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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.

CNG Chevy Impala launch delay grows to a year

The 2015 Chevrolet Impala Bi-Fuel was announced in Washington D.C. in late 2013 by Dan Akerson and was supposed to be on sale by the summer of 2014. Capable of running on gasoline and compressed natural gas, the sedan was said to offer a novel solution at a time when gas prices were high. The vehicles still haven't arrived at dealers, though, and according to Automotive News, a quality issue has set back the launch even a few months more. Using a modified 3.6-liter V6 with hardened valves and valve seats, the Bi-Fuel Impala has separate tanks for gasoline and CNG that it can switch between on the fly. When running on the cheaper natural gas, the sedan was estimated to get 19 miles per gallon in the city and offer 150 miles of range, and the total driving distance was predicted at around 500 miles. The base price was set at $38,210, after the $825 destination charge. The only other major tradeoff was a smaller trunk to accommodate the extra fuel. However, the first shipments of the bi-fuel models now aren't expected until mid-July – about a year later than the scheduled launch. A memo to dealers obtained by Automotive News said the sedan "has been delayed by a second quality hold" to look at the CNG system. The exact details surrounding this problem haven't been released. "We have identified a solution to the delay and are working hard to implement it within the next few months," General Motors spokesperson Chad Lyons said to Automotive News. Around 200 Bi-Fuel Impalas have been made, but none are yet in the hands of customers. Dealers should be able to order 2016 model year examples starting in the third quarter of this year.

Dodge Challenger SRT Hellcat vs. Chevrolet Camaro ZL1 in latest Head 2 Head

"Olympian" is one of the terms we use to signify the greatest height, the seat of the gods. Yet Mt. Olympus is the second-highest peak in the Balkans ranges, overshadowed by the crest at Musala in Bulgaria's Rila mountains. Both great heights, but one is a little higher. That's how we get the Olympian Chevy Camaro ZL1 pitched at the Musalic Dodge Challenger SRT Hellcat in Motor Trend's latest episode of Head 2 Head. The side-by-side spec sheet is filled with farcical numbers. For the ZL1, that's a 6.2-liter V8 with 580 horsepower, 556 pound-feet of torque, a 4,051-pound curb weight, 0-to-60 miles per hour in 3.9 seconds, a quarter-mile time of 12.2 seconds and a base price of just $57,800. Opposing that, the Hellcat wrings out its 6.2-liter V8 for 707 hp, 650 lb-ft of torque, weighs 4,449 pounds, does the quarter in 11.7 seconds and has a base price of just $60,990. Except in the case of the Hellcat, when Motor Trend put it on the dyno the machine spit out a reading of 672 hp and 606 lb-ft at the wheels. If there's a 10-percent driveline loss through those beefed-up internals and heavy-duty eight-speed transmission, that means the Hellcat is actually rated at about 750 horsepower and 700 lb-ft. But once they get put on a closed-off strip of coast road in Northern California, there are only a few strands of hair between their respective performances. That's not the case for they sensations provide; host Jonny Lieberman calls one of them, "One of the most incredible cars ever made," and says, "It changes everything." Watch the video above to see who got the verdict and how. Related Video: