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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.

Polestar 3 and 5 updates, and a compact Toyota pickup? | Autoblog Podcast #733

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Green, John Beltz Snyder. First, they discuss the news, including the possibility of a compact Toyota pickup, new details about the Polestar 3 and Polestar 5, whether Tesla needs a PR department and fresh info about the 2023 Honda HR-V. They also review the GMC Sierra, Kia EV6, Hyundai Kona Electric and Buick Enclave Avenir. Next, Consumer Editor Jeremy Korzeniewski reports from the ground at the first drive of the Ford Bronco Raptor, and Multimedia Producer Erik Maier joins in to talk about Autoblog's Father's Day gift guide and other deals. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #733 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Toyota looking hard at compact pickup market Polestar 3 shows itself and looks good Polestar 5 electric sedan outed in EU patent images (and now we have spy shots) Does Tesla need a PR department? (via Automotive News) 2023 Honda HR-V pricing and specs revealed Cars we're driving: 2022 GMC Sierra 1500 Denali Ultimate 2022 Kia EV6 2022 Hyundai Kona Electric 2022 Buick Enclave Avenir Dispatch: 2022 Ford Bronco Raptor Father's Day gift ideas straight from the Autoblog staff Five excellent Father's Day deals for dads Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video:

2016 Buick Cascada marks the return of casual convertibles

Buick is reentering the convertible game after a 25-year absence with this, the long-awaited 2016 Cascada. Fans of General Motors' European operations will recognize this svelte, four-place droptop as a rebadged version of the critically well-received Vauxhall/Opel Cascada, a model that has been on sale to audiences across The Pond since 2013. The Cascada will once again give American car buyers the chance to buy a relaxed, affordable two-row convertible without sporting pretensions, an option that arguably hasn't been available since the demise of the Chrysler 200 droptop. For US duty, the softtop Cascada will arrive with a 1.6-liter, direct-injected, turbocharged four-cylinder that churns out 200 horsepower. That figure is paired up with 206 pound-feet of torque, which can be bumped to 221 lb-ft via an overboost function. A six-speed automatic will dispatch that power to the front wheels, which are managed courtesy of a HiPer strut front-suspension system. While the Cascada might share its front suspension with the setup found on the Regal, its torsion-beam rear suspension has more in common with the Vauxhall/Opel Astra (and Buick Verano) on which it's based. 20-inch wheels and an electric power-assisted steering system round out the convertible's handling hardware. Of course, we doubt most Cascada customers will care about such oily and unseen things. Instead, they'll be more focused on the droptop's sheetmetal, which, considering it's basically a convertible version of the extremely handsome Astra, should win the car at least a few fans. While we only have so much detail to work with in the images that have been released so far – we'll be seeing the Cascada firsthand this evening (Sunday), so check back tonight for additional live images later today. Naturally, the Vauxhall/Opel grille will be replaced by Buick's trademark waterfall grille, although the company's other big styling calling card, portholes, are absent from our current pair of shots. A wide chrome strip stands out on the rear, tying the taillights together and increasing the Cascada's resemblance to the Regal sedan. A single oval exhaust tip juts out from the driver's side rear bumper. In terms of its actual dimensions, the Cascada's wheelbase is less than half an inch longer than the Verano, while the droptop is an inch longer than its four-door counterpart overall. At only an inch wider, meanwhile, the Cascada will enjoy the same easy to manage footprint as Buick's entry-level sedan.