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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.

2014 Cadillac CTS starts $7k higher than last model at $46,025*

The redesigned 2014 Cadillac CTS will be more powerful, stylish and luxurious than its predecessor, but it will also be much more expensive. With a new starting price of $46,025 (*including $925 for destination), the 2014 CTS represents a price increase of more than $7,000 compared to the 2013 model, but it should be more appropriately sized and equipped to take on rivals like the BMW 5 Series and Mercedes-Benz E-Class, which start at $47,800 and $51,900, respectively.
Available trim levels - referred to as Collections - include Luxury, Performance and Premium, offering either a 2.0-liter turbocharged inline four-cylinder or a 3.6-liter V6 and the choice of either rear- or all-wheel-drive configurations. For more performance, the all-new CTS Vsport model will have an asking price of $59,995. This 420-horsepower model is more powerful than both the BMW 550i and Mercedes E550 and about $2,000 less expensive than both.
There's still no word on what Cadillac has in store for a next-gen CTS-V sedan, but we're guessing power and price will both rise considerably. Scroll down for more info on the 2014 CTS that is set to go on sale this fall.

Cadillac CT6 PHEV battery shape a big departure for GM's plug-in hybrid tech

Anyone with any familiarity with the electric powertrain details for the two General Motors plug-in hybrids will have noticed that the information we have about the newly announced Cadillac CT6 plug-in hybrid has a lot of numbers in common with the Chevy Volt and the Cadillac ELR, like the 18.4-kWh lithium-ion battery pack and an expected all-electric range of 37 miles. We also noticed that the announcement calls the plug-in CT6 hybrid an actual plug-in hybrid and not an "extended range electric vehicle (EREV)," which is what GM calls the Volt and the ELR. This, of course, means we needed to ask GM some questions. Donny Nordlicht from Cadillac communications told AutoblogGreen that while the Volt and CT6 batteries are both 18.4-kWh, the shape is completely different. In the Volt/ELR, the battery is T-shaped (see it here). The CT6 has four seats, with a tunnel running between the two in the rear, as you can see here, but the battery in the CT6 PHEV is "a cube-shaped pack, which is between rear seats and the trunk," Nordlicht said. "There is no pass through." GM has not yet released any technical schematics about this pack, but Nordlicht said that, "The CT6's advanced mixed-material platform was designed to accommodate the PHEV system by design so that it minimally intrudes on the cabin space." It also means that the CT6 can be ordered as an optional PHEV, while the Volt and ELR were purpose-built plug-ins. GM is also distinguishing between the EREV and PHEV powertrains in its vehicles from this point forward. "We are not discarding the EREV language," Nordlicht said. "The CT6 utilizes a two-motor system mated to a 2.0T 4-cylinder engine, which is an all-new system to Cadillac." We assume that the PHEV packs will use li-ion cells from LG Chem, just like the EREVs do, but Nordlicht did not answer our question on that point. As for other details about the CT6 PHEV – like production, full dimension, and pricing – we will just have to wait until closer to when the vehicle launches for those. Related Video: