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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.

Buy a Mosler Twinstar, the V16 Cadillac you almost wanted [w/video]

Cadillac was once famous for opulent, V16 luxury vehicles, but this bizarre 16-cylinder 1999 Eldorado that's for auction on eBay Motors isn't much like its ancestors. Dubbed the TwinStar, this beast features a Northstar V8 with 275 horsepower to drive the front wheels and a second Northstar with 300 hp is in the trunk to spin the rear axle. Each mill has its own four-speed automatic gearbox, and the result is a total of 575 hp of all-wheel drive fury in an incredibly weird package. The TwinStar's interior and exterior certainly don't hide the odd powertrain setup. To fit the engine in the trunk, the builders pushed the rear wheels further back and lengthened the wheelbase. There are also scoops low on each side to funnel air to the V8. Inside, there's a second ignition on the side of the center stack, and a digital instrument cluster replaces the glove box. It's sure to confuse any passenger you can convince to take a ride in this thing. Mosler, the supercar company known for models like the MT900, built five TwinStars, according to the auction. The seller links to the original review by Car and Driver, and the magazine noted that the sensation of the two engines working in tandem was rather odd. However, the TwinStar was a capable performer and ran to 60 in 5 seconds in its test. If you want to start your new year with the oddest vehicle possible, the TwinStar's auction sits at $5,600 with the reserve not met as of this writing, and it ends January 2, 2016, at 8:00 PM ET. If you can't wait that long, the dealer lists the car online for $39,900. There's also a spirited conversation on Bring a Trailer about this automotive oddity.

2020 Cadillac CT6 losing the 3.0-liter TT V6?

In April we learned Cadillac would no longer offer the 2.0-liter four-cylinder on the CT6. The same day we heard the news, the CT6 configurator showed that engine option gone, leaving three engines on the menu. That menu could lose another option come 2020, according to a report in AutoVerdict. The site says it got an order guide for the 2020 CT6, and the 3.0-liter twin-turbo V6 won't make it to the new year. That engine was once the top-tier choice, since eclipsed by the detuned 4.2-liter twin-turbo Blackwing V8 imminently available on the Platinum trim. AutoVerdict also read in the order guide that the horsepower figures haven't been finalized for next year's model. As it stands, the entry-level 3.6-liter six-cylinder makes 335 horsepower and 284 pound-feet of torque, the 3.0-liter twin-turbo V6 produces 404 hp and 400 lb-ft, and the 4.2-liter V8 ginning up 500 hp and 574 lb-ft when it arrives. Retiring the middle option ostensibly puts a big ol' gap in output and pricing between the two models left. Right now $24,200 separates the entry-level Premium Luxury from the Platinum. However, since the present Platinum uses the 3.0-liter, it's safe to guess that the 4.2-liter V8 will cost more, creating a larger gap. The Sport model in between uses the 3.0-liter, too. Perhaps that goes away, or maybe it stays and gets further cosmetic upgrades to give it more edge and a higher price. Another change coming to the 2020 CT6 is its induction into Cadillac's metric-unit torque-based badging system. This, remember, converts pound-foot torque into Newton-meters, then rounds up to the nearest 50. That means the 3.0-liter V6 will wear a 400 badge, the 4.2-liter V8 gets an 800T badge - the T standing for turbo. The year's been full of engine rationalizations at General Motors. Theories about the CT6 dropping the 2.0-liter figured it might have been about making space above the CT5, or guaranteeing supply for other GM models that use the engine, like the Cadillac XT4. The folks at AutoVerdict suspect the 3.0-liter TTV6 could be making the move to the CT5, and to the hot-headed CT4-V we'll be getting a look at come the end of this month. Related Video: