I think this case is, in fact, a watershed. I think what it does is -- in the most dramatic way we've seen to date -- it introduces the wages of the global economy into Main Street in Michigan, Ohio and elsewhere,
What's new about the global economy is First World productivity combined with Third World wages. That can create some real downward pressure on high-wage countries.
The union was caught in a global hurricane, and they managed to come out of it with minimal structural damage. They preserved key principles; they gave up some money.
The global economy has become a blast furnace that seeks to eliminate many of the gains that steelworkers have won over the years.
You've got the pressures of the global economy, fierce competition in deregulated industries like airlines and powerful anti-union employers like Wal-Mart.