This piece from the Calgary Herald (reg. required) lays it out more clearly than just about anything I've read over the course of the lockout. Here's the crux of the open letter to Bob:

What should be concerning the point man for the players at this very delicate point in time, instead of digging his heels ever deeper into the quicksand, is resuming negotiations, working past the semantics and hammering out the most advantageous deal possible under the circumstances for his clients.
In their best interests, Goodenow should put the personality conflict aside and be at the table right now, negotiating to bump a $38-million cap up to, say, $45 million.
Or proposing a sliding cap starting at, for argument's sake, $50 million in the first year and scaling down over a period of seasons. That way, current players still take a bigger share of the pie short-term, before the hellish economic squeeze of earning, say, $1.3 million instead of $1.8 million begins to become a crippling hardship.
They've already dithered away a small fortune by layman standards.
Are they prepared to sacrifice a second fortune, too?