[Analysts said Tuesday that the UAW's decision to offer concessions before its contracts with U.S. automakers expire in 2007 shows the gravity of the automakers' financial situation. GM lost more than $3 billion in the first nine months of this year, and Ford is expected to announce a third-quarter loss on Thursday.] Years from now, October 2005 may be looked upon as the month when the relationship between the UAW and the U.S. auto industry began a restructuring, ... This landmark deal may mark a more pragmatic and realistic UAW.
— Himanshu Patel
Decision