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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.

2019 Dodge Challenger SRT Hellcat Redeye Drivers' Notes | Wide awake

Editor-in-Chief Greg Migliore — I've always wondered how Dodge would evolve the Challenger. There was only one real generation, not counting the rebadged Mitsubishi. Past and present, it's always looked the same. With the Hellcat, Demon, and now my personal favorite, the Hellcat Redeye Widebody, it makes total sense. There's no need to redesign it every few years. Just tweak it and add cool features — like flared fenders and the 797-hp Hellcat engine. It's all you need. This thing makes a statement. The Redeye is the car your neighbors want a ride in. I parked in our office building's basement, and co-workers heard me gunning the engine — two stories up. It's a growl. It has bass. It's angry. It gets a little metallic sometimes, depending on how and when you lay on the gas. I launched fairly hard at every traffic light. Sometimes I'd rev at idle. The Monroney that came with our test car lists the fuel economy as zero (it actually gets 13 city and a respectable 22 highway). But still. You get the point. I've always liked how the Challenger drives. It's big. It's heavy. The hood looks like the deck of an aircraft carrier. It's not trying to be a track rat. Go fast in a straight line. That's what you do. Take a hard left and maybe you skid a little bit. Maybe that's the idea. You don't eat cheeseburgers because they're good for you. You eat them because they taste good. Hey, cheeseburgers have protein. And vitamins. Healthy isn't the right description, but there are some benefits. The same reasoning applies to this Challenger. The interior is attractive, well-furnished and comfortable. The leather-trimmed seats are supportive. I love the saddle brown color. I used to say the coupe's low roof and bulky A-pillars were a problem. Then I got over that. You're driving nearly 800 hp, so sit up and be on your toes. The trunk is huge, too. I could have put a car seat in the back, had I needed to. You can live with the Challenger. And the Redeye is perhaps the best version yet. The starting price is about $60 grand. That's a steal. The price of our tester is $92,290. That's insane. The $6,000 widebody pack is the thing I'd recommend most out of all the options. Get the nice leather, too. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

UAW workers in Indiana, Stellantis reach tentative deal to end strike

United Auto Workers union members who went on strike Saturday at the Stellantis casting plant in Indiana have reached a tentative deal with the company. The UAW Local 1166 bargaining committee announced a tentative agreement in a blog post, saying that a ratification vote would be held Monday. Stellantis confirmed the tentative deal Monday. The strike was related to health and safety issues, including the company’s alleged refusal to repair and replace the plantÂ’s air conditioning and heating systems. The 35-acre plant in Kokomo makes parts used in the power trains of Chrysler, Dodge, Jeep and RAM vehicles. The 1,200-worker plant, Kokomo Casting, is the worldÂ’s largest die cast facility, according to Stellantis. In May, Stellantis announced a $2.5 billion joint venture with Samsung to build an electric vehicle battery factory in Kokomo that is to employ 1,400 workers. Stellantis, created last year through the merger of Fiat Chrysler and FranceÂ’s PSA Peugeot, had said it would build two electric vehicle battery factories in North America. The other is slated for Windsor, Ontario. Plants/Manufacturing UAW/Unions Chrysler Dodge Jeep RAM