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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.

Detroit 3 small cars lay an egg in latest Consumer Reports reliability study

Consumer Reports has released its Annual Auto Reliability Survey and the results are, in a word, interesting. While we already covered the score-damaging effects of infotainment systems, there's another big angle to the data that's getting some attention - the utterly dismal scores of the Detroit Three's small car offerings.
The turbocharged Dodge Dart and Chevrolet Cruze, as well as the Ford Fiesta were their respective brands' lowest-scoring models, a stat that's made worse by the fact that the American automakers finished 25th, 21st and 23rd, respectively.
That's not acceptable for The Detroit Free Press' auto critic, Mark Phelan, who has penned a scathing critique of the D3's small car reliability scores, arguing that GM, Ford and Chrysler are "out of excuses."

We're pretty sure the Challenger SRT Demon won't have 1,121 horsepower, but what if?

Dodge's slow rollout of the upcoming Demon continues, and with it comes endless speculation about what it all means. Every video, every image, and every press release contains some clue that points towards the Demon's final specs. We don't think any of it is random or arbitrary. This week cryptic image, a small plate with a name and two numbers, shows us a little more than last week's license plate. Unfortunately, Dodge will neither confirm or deny anything, meaning we have no way of knowing which rabbit hole to go down. Don't expect to see official horsepower, a quarter-mile time, or an MSRP until the New York Auto Show. The plate is attached to the crate of goodies that comes along with every Dodge Demon. This particular one is labeled with three things: Tom Coddington, serial number 0757, and VIN 001121. The name is simple enough. According to Hot Rod, Coddington was one of the original Ramchargers, a group of engineers in the early 1960s that helped Dodge get involved in drag racing. He was a fuel system specialist, motor consultant, and a rotating garage manager. All of that could be clues. While a name is easy enough to Google, the two numbers can't be broken down so easily. The crazier theory is that the car makes 1,121 horsepower and will do the quarter-mile in 7.57 seconds. Frankly, those numbers are about as likely as the Demon actually being powered by a Rolls-Royce turbofan engine from a Boeing 757 or packing a carburetor with 1,121 CFM. The Demon is going to be street legal, and the costs associated with making a 1,121-hp car meet emissions standards alone are assuredly astronomical. As our friends from Road & Track pointed out, the more likely theory is that 757 is actually the horsepower rating. This seems totally plausible, but it means we still don't know what 1,121 means. Surely it's not a drag strip time, as the standard Hellcat will do 1/4 mile in 11.2 seconds. Like before, if you have any ideas, post them in the comments. Until April, we'll keep trying to solve Dodge's demonic puzzle. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: Road & Track, Hot RodImage Credit: FCA New York Auto Show Dodge Coupe Performance dodge demon dodge hellcat