It appears that the Transport Workers Union has decided to play hardball...
According to gossip around the depots, TWU 234 reportedly has voted to authorize a strike, should it be neccesary. This can be taken as one of two things: (1) It's just a formality, as the union may prepare to extend the negotations further, but probably not for a year as had been previously discussed; or (2) The breakdown of negotiations on Friday afternoon had more of an impact than anyone could've anticipated.
Another rumor - this one from a driver out of the Northeast - is that the new CBA - if and when it's ratified by both sides - could be a four-year pact. SEPTA had initially proposed a five-year contract, but the union initially objected before both sides compromised on four years.
Whatever the outcome, it looks as though everyone - including yours truly - will be dusting off all of the strike contingency plans from 1998 and 2001 (even though they weren't needed in '01) as a strike seems to be looming on the horizon.