1999 Lincoln Town Car Executive Limousine 10 Passenger on 2040-cars

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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.

Junkyard Gem: 1972 Lincoln Continental Mark IV

For most of the period from the middle 1950s through the late 1990s, the Lincoln Marks were the most expensive cars Americans could buy from the Ford Motor Company. During the 1970s, the Mark III, Mark IV, and Mark V personal luxury coupes were built on the same chassis as the then-massive Thunderbird, with curb weights hovering around 5,000 pounds. Here's a 1972 Mark IV, from the year when engine power really started its Malaise Era fall off a cliff, photographed in a Denver-area self-service yard. The list price on this car started at $8,640, which amounts to something like $61,445 in 2022 bucks. That was quite a bit less than the $10,634 Mercedes-Benz 280 SEL 4.5, though the Benz had the more powerful V8 engine. Power ratings had just gone to net rather than gross numbers, so this massive 460-cubic-inch (7.5-liter) V8 was rated at just 224 horsepower (ever-stricter emission rules knocked actual power down as well). At least the torque was still pretty good, at 342 pound-feet. Runs on regular gas! This car clearly spent quite a while, probably at least a couple of decades, sitting outdoors in the harsh Colorado climate. The seat upholstery is deeply irradiated. The padded vinyl roof didn't fare well beneath the sun. Someone has torn apart the dash, but you can still see the classy Cartier clock hiding in the wreckage. There's some rust, enough to scare off anyone who might have been interested in performing a restoration. The Continental Mark IV's main rival was the Cadillac Eldorado, which was slightly smaller and (marginally) less packed with bling. The '72 Imperial LeBaron was cheaper and boasted one more horsepower than the Mark IV, but seemed stodgy next to the devil-may-care Lincoln. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. More than 8,000 owners of that luxury car switched to Continental for '71.

Lincoln to get high-end Harman Revel audio in 2015

"They've never been in autos before, and this is going to be an absolute point of differentiation for us." – Matt VanDyke Lincoln executive Matt VanDyke admits he was "moderately interested" when he heard his brand was considering a partnership with a high-end speaker company. Then he listened to the silky sound they made. "I sat there and I was blown away," he said. That may be overselling the speakers, but they do sound good – we know, we've checked 'em out. Lincoln is betting subtle enhancements – like Harman's Revel audio systems – will help the historic automotive brand appeal to a new generation of buyers. The companies announced a 10-year deal on Wednesday to place Revel speakers in Lincoln cars and trucks beginning in 2015 models. Terms were not disclosed. Though Revel is a new name, Harman has long offered a wide array of car under other brands, including Harman Kardon, Infinity and Lexicon. The partnership launches with the next-generation MKX crossover (concept version shown above), which arrives in showrooms in 2015, and the speakers will be available on other Lincoln models, too. Revel is Harman's top-of-the-line brand that's marketed to audiophiles, and its home systems can easily cost several thousand dollars or more. In Lincolns, passengers will be able to tune their Revel system to three settings: normal stereo sound; "audience," which creates concert-like acoustics; and "on-stage," which is designed to make passengers feel like they're standing among the band. Revel and Lincoln designers also collaborated on the style of the speaker grilles to integrate them into the vehicles, and the uplevel Revel system, called Ultima, will use aluminum covers. "They've never been in autos before, and this is going to be an absolute point of differentiation for us," said VanDyke, Lincoln's global director. Though Revel is a new name to the auto sector, Harman has long offered a wide array of in-car audio and infotainment systems under other brands, including Harman Kardon, Infinity and Lexicon. The Revel partnership is part of Lincoln's efforts to elevate its image and make the brand more relevant to new and younger customers. Lincoln's Black Label line, a customization and service program, will launch at 32 dealerships in six states this year, before expanding nationwide in late 2015. Additionally, Lincoln signed Oscar-winner Matthew McConaughey to star in its advertisements.