In 2007, GE Capital Rail Services agreed to a $1.2 billion contract for building over 10,000 rail cars: as a result of the general economic recession initiated by the 2000s financial crisis, GE attempted to alter the terms of the contract which represented 84 percent of Greenbrier's order book; any reduction in the order volume was expected to cause job and revenue losses in addition to those already caused by the recession. The situation led to members of the Greenbrier board being openly critical of their client GE. On 15 December 2009, GE and Greenbrier reached a modified contract agreement in which Greenbrier would manufacturer up to 6000 units for GE. As terms of the contract Greenbrier gained the right of first refusal to manufacture any GE railcar order placed up to December 2018, and a similar right to any vehicle refurbishment up to 2015. Greenbrier also obtained maintenance co-partner agreement for GE's rail rolling stock over a five-year period. The resultant contract gave Greenbrier an order book of at least 4,900 units valued at $430 million plus an option for a further 2,200 vehicles. The reduced contract still represented approximately 40 percent of the North American freight car industry backlog.