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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.

Surprise! GM putting aluminum in next-gen pickups

Last month, General Motors launched a series of ads touting the benefits of steel over aluminum – specifically, with regard to the Chevy Silverado versus the Ford F-150. (Kind of. We're not sure what a grizzly bear has to do with anything.) We took issue with the ads, with editor in chief Mike Austin saying they "reek of insecurity, and distract from the Silverado's strengths that could be used for positive advertising." But what bothers us more, is that yet another report surfaced claiming anti-aluminum GM will indeed use the weight-saving material in its next-generation fullsize trucks. On Tuesday, GM announced a $877-million investment for its truck plant in Flint, MI. But Reuters says that huge overhaul is because the trucks will use "substantially different equipment than the tools GM uses today." The report specifically states, "People familiar with the company's plans say GM's next-generation pickups and SUVs will make use of various materials, including aluminum and lightweight steel, to shed weight and gain fuel efficiency to meet tougher federal standards." The Silverado already uses a few aluminum components in the engine and hood, and if more widespread use will help GM build its best fullsize trucks ever, then that's great. Honestly, we have no reason to doubt that aluminum will be used in the next Silverado and GMC Sierra. We just hope GM remembers that nothing is ever truly deleted from the bowels of the Internet when it launches the subsequent "look how great aluminum is!" campaign. Related Video: News Source: Reuters Green Plants/Manufacturing Chevrolet GM GMC Truck aluminum steel

Chevy, Kid Rock in Confederate flag row with civil rights group

Two of Detroit's own are ensnared in controversy today. In an interview with Fox News' Megyn Kelly, mulleted musician Kid Rock told those protesting the Confederate Battle Flag to "kiss my ass." Now, Chevrolet, which is sponsoring Rock's summer concert tour, is under fire for its support. "We are committed to our sponsorship of Kid Rock's summer tour and are confident that he will provide his fans, many of whom are proud Chevrolet owners, with a spectacular concert experience that celebrates American Freedom," a Chevy spokesperson told The Detroit Free Press last week. The company also uses the Kid Rock anthem Born Free in its pickup truck advertising. The company's position is not sitting well with the Detroit chapter of the National Action Network, though, which has called on GM to pull its support for the embattled artist. "It's obvious to us that, by supporting [Rock], while he's making inflammatory statements, General Motors becomes an accomplice if they allow him their support to stand behind his statements," the Rev. Charles Williams II, NAN's Detroit chapter director, told the Freep. As controversial as Rock's comments are, it's not entirely clear when the last time he actually waved that flag was. The Freep reports that several concertgoers don't recall seeing the flag during his most recent tour, or even over the last few years of concerts. In a 2002 interview with the paper, Rock, real name Robert Ritchie, said that the flag had been used as a symbol of southern rock and a rebel spirit, saying: "It's not about hatred or being a racist. I like Southern rock music, and a lot of people died under that flag for beliefs they had, right or wrong. But it stands for rebel, and my love of Southern rock." Related Video: