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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.

BMW M4 versus Audi RS5 | Autoblog Podcast #546

On this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Associate Editor Reese Counts. We debate the merits of the BMW M4 and the new Audi RS5 and our hopes for the refreshed Mercedes-AMG C63. We also discuss the state of Cadillac, the future of the Ford Fusion and the rumored Mercedes-AMG competitor to the Porsche 718 Boxster and Cayman. Autoblog Podcast #546 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown 2018 BMW M4 versus 2018 Audi RS5 Cadillac and Mercedes-AMG sport coupes The state of the luxury car industry The future of the Ford Fusion Replacement for the Mercedes-Benz SLC Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: Design/Style Podcasts Audi BMW Cadillac Ford Lexus Lincoln Mercedes-Benz Convertible Coupe Crossover SUV Luxury Performance bmw m4 mercedes-amg c63

Amazon looking to bring Kindle to your next car?

Maybe so. The online retailer and digital media monolith recently announced the Amazon Cloud Player, an application for Ford Sync that allows users to stream media from their Amazon Cloud account directly to a Ford vehicle. This foray into automotive technology got the minds at Gigaom.com thinking about what could be next for Amazon. As Kevin Fitchard writes, the logical step is to make audio versions of your Kindle library selections available in your car. As he points out, Amazon has already laid the groundwork for such a move.
Amazon pulled the sheets back on Whispersync for Voice last year. The tech pairs ebooks with an Audible book for a small extra fee, allowing users to either read along with a narrator or switch between audio and text versions on command. Fitchard says it wouldn't be some great leap to apply the same principles to a car, where voice recognition software would allow users to pause or select chapters without ever taking their eyes off of the road.
It all sounds just fine to us, but Amazon hasn't said a thing about such a move. Still, we wouldn't be surprised to see the company come down this road in the near future just the same.