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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.

2023 Cadillac Escalade-V and Honda HR-V | Autoblog Podcast #735

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore and Senior West Coast Editor James Riswick have been driving some interesting vehicles, including the Cadillac Escalade-V, VW Jetta, BMW X3 and the new Honda HR-V. They also compare the Duramax-powered Chevy Silverado High Country to the 6.2-liter GMC Sierra Denali Ultimate. Senior Editor, Green, John Beltz Snyder drops in with a dispatch from the first drive of the 2023 Cadillac Lyriq, previewing his upcoming review of the brand's first EV. Finally, they open the mailbag and help a reader pick a used car for under $20,000 in the Spend My Money segment. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #735 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving 2023 Cadillac Escalade-V 2022 Volkswagen Jetta 2022 BMW X3 M40i 2023 Honda HR-V 2022 Chevy Silverado High Country w/Duramax vs. GMC Sierra Denali Ultimate w/6.2-liter Dispatch: 2023 Cadillac Lyriq Spend My Money: Sub-$20k used car Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video:

Chevy brings back Midnight Edition Colorado and Silverado for 2016

Chevrolet is capitalizing on the popularity of last year's shadowy Midnight Edition pickups with new versions at the Chicago Auto Show. The package's darker trim allows buyers to make their trucks look a little more menacing straight from the dealer. The 2016 Midnight Editions don't deviate from last year's monochromatic theme. The trucks feature blacked-out trim from the grille, badges, bumpers, and headlight bezels. The obsidian shades also appear on the side moldings and painted wheels. Chevy completes the dark theme with a black spray-in bedliner. Available with the Z71 package, customers can also get off-road equipment like an upgraded suspension, locking rear differential, and hill descent control – depending on the model. Chevy offered the Midnight Edition for the Silverado and Colorado last year, in addition to other models, and customers couldn't get enough of the dark trucks. "The Silverado 1500 Midnight was by far the most popular model in 2015, as demand outstripped supply in a matter of months. It only made sense to expand our special-edition offerings for 2016, including new Midnight editions," Sandor Piszar, Chevy's truck marketing director, said in the models' announcement. Chevy spokesperson Monte Doran told Autoblog the 2016 Midnight Edition pickups will be available this spring, but he wouldn't comment on pricing. You can get a good look at what to expect in the gallery above and expect live photos soon. Related Video: Chevrolet Trucks Back in Black for 2016 New Midnight Special Editions available on Silverado 1500 Z71, Colorado Z71 DETROIT – Chevrolet is expanding the popular Midnight Special Edition with new models available on 2016 Silverado 1500 Z71 and 2016 Colorado Z71. They join a growing portfolio of special-edition trucks whose popularity helped Chevrolet truck sales increase 27 percent last year – double the increase for the total truck market. "We introduced several special-edition trucks in 2015 – each combining equipment and appearance packages designed for specific enthusiasts in mind," said Sandor Piszar, Chevrolet truck marketing director. "They clearly resonated with buyers, as the special editions sold in one-third the time, and to younger, more affluent buyers than the industry average. "The Silverado 1500 Midnight was by far the most popular model in 2015," Piszar continued, "as demand outstripped supply in a matter of months.