Limousine 2006 120 Inch By Tiffany 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 teases electric concept SUV that will debut soon

An electric Lincoln concept vehicle is going to be revealed on April 20, and today Lincoln is giving us a quick glimpse of what to expect. Before we detail the few shots of the car itself, here’s all Lincoln told us about the vehicle: “The global concept serves as inspiration for our fully electric Lincoln vehicles coming in the near future.” So, expect to see elements taken out of this concept car applied to production cars later this decade. As of now, the main theme we can see in the teaser is light. Lincoln is using LED lighting tech all over the car, and itÂ’s even in some unique spots like the roof, hood and fenders. ThereÂ’s a good chance this lighting doesnÂ’t make it anywhere near a production car, but it gives us a look at where LincolnÂ’s heads are at with design. Clearly, light will be key. Where the light makes more sense is in the light-up Lincoln badges all over the concept. We can see the massive light-up badge in front, smaller light-up badge on the side and the “Lincoln” spelled out with light-up letters on the rear. ItÂ’s also important to note that this concept is an SUV of sorts. We can see very little of the actual design, but itÂ’s no surprise to see Lincoln using the SUV body style as inspiration for its future EVs. The little we can see of the grille/front of the car makes it look like a wide and largely empty expanse of space. Most of the detailing is shrouded in darkness, so weÂ’ll just have to wait until April 20 to see what Lincoln has cooked up for us. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Junkyard Gem: 1979 Lincoln Continental Town Car

Ford built Continentals from the 1940 through 2020 model years (with a couple of pauses during that period), and the biggest and arguably most extreme Continentals of all were the 1977-1979 models. That's what we've got for today's Junkyard Gem: a 1979 Continental Town Car with Cream paint outside and plenty of Light Gold Jubilee velour inside, found in a self-service boneyard in Sparks, Nevada. Thanks to the big 5 mph crash bumpers, the overall length of the 1977-1979 Continental sedan stretched to an astounding 233 inches. That's more than a foot longer than the 2024 Lincoln Navigator, though the Navigator scales in at more than a half-ton heavier than the '79 Continental sedan. For the 1980 model year, the Continental went onto the Panther platform and shed 10 inches of wheelbase, more than 13 inches of length and 500 pounds of curb weight. Considering the geopolitical events of 1979 and their effect on fuel prices, this turned out to be good timing … but the downsized '80 Continental didn't look as imposing (or as white-powder-dusted) when it pulled up to the valet parking stand at the disco. When your sedan weighs 4,649 pounds, you want serious power under its hood Â… and that was a rare commodity among 1979 automobiles sold in the United States. This is a 400-cubic-inch (6.6-liter) pushrod V8, essentially a stroked 351 Cleveland, rated at 159 horsepower and 315 pound-feet. That means that each of this car's horses had to drag 29.2 pounds, a ratio that's quite a bit worse than that of the much-maligned-for-slowness 2024 Mitsubishi Mirage (though the respectable torque made driving these cars tolerable enough in most situations). The interior was all about cushy seats and space to stretch out. The silver-faced gauges were very classy. Opera lights? You bet! This would have been an excellent, if thirsty, long-distance highway cruiser for its day. There were some 1999 coupons inside, suggesting that the car had been parked for a quarter-century before coming to this place. The high-elevation desert sun is murder on vinyl roofs. On January 10, 1981, people associated with this fine luxury automobile played golf at Willow Glen in San Diego. On the same day, Richard Boone died and Jared Kushner was born. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. A standard by which luxury cars are judged.