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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: 1982 Lincoln Continental Mark VI Bill Blass Edition

From the 1976 through 1992 model years, Lincoln sold Designer Edition members of the Mark Series personal luxury cars. At one time or another, the Givenchy, Versace, Pucci, Cartier, and Bill Blass brands partnered with Lincoln to make snazzed-up Marks IV, V, VI, and VII. I'm always on the lookout for these blinged-out land yachts as I patrol for Junkyard Gems, and I've managed to find a handful over the years. Today, we've got a tattered-but-still-glorious Bill Blass Mark VI from the waning days of the Late Disco Period. Bill Blass got his start in the United States Army, designing phony inflatable tanks to fool the Nazis prior to the D-Day invasion in World War II. After that, his company became a major player in the fashion world, and Ford put the BB anchor design on plenty of Lincoln Marks. This Bill Blass Mark VI got red body pinstripes and red decorative belting on the leather-upholstered seats. A faux-convertible "diamond grain carriage roof" went on the Designer Edition Mark VI coupes (you could buy the '82 Mark VI Pucci Edition as a sedan). This roof is on the tattered side, but you get the idea. The "wire spoke" aluminum wheels on the Designer Edition cars look much nicer than the wire-wheel-influenced hubcaps that went on lesser Mark VIs. The Mark III through Mark V were siblings of the Ford Thunderbird, but the 1980-1983 Mark VI lived on the new Panther platform and its closest relatives were the regular Continental and Town Car. Yes, this car is a not-so-distant cousin to the Crown Victoria P71 Police Interceptors that stayed in production through 2011. Under the hood, we see the good old Ford Windsor 302 engine, also known as the 5.0 V8. Power wasn't so great— 140 horsepower and 231 lb-ft— but the curb weight of the Mark VI came in at well under two tons, a 700-pound weight reduction compared to the vast Mark V. The Mark VI seems to be the forgotten Mark, overlooked between the rococo V and the speedy Fox-based VI. A digital-tuner AM/FM radio with four speakers and cassette player was heavy-duty audio stuff in 1982. A digital instrument cluster showed the world that you were ready for… the future.  This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. What's not to love about the Mark VI?

Ford fixing 130k vehicles in three recalls

Ford is issuing three new safety campaigns that cover a total of 130,801 vehicles in North America, but the company has no reports of accidents, injuries, or fires from any of these issues. The largest of these campaigns covers 128,823 examples of the 2009-2010 Ford Edge and Lincoln MKX that are currently registered or originally sold in rust-prone areas of North America, including 110,636 in the US. On these crossovers, "corrosion under the reinforcement brackets where the fuel tank is mounted" can potentially result in a fuel leak. To fix the issue, dealers will inspect the tank and will repair or replace it as necessary. The affected locations are: Connecticut, Delaware, the District of Columbia, Illinois, Indiana, Iowa, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, West Virginia, Wisconsin; and the Canadian provinces of New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Prince Edward Island, and Quebec. Ford is also recalling 1,906 North American examples of the 2016 Mustang, including 1,900 in the US, because of possible damage to some components during shipping to the factory. On the affected pony cars, "dealers will replace front and rear seat belt assemblies, rear seat buckle assemblies, and child tethers," the company says in its statement. Finally, the smallest campaign is for 72 units of the 2016 Ford E-Series cutaway and chassis cab in North America, including 65 in the US. On these, the trailer brakes don't activate when pressing the brake pedal, and dealers need to update the powertrain control module software. Related Video: FORD ISSUES TWO SAFETY RECALLS AND ONE SAFETY COMPLIANCE RECALL IN NORTH AMERICA DEARBORN, Mich., Oct. 28, 2015 – Ford Motor Company is issuing two safety recalls and one safety compliance recall in North America. Ford is not aware of any accidents, injuries or fires related to these conditions. Details are as follows: Ford Motor Company issues safety recall for certain 2009-2010 Ford Edge and Lincoln MKX vehicles in North America for potential fuel tank issue Ford Motor Company is issuing a safety recall for approximately 129,000 2009-2010 Ford Edge and Lincoln MKX vehicles in corrosion states and provinces in North America for possible corrosion under the reinforcement brackets where the fuel tank is mounted to the vehicle.