1984 Monte Carlo Ss 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.

2016 Chevy Malibu gets premium looks, hybrid model

The Chevrolet Malibu was once an automotive icon, but its modern reputation is one for underachievement. A new 2016 model seeks to restore the storied nameplate with improved styling, more interior room and a new hybrid version. It debuts Wednesday at the New York Auto Show. Put simply, "the goal was to put Chevrolet back in the midsize car segment," said John Cafaro, the brand's executive director of car design. In a crowded arena with 2.2 million sales up for grabs annually, Chevy has not been a player. Last year, the brand sold 188,519 Malibus, a six-percent decline from 2013, and fewer than half the number of Toyota Camrys and Honda Accords sold. Despite awards from J.D. Power and Associates and the Insurance Institute for Highway Safety, Chevy knew the Malibu needed a big change. New Skin, Lighter Bones The redesign has been in the works for at least three years. Although the Malibu is still based on GM's Epsilon 2 platform, the underpinnings are more derivative of the Impala than the outgoing model. The body structure makes greater use of high-strength steel, which helps reduce weight by 300 pounds. Size is more Impala-like as well, with 2.3 inches more overall length and a 3.6-inch wheelbase stretch contributing to greater interior space. A new skin covers the Malibu's lighter bones, and design language from the Impala gives its sibling sedan a fresher, more upscale appearance. To execute this premium appearance, Chevy turned to 25-year-old designer Jaymer Starbody, a four-year General Motors veteran and graduate from Detroit's College for Creative Studies. He described the new Malibu as having a "wheel-oriented" design, and the car looks poised to pounce from certain angles. Though the 2016 Malibu is the same width as before, designers stretched the creases and angles in the sheetmetal to create a flatter, sleeker appearance. The hood and cowl are lower, and the Malibu's face sparkles with LED running lamps on the top trim levels. Inside, the roomier cabin has a new center stack, satin chrome accents on the interior panel and a console storage area designed for mobile devices. Chevy MyLink with a seven-inch color touchscreen is standard on lower trims, and the top model upgrades to an eight-inch screen. Perforated leather seats and ambient lighting are also available options. The cabin was designed to look high-tech, but still remain easy to use, according to Chevy interior design director Crystal Windham.

Pure Vision Design TT Camaro has 1,400 reasons to want it

We've talked about Pure Vision Design before, a California-based company that made waves at last year's SEMA show with its Martini-liveried, Indy-car-powered Ford Mustang. That same car later starred in a Petrolicious video we showed you just a few weeks back. The company's latest creation is a menacing car it calls the Pure Vision Design TT Camaro. Based on a 1972 model, this car shares the Martini Mustang's clean styling and obsession with details.
Unlike the Mustang, which draws its power from a mid-60s Lotus-Ford Indycar engine, the "TT" in this Camaro's name implies something far more potent. The Nelson Racing Engines 427-cubic-inch V8 has been fitted with a pair of turbochargers, with a claimed output of 1,400 horsepower. That's almost 1,000 more than the Martini Mustang.
A six-speed Magnum transmission dispatches that power to the ground, while Pirelli PZero tires are tasked with (somehow) trying to grip the road. Baer brakes hide behind those HRE rims, while JRI coilovers and HyperTech springs bless the Camaro with some degree of competency in the bends.