1988 Lincoln Mark Vii 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.

BMW M4 versus Audi RS5 | Autoblog Podcast #546

On this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Associate Editor Reese Counts. We debate the merits of the BMW M4 and the new Audi RS5 and our hopes for the refreshed Mercedes-AMG C63. We also discuss the state of Cadillac, the future of the Ford Fusion and the rumored Mercedes-AMG competitor to the Porsche 718 Boxster and Cayman. Autoblog Podcast #546 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown 2018 BMW M4 versus 2018 Audi RS5 Cadillac and Mercedes-AMG sport coupes The state of the luxury car industry The future of the Ford Fusion Replacement for the Mercedes-Benz SLC Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: Design/Style Podcasts Audi BMW Cadillac Ford Lexus Lincoln Mercedes-Benz Convertible Coupe Crossover SUV Luxury Performance bmw m4 mercedes-amg c63

2016 Lincoln MKX First Drive [w/video]

The Lincoln Motor Company was one of America's great luxury symbols of the 20th Century. It grew from an aircraft engine maker during the First World War to become the car of presidents. The jaw-dropping Continental concept revealed earlier this year is a clear indication that Lincoln plans to build on its history and recapture some of that luxury magic. While the image of a powerful Continental thundering over a tony Westchester road is certainly romantic, it does little to sell cars today. Enter the 2016 Lincoln MKX. Flagships like the Continental are great, but Americans buy way more crossovers, and Lincoln's redesign of the MKX focuses on the needs of modern luxury customers. That means more and better safety features, a quiet interior with attractive materials, and classy exterior design. The potent 2.7-liter twin-turbo V6 pushes out 335 horsepower, outperforming V6 offerings from Lexus and Acura. There's also a new engine – Ford's potent 2.7-liter twin-turbo V6 pushing out 335 horsepower – that outguns V6 offerings from Lexus and Acura. All told, it's a tasteful redesign with some spotlight features that might turn a few more customers Lincoln's way. The updates are intriguing, yet many of them (aside from the V6's 380 pound-feet of torque) are rather subtle. So we grab the key fob to an attractive all-wheel-drive model decked out with the Reserve package and set out for a long weekend to absorb the new MKX. Several days of running errands around town, commuting, and a three-and-half-hour drive from metro Detroit to the northern tip of Michigan lay ahead of us. We're going to be spending a lot of time in the MKX, so naturally, we take stock of the interior. Our tester (we photographed a different one) is done up in a cappuccino leather theme, which means brown leather for the steering wheel, armrests, and the tops of the door panels. Another chocolately strip bisects the dashboard. The rest of the cabin – the headliner, the seats, the sides of the doors, etc. – is a creamy white. We sink into the seats, which are cushy yet supportive. The headrest is like a pillow, and the plush floormats feel made for bare feet. The touchscreen works well, and it's complemented by redundant buttons and switches, which we like. The MKX is generally user friendly. The touchscreen works well, with little poking or jabbing. It's complemented by redundant buttons and switches, which we like.