Negotiations centered around proposals from Sen. Bob Corker, R-Tenn., that would have set dates in 2009 by which the automakers receiving the loans had to reach cost cutting agreements with unions and creditors or be forced into bankruptcy. Corker said the two sides were very close to a deal and stumbled on the deadline for the union to agree to the reduced pay.

"We are about three words away from a deal," Corker said.

http://money.cnn.com/2008/12/11/news...ion=2008121208

It seems that they just lost their best deal and they appear to be unrealistic = meaning they may have lost the PR battle with the public.