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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.

Dodge Durango SRT Pursuit packs the 797-horsepower Hellcat Redeye engine

When the Jeep Grand Cherokee SRT Trackhawk launched we were stunned that it featured both the 707-horsepower Hellcat engine and all-wheel drive. But SRT has one-upped itself with a custom Durango for the One Lap of America motorsports event. It's called the Dodge Durango SRT Pursuit — nicknamed "Speed Trap" — and it has the 797-horsepower Hellcat Redeye engine, and it still has all-wheel drive! Besides the 90-horsepower advantage over the stock Trackhawk, the Durango SRT Pursuit race SUV gets improved handling via concept lowering springs and 11-inch wide wheels with 305-mm wide tires that are shared with the Challenger Hellcat Widebody. It has improved stopping ability from 15.75-inch brake rotors up front with 6-piston calipers, and 13.78-inch rotors with four-piston calipers. This is the same kind of setup as the Trackhawk uses. Oddly enough, Dodge left the factory heated and cooled front seats, but removed the two rear rows of seats for weight savings. The Durango also gets a roll cage and racing harness. The finishing touches include a cat-back exhaust and the low-profile police light bar and paint scheme. Now before you ask, there don't appear to be plans to put a Redeye-powered Durango into production. With that being said, the company clearly has the capability to mate that engine to an all-wheel-drive system, and it would be hard to imagine the company not capitalizing on that. Even if the powertrain didn't make it to a Durango, it would seem like a great complement to the existing Grand Cherokee Trackhawk, or even an updated version of it. Hint, hint, wink, wink, FCA. Related Video:

These cars are headed to the Great Crusher In The Sky

It happens every year. We bid adieu to some cars and trucks that will be missed, and say good riddance to others wondering how they stayed around so long. Whether they're being killed off for slow sales or due to a new product coming along to replace them, the list of vehicles being discontinued after 2012 is surprisingly long and diverse.
CNN Money has compiled a list of departing vehicles, to which we've added a few more of our own. In the slow sales column, cars like the Lexus HS 250h, Mercedes-Benz R-Class and the full Maybach lineup appear, while the Ford Escape Hybrid, Mazda CX-7 and Hyundai Veracruz are all having their gaps filled with more modern and more fuel-efficient alternatives. Obvious exceptions to the rule include models that still sell in decent numbers like the Jeep Liberty and the Chrysler Town & Country (which will eventually be replaced by a crossover-like vehicle).
Check out our gallery of discontinued cars above, then scroll down for more information.