The long-term outlook, particularly given end-market strength in the controls business, remains robust.

The market is likely to be reassured that management is now putting firmer parameters around 2006 performance.

The company's announcement that it will not provide earnings guidance going forward, however, came as more of a surprise, making it notably more difficult to isolate and gauge the impact of restructuring.

The company's specificity on 2006 cost targets ... is likely to reassure the market, and heightens our belief that the company will see a meaningful earnings rebound in 2006.

However, near-term worries on slowing diesel penetration and Western European production could weigh on the stock.

By forcing a health-care inflation cap for salaried workers, GM is bringing forth the issue of similar caps for hourly workers, which our talks with (GM) management suggest is a top priority.

That said, we continue to favor GM over Ford due to the former's more favorable 2006 product cycle and its more aggressive restructuring approach.

That said, we continue to favour GM over Ford due to the former's more favourable 2006 product cycle and its more aggressive restructuring approach.

It should not be difficult to agree on the bargaining points.

Although such a move has been rumored for some time, the speed of Dana?s demise will further dampen sentiment toward the auto industry.