Mercury Milan (the latter car discontinued in 2011 when the entire Mercury Division got the axe), but it wasn't called the MKZ for its first model year of 2006. For that one year, it was given a name with deep resonance in the Ford Empire: Zephyr. Here's one of those cars, found in a Denver boneyard recently. Ford's first use of the Zephyr name came when Edsel Ford spearheaded the creation of the futuristic-looking Lincoln-Zephyr for the 1936 model year. The Lincoln-Zephyr packed a flathead V12 engine under its hood, which is the same engine that turned a Model A Ford into a Cadillac-passing hot rod in the 1955 Charlie Ryan song "Hot Rod Lincoln" (the better-known 1971 cover version by Commander Cody and His Lost Planet Airmen inaccurately refers to the Lincoln engine as a V8; ex-Commander Cody frontman—and Iggy Pop's high school classmate—Bill Kirchen still makes the V8 claim but he's earned the right by now). The Zephyr name disappeared from the Lincoln lineup after 1942. In 1950, Ford of Britain revived the Zephyr name for use on a Dagenham-built saloon; British Zephyr production continued through 1972, and left-hand-drive versions of the Ford Zephyr were sold in the United States from the 1952 through 1964 model years. Mercury finally got the use of the Zephyr name, for the 1978 through 1983 model years, on the Mercury-badged sibling to the Ford Fairmont. A Chinese-market midsize luxury sedan built by Changan Ford was given the Zephyr Reflection name prior to launch, but it hit showrooms last year as the Lincoln Z. So much history in the junkyard! The saga of the name change from Zephyr to MKZ didn't end with the 2007 model year, though. Members of the Lincoln top brass spent some months insisting stubbornly that the new name should be pronounced "Mark Z" (apparently in reference to the great Lincoln Mark cars of the past or perhaps the brand-new Mark LT pickup), but finally acquiesced to the "Em-Kay-Zee" pronunciation used by everybody else in the United States and the "Em-Kay-Zedd" pronunciation used by the rest of the English-speaking world. The interior of the 2006 Zephyr was quite similar to what you got inside the Fusion and Milan, but with real wood (maple or ebony) trim and standard leather.

Ford's Farley will challenge dealers to cut EV cost to customers by $2,000

DETROIT — Ford Motor Co Chief Executive Jim Farley will go to Las Vegas next week to roll the dice on a strategy to convince dealers to cut as much as $2,000 from the cost of delivering an electric vehicle to a customer. Ford has told dealers that one key topic for the meetings will be a discussion of new agreements that would govern how dealers sell Ford's expanding lineup of electric vehicles. Farley told analysts in July that Ford needs to cut $2,000 a vehicle out of selling and distribution costs to be competitive with Tesla Inc and other electric vehicle startups that sell directly to consumers without franchised dealers. About a third of those savings could come from what Farley called a "low inventory model," where customers order a vehicle and Ford ships it to the customer, rather than stocking vehicles on dealer lots for weeks or months. "We think that's about -- worth maybe $600, $700 in our system," Farley told analysts. Tesla can also adjust prices rapidly on its website, and keep most of the gain from a price increase. Ford declined to comment other than to say “we are excited to meet next week with our North America dealers to grow and win together.” Dealers said they expect Ford to outline minimum investments for charging stations and other equipment to support electric vehicle customers. A key question will be how quickly dealers will be required to install chargers, which dealers said can cost as much as $500,000. "The manufacturers so far have let us scale into it and I think Ford will hopefully do the same thing. You just can't say, 'Listen, we're going to sell 2 million electric cars five years from now and we expect you to put in five superchargers,'" said Rhett Ricart, owner of Ricart Ford, a large dealership in Columbus, Ohio. Tesla's success at selling electric vehicles without franchised dealers is putting pressure on all established automakers to overhaul their retail networks. A shift by Ford to a Tesla-style build to order system could come with caps on the profit margins dealers can earn on a new vehicle sale, some dealers said. "I see dealer margins still being very competitive, but they are going to shift," Farley said in July. Ford intends to put more emphasis on selling products and services after the initial vehicle sale, he said. Dealers said state franchise laws could give dealers leverage to resist efforts by Ford to set fixed prices or fixed fees for delivering electric vehicles.