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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.

Veyron and C7 Corvette join cast of Transformers 4

Like the Fast & Furious franchise, the Michael Bay-directed series of Transformers movies has become known as much for its bad acting as its impressive lineup of cars. As filming just started for Transformers 4, Bay's website has confirmed two new cars for the next installment as well as a makeover for everyone's favorite tractor trailer hero, Optimus Prime.
Joining the cast of T4 are a "race-inspired" Chevrolet Corvette Stingray and a Bugatti Veyron Grand Sport Vitesse. While Bay's website did not supply names for either car, Bugatti is reporting on its Facebook page that the Veyron will join the Autobots. Speaking of the good guys, top Autobot Optimus Prime is getting an all-new body based on a Western Star with a gaudy appearance that was seemingly inspired by Trick My Truck - right down to the six smoke stacks and side pipes!

Chevy Bolt-based prototype may be a Buick EV for China

Late last spring, we got a look at a GM prototype that was clearly based on the Chevy Bolt EV, but with updated styling. It seemed like it could be a more crossover-styled Bolt, given the recently trademarked name of EUV. Now we get another look at the prototype, but the bodywork seems less suggestive of a Chevy, and more of a Buick. This vehicle definitely still appears to be based on the Bolt, rather than on another small GM platform. In the photos of it next to the current model, the size, wheelbase and profile are extremely similar. There are differences, though. The nose isn't as sloped or as rounded, and the rear window kicks up a little earlier. The biggest changes are in the front and rear fascias, and it's here that we see hints of Buick. There are prominent air inlets on each side of the front bumper that give the car a more aggressive look. The headlights still have a fairly rounded, organic look, but with little extensions like fangs underneath. The styled running-light section, rounded shape and the smoked lenses seem very Buick-like. The grille features a large badge that doesn't fit the shape of a bow-tie, and is more that of a round logo like Buick's. Around at the back, the full-width taillights stand out, and in the middle there is obviously a round badge, again like a Buick. The wide taillights would also be a natural evolution of Buick's current light design language that uses somewhat wide and thin lights. The rear bumper has been redesigned with new lower taillights. Now that we've established that this seems very much like a Buick, we don't think we'll see this particular version offered here with the badge. This is more likely a Buick version of the Bolt for the Chinese market, where the brand is associated with luxury and has been the spearhead for GM's electric and hybrid models. In fact, the Chevy Volt hybrid was sold there as the Buick Velite 5, which was part of a family of a electrified Velite models. This would probably also carry a Velite badge as well. While we might not see this specific Buick variant, we probably will see it offered as a Chevy in some form. With its more aggressive, crossover shape, it could be the rumored EUV model. Or it could be just a refresh of the current Bolt, since the model has been largely unchanged since its introduction for the 2017 model year. And extrapolating from this prototype, we can see how the headlights could be tweaked to tie into those air scoops as on the Suburban and Silverado.