1969 Chevrolet Corvette 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.

Chevy finishes restoration of damaged 1 millionth Corvette

When a sinkhole at the National Corvette Museum devoured eight, rare examples of the iconic American sports car last year, some of the victims emerged better than others. While damaged, the 2009 Corvette ZR1 Blue Devil was able to drive out under its own power, making for a fairly straightforward restoration. Meanwhile, the one-millionth 'Vette came out looking like a pancake. Bringing the convertible back to perfection has taken four months and 1,200 man-hours, but the milestone car is finally on display again. After being a brief exhibit at the National Corvette Museum, the millionth 'Vette was moved to the General Motors Design Center. There, a 30-person team started on the difficult restoration. "When we disassembled it, we found that each employee involved in building it had signed a part of the car, which was fantastic and moving to see," said GM executive Mark Reuss. Therefore, the team tried to retain as many original parts as possible. The damage was extensive, and repairs included straightening the front sub-frame damage, patching the seats, and carefully restoring the dashboard pad to maintain the signatures below. The hood, front fascia, and side sills were replaced with parts from a donor vehicle. To keep the 'Vette perfect, the team scanned the names and put them on the new components. In one case, they even went back to an original employee to sign a replacement part. Surprisingly, the engine and transmission were fine. With the work done, the National Corvette's Museum's revived exhibit is nearly complete. Five of the other cars aren't being restored, and the museum is bringing the 1962 Corvette back to life. <p>Your browser does not support iframes.</p> Chevrolet Fulfills 1 Millionth Corvette Restoration Pledge Sinkhole-damaged milestone returns to National Corvette Museum 2015-09-03 BOWLING GREEN, Ky. – After more than four months and 1,200 man-hours of painstaking craftsmanship, restoration of the milestone 1 millionth Corvette – a white 1992 convertible – is complete. It was unveiled today at the National Corvette Museum, where it returns as part of the permanent exhibit. The car was damaged on Feb. 12, 2014, when it and seven other rare Corvettes tumbled into a sinkhole that opened beneath the museum's Skydome area. Chevrolet pledged to restore it.

These are 2014's best-selling cars and trucks

Now that 2014 is no more than a set of numbers on spreadsheets, at last, the grist mill gets its first real load to chew on. The number one selling vehicle in America last year was the Ford F-Series, a fact that should surprise you only if your family name is Van Winkle and your naps tend to last 38 years, which is how long the Ford pickup has ruled our buying landscape. Even though series sales were down 1.3 percent, it still racked up 753,851 units. That's 2,065.3 sales per day, every day, all year. The Chevrolet Silverado, up 10.3 percent for the year, was still a daylight second at 529,755 units. The cab-and-bed love continued into third place with the Ram 1500-3500 trucks, gaining 23.6-percent year-on-year to clock 439,789 units. The robust turnout at The Bighorn and Jeep helped Fiat-Chrysler increase its sales by 16 percent, past the two-million mark. Our number one car? The Toyota Camry, staying in first place with a 4.9-percent sales boost to 428,606 sales, trailed again by the Honda Accord at number five with 388,374 sales. Accord sales rose six percent, and if it's any consolation to Honda for coming in second - not that it needs one - it is the only manufacturer to have three vehicles in the top ten. The rest of the list: the Nissan Altima with 335,644 sales (+4.7%), the Honda CR-V with 355,019 (+10.2%), the Toyota Corolla/Matrix combo with 339,498 (+5.9%), the Honda Civic with 325,981 (-3.1%), and the Ford Fusion with 306,860 sales (+2.9%). Total sales for the year were up six percent to 16.5 million vehicles, a volume not seen since 2006, aided by a strong December that was up by 11 percent year-on-year. Ford was the top selling brand overall but sales didn't really budge from 2013, while Subaru rocketed up 21 percent to finish with 513,693 sales. At the precious end, BMW, Audi, Porsche and Land Rover all had record years, and Kelley Blue Book thinks we could be looking at 17 million sales for the next two or three years. Looks like it's time to start making hay again... Featured Gallery Best-selling vehicles of 2014 View 10 Photos News Source: Detroit News, Associated Press Auto News Chevrolet Ford Honda Nissan RAM Toyota Car Buying Truck Sedan sales