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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.

Lincoln unveils its Black Label Collection at Pebble Beach

With the posh surroundings of Monterey, CA during the Pebble Beach week as a backdrop, Lincoln has unveiled is new personalization and luxury service brand, called Lincoln Black Label. Following in the footsteps of programs like BMW Individual, Range Rover Autobiography, and many more, Black Label is strategic strike, aimed at upping Lincoln's brand cachet while luring new customers into the fold. Speaking about this at the Black Label's introduction in California Thursday, Jim Farley, Ford's executive vice president of Global Marketing, Sales and Service and Lincoln, told members of the media that "At Lincoln, our flagship is, you get to choose. That's our flagship."
While Black Label customers will benefit from concierge-like service from their dealers - both during the sale process and throughout ownership - the focus of the introduction is strongly focused on interior design.
Lincoln chose its current MKZ sedan and its MKC Concept crossover (seen in the inset image) as the debutants for Black Label treatment for good reason: the well-received MKC points the way forward for Lincoln styling as a whole, and the MKZ will be the first production vehicle to receive the option of the high-zoot interior design. We're told that eventually, Black Label treatment will be available for the full Lincoln lineup, but the MKZ will be the initial recipient, and not until late in 2014 according to the company's current projections.

2024 Lincoln Navigator won't offer rear-wheel drive

Another Lincoln rear-wheel-drive trim bites the dust, following the course of the 2024 Lincoln Nautilus. When Cars Direct looked over an order guide for the 2024 Lincoln Navigator, the outlet discovered the omission of an RWD variant. The site inquired with Lincoln about the absence, anf the automaker responded, "24MY Navigator will be exclusively available as a 4x4." The relevant news for consumer wallets is that the change automatically raises the Navigator's base price by $3,000, the cost of adding four-wheel drive to the two trims that offer it, entry-level Premiere (currently called the Standard trim) and Reserve. The good news is that the order guide contained price data for the 2024 SUV, with Cars Direct saying the base Navigator MSRP is otherwise only going up $40. Early MSRP data for the 2024 model after the $1,895 destination charge, and the differences from 2023, shows: Premiere: $84,660 ($3,040) Reserve: $97,220 ($3,390)  Black Label: $112,646 ($1,495) Among the competitive set, the all-wheel drive 2024 Cadillac Escalade in base Luxury trim starts at $85,690, $1,030 more than the 2024 Navigator. The Cadillac's price gets pushed beyond the Navigator's by the $1,500 charge for three years of OnStar and Connected Services. Cadillac doesn't include this in the MSRP, instead listing the line in the Options section of the Summary page on the configurator; however, the "option" can't be removed. The 2023 Jeep Wagoneer Series III 4x4 — the top trim — starts at $77,200, the base trim of the 2023 Jeep Grand Wagoneer 4x4 starts at $92,945. The 2023 Mercedes-Benz GLS 450 starts at $82,950, the BMW X7 xDrive40i starts at $82,895.   According to Ford Authority, Lincoln's leaving the 2024 Navigator pretty much alone while the automaker prepares a refreshed 2025 model. For next year, Flight Blue returns to the color palette for the Standard and Reserve trims, displacing Ocean Blue. The most recent 2025 Navigator spy shots haven't revealed much of note, but it's clear it will carry design influences from the new Nautilus.