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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.

2017 Jeep Grand Cherokee spied looking refreshed

Jeep is preparing another facelift for the Grand Cherokee. Spied here undergoing testing, the updates to the upscale SUV look like they'll be fairly limited in scope. The current WK2-generation Jeep Grand Cherokee was introduced in 2010 as a 2011 model, replacing the round-eyed WK model that had been around since 2005. It underwent a mild update last year and is now gearing up for another round. This refresh appears to have a new front fascia with wider-spaced grille slats, and though hidden from view, will likely incorporate a restyled bumper with new fog lights. Expect some revisions inside the cabin to accompany the new face, and some updated engines, too. The current base model's 3.6-liter Pentastar V6 is anticipated to offer more power and get better fuel economy, plus offer flex-fuel capability. Of course, the 5.7-liter Hemi V8 will also likely be offered, and if we're lucky, an even more powerful SRT performance model, too. The updated JGC is expected to arrive in the first quarter of the new year. Jeep will be marking its 75th anniversary then, so expect some special editions of this and other models in the portfolio to arrive in true Jeep style. In the meantime, you can check out the spy shots in the gallery above. Related Video:

2019 Jeep Cherokee finally reveals its all-new nose

We've known for a while that the refreshed Jeep Cherokee was going under the knife in order to ditch its controversial face. While the crossover's looks have grown over time, it was still a little too weird and awkward for some buyers. Now, thanks to our trusty spy photographers, we have a really good look at the Cherokee's new mug. Surprise! It looks like every other product in Jeep's lineup. The current model has a split lighting setup that places the main headlights down low, almost below the grille. The turn signals/parking lights are way up high, nearly on top of the fender. This new model has those two meet in the middle. The shape is generally what you would find on both the new Compass and Jeep Grand Cherokee. It's handsome, even if it does lose a bit of character. The rear, too, has been changed. The license plate moves up and into the tailgate, giving it a more muscular, less flabby look. The smaller rear reflectors have been moved upward. The taillights look different, but it's hard to say if those are just temporary units. Either way, expect a new design that once again cribs from the 2017 Jeep Compass. Since this is a refresh, don't expect to wait too much longer until we see the new model's debut. We could see it as soon as the Detroit motor show next month. Expect current powertrains to carry over with a slight boost in fuel economy. Related Video: Featured Gallery 2019 Jeep Cherokee Trailhawk spy shots View 14 Photos Image Credit: Spied Bilde Spy Photos Jeep Crossover SUV Off-Road Vehicles