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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.

Why Grandpa loved Lincoln: Looking back at a century of design

It’s been 100 years since Henry Ford, in the aftermath of World War I, purchased the scraps of the Lincoln Motor Company. Ford put his son Edsel in charge of the automaker, and challenged him to create a luxury car company that could rival Cadillac, Packard and Pierce-Arrow. This meant, first off, bringing actual automotive designers into the fold, building out FordÂ’s first such department. The Model T, FordÂ’s then long-in-the-tooth mainstay, was created by engineers, and looked it. “For Lincoln, the innovation and setting of new standards of modernity has always been a core of our design,” said Kemal Curic, a 20-year veteran of Ford, and global design director of Lincoln since 2014. “Since its founding purchase from Henry Leland, Lincoln was always courageous to introduce new designs.” These included concentrations on streamlining and exuberance. These focci yielded a number of vehicle designs that were influential not just for the brand, but for the industry. 1936 Lincoln Zephyr, 1939 Lincoln Presidential Limo “Some of the cars that changed America were the 1936 and ‘38 Zephyr. The ‘36 for its aerodynamic look, and the ‘38 for its patented horizontal grille,” said Lincoln archivist and historian Ted Ryan. “Also, the 1939 Zephyr Continental, developed in ‘39 as a 1940 model – later known just as the Lincoln Continental – instituted another icon that stayed in place for decades with the spare tire initially exposed, and then treated with the spare tire hump.” Both Ryan and Curic also called out a number of other inspiring Lincoln models. These included the 1955 Lincoln Futura concept – which was later turned into the Batmobile by George Barris – and the 1961 Continental, famed for its rectilinear slab sides and suicide doors, plus its role as a presidential limousine in the Kennedy era. “These cars emphasized horizontality,” Curic said. “We like to relate that to the designs of Frank Lloyd Wright in his architecture. Wright loved his Lincolns. These proportions on the exterior were always Lincoln signifiers.” 1961 Lincoln Continental, Lincoln Futura Concept Lesser known than these is an example of what, back in the day, was known as a Hybrid: a car featuring an American powerplant and European design. “IÂ’m a huge fan of the 1955 Indianapolis Concept,” Curic said, a stunning jet-like vehicle that was last up for auction by RM SothebyÂ’s in 2013.

2013-2017 Ford Explorer recalled over rear suspension issue, again

Ford is recalling about 375,000 Explorer SUV models built between 2013 and 2017 in North America to fix a potential defect in the rear suspension. In "North America states and provinces where corrosion is common," which we take to mean areas that experience harsh winters and heavily salted roads, "a fracture of the outboard section of the rear suspension toe link" is possible on affected vehicles. Ford says 350,000 of these models were sold in the United States and another 25,200 in Canada. This isn't the first time Explorers of this generation have been recalled for fractured toe links. Back in the summer of 2017, 1.2 million Explorer models were recalled over toe links that could fracture if subjected to "frequent full rear suspension articulation (jounce and rebound)." A little over a year earlier, 75,000 Explorers were recalled over, you guessed it, rear toe links that may not have been welded properly. It's not just Explorers that Ford has recalled over rear toe links. Earlier this year, the automaker issued a recall that covered nearly 230,000 Ford Flex, Taurus and Lincoln MKT models. All of these recalled vehicles ride on similar unibody underpinnings that Ford calls the D4 platform. We can't say whether these other D4-based vehicles will get another recall as the Explorer has. Ford says it is aware of as many as 13 crashes and six injuries attributable to the toe links covered under this most recent Explorer recall. Owners will need to visit their preferred dealership, which will "complete a torque inspection of the cross-axis ball joint and replace it as necessary," according to Ford. Related Video: