The tentative labor contract agreed to by General Motors and the United Autoworkers union, just two days after the union leadership had issued a strike notice, is all over the news today. There's plenty of reporting on the deal itself, and on the implications for Ford and Chrysler, who may be expected to settle similar terms with the union.

The Wall Street Journal's comprehensive summary is very good on the details, but it's particularly good at looking forward. They offer a clear explanation of why this contract may change the auto industry, and the U.S. economy, in fundamental ways: it may dismantle "the industrialized aristocracy of blue-collar workers whose pay and benefits set the standard for the American middle class." Is that too broad? Too harsh? I don't think so.

A big problem for the domestic auto industry is that its wages/benefits structure no longer lines up favorably with the global industry standard. But, a big problem for all of us is that the auto industry's compensation doesn't even line up favorably with the most of the U.S. economy.

It's well understood that the burgeoning numbers of retirees represent a serious structural problem for the domestic economy. But, citizens who are not nearing retirement generally aren't bound up in the myths of class separation — an attitude that's obvious among the UAW members who argued before and during the strike that they'd already conceded too much to the automakers. If those tensions can be overcome while the Big Three restructure, the auto industry rebound may be greater than even the most optimistic forecasts.

But these are details that will only be revealed in the months or years ahead. What ought to be clear now — but, strangely, is nowhere to be found in today's news — is any insight as to why the strike ended in the middle of the night following the first full day.

Who caved? What was learned in one day that wasn't known previously? How does the tentative deal differ from the one that was rejected Sunday night? Knowing these things might help us understand how well the new contract may be received.