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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.

2020 Cadillac XT5 makes its official debut, adding a new engine and improved tech

The 2020 Cadillac XT5 is here, and it’s new in some significant ways. To start, it gets a slightly revised look. We got a preview of it a month ago when Cadillac revealed the car in China, but these are official U.S.-specific photos now.  YouÂ’re looking at pictures of the XT5 Sport and Premium Luxury here. We mention this because Cadillac is continuing in its “Y” trim strategy of offering a Luxury, Premium Luxury and Sport version of their cars with noticeable design differentiation between each one. The Sport gets a darker appearance package with the XT4-like grille, as opposed to the Premium Luxury that is set to emphasize bright trim (i.e. chrome).  WeÂ’re expecting a noticeable change in the driving experience for the 2020 XT5, as the new base engine is the 2.0-liter turbocharged four-cylinder that debuted in the XT4. ItÂ’ll be making 237 horsepower and 258 pound-feet of torque in this application, just as it does in every vehicle GM is spreading it to. The 3.6-liter V6 is standard on the Sport (optional on Premium Luxury), and continues to make 310 horsepower and 271 pound-feet of torque. Both engines are paired with nine-speed automatic transmissions now — the V6 was paired with an eight-speed previously.  Cadillac has also spent some time with the suspension, giving the non-Sport trims “revised front struts and driveline enhancements to improve ride comfort and road isolation.” We like the sound of that. Then, the Sport trim is legitimately sportier than the Luxury trims. Cadillac has fitted its continuous damping control adaptive suspension, given it quicker steering, standard all-wheel drive and standard 20-inch wheels. All that should make it slightly more lively through the twisties. A smattering of tech updates are coming onboard for 2020. Cadillac added its rotary controller that lets you control the updated infotainment system via that device or through the touchscreen. Available wireless phone charging, revised USB ports and USB Type-C ports come on the 2020 XT5. Then youÂ’ll notice new interior color and trim gracing the interior surfaces, as well. Cadillac says there are more “authentic materials” than before, so hopefully that means less plastic. What Cadillac made no mention of in its release, is Super Cruise. ItÂ’s going to be coming to the recently revealed CT5 and CT4-V sedans, but Cadillac doesnÂ’t seem particularly keen to get it on the crossovers yet.

Tesla Model Y and Cadillac CT5 | Autoblog Podcast #573

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Consumer Editor Jeremy Korzeniewski and Associate Editor Joel Stocksdale. They catch up on the Tesla Model Y, as well as the Cadillac CT5 and the brand's new naming structure. Afterward they talk about our driving the 2019 Mazda3, 2019 Volkswagen Golf GTI and 2019 Ford Ranger. Finally, the three editors take a lap around eBay looking for the best ways to spend $15,000 on a car. Autoblog Podcast #573 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 Tesla Model Y unveiled Cadillac CT5 and Cadillac's new badging strategy Cars we're driving: 2019 Mazda3 2019 VW Golf GTI 2019 Ford Ranger How we'd spend $15,000 on eBay Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: