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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.

2022 Lincoln Nautilus Review | What's new, price, mpg, photos

The 2022 Lincoln Nautilus is the middle child of Lincoln’s excellent crossover and SUV lineup. It fills the space between the three-row Aviator and compact Corsair, competing with other two-row midsize SUVs. Up until a year ago, it was also the odd one out in that it lacked Lincoln's mid-century-modern-inspired interior design that's wowed since it originally showed up in the Navigator. That changed last year as the Nautilus finally got its makeover and it instantly made the Nautilus a more viable option in a stacked class of excellent choices from BMW, Mercedes, Lexus and Volvo, just to name a few. And if youÂ’re only considering American options, it walks all over CadillacÂ’s XT5 in both luxury and drive experience. DonÂ’t expect it to handle or drive like the German luxury options, though. Lincoln knows its target market is much more concerned with things like ride quality than they are skid pad ratings. WeÂ’ll give them credit for not trying to make this crossover something it shouldnÂ’t and can't be, too. While the twin-turbo V6 will still hustle you down a road, the isolated interior and eye-catching technology makes the argument for why you should come home with a Nautilus. Should you? It's hard to say it's a better SUV than a BMW X5 or Mercedes GLE, but then it's also priced lower than those and other European contemporaries, which at least makes up for its various deficiencies. Interior & Technology  |  Passenger & Cargo Space  |  Performance & Fuel Economy What it's like to drive  |  Pricing & Features  |  Crash Ratings & Safety Features   WhatÂ’s new for 2022? Very few things are changing for the 2022 Nautilus, since the model was treated to a fairly notable refresh for 2021. That said, Lincoln is adding two new colors: Bronze Smoke Metallic and Gilded Green Metallic. ItÂ’s also gaining another Black Label interior option with Flight (dark tan and black combo) joining the Alpine White that was the sole Black Label interior for 2021. Beyond the colors, Lincoln made some minor packaging changes. It's also important to note that this could be the final year for the Nautilus, as Lincoln is reportedly turning its attention to other crossover concepts.  2021 Lincoln Nautilus Reserve View 24 Photos WhatÂ’s the Nautilus interior and in-car technology like?

Lincoln cancels plan to build electric vehicle on Rivian's platform

Just three months ago, Lincoln announced a project to build a vehicle atop Rivian’s skateboard platform. Today, itÂ’s canceling those plans. Automotive News originally reported the news, and a Lincoln spokesperson confirmed it to us. Lincoln reportedly informed dealers of its decision to cancel the electric project earlier today, citing the “current environment.” Language like that these days in the automotive industry refers to the coronavirus pandemic and flailing vehicle sales. Originally, Lincoln announced that this model would launch in 2022. It was to be built using the same platform underpinning the Rivian R1S and R1T. The partnership with Rivian was so close that this Lincoln was going to be built at RivianÂ’s Normal, IL assembly plant. Production of the plant itself was halted recently in the face of the coronavirus, which is bad news for any products meant to be built there in the near future. Lincoln never announced that this vehicle was going to be an SUV, but that was the likely result of it using RivianÂ’s platform designed for rugged and large utility vehicles. However, Lincoln says it still has plans to build an electric vehicle. The companyÂ’s statement follows: “Given the current environment, Lincoln and Rivian have decided not to pursue the development of a fully electric vehicle based on RivianÂ’s skateboard platform. Our strategic commitment to Lincoln, Rivian and electrification remains unchanged and LincolnÂ’s future plans will include an all-electric vehicle consistent with its Quiet Flight DNA.” Lincoln hasnÂ’t specified any product details or timing for when this mystery electric vehicle will launch. It could be based off the Mustang Mach-E platform, or it could be a larger vehicle based off the future electric F-150 platform. The former could launch sooner, while the latter is likely a little ways out still. Lincoln doesnÂ’t want this news to be read as a loosening of ties between itself and Rivian either. “Our partnership with Rivian is strong,” LincolnÂ’s statement reads. “While the Lincoln electric vehicle did not turn out to be the right opportunity, we continue to work closely together with Rivian. Our strategic commitment remains unchanged and we will continue to work with Rivian on an alternative vehicle based on RivianÂ’s skateboard platform.” As of now, Lincoln hasnÂ’t revealed exactly what didnÂ’t line up to make the planned collaboration work.