Why Wall Street is Baffled by Another Writers Strike
The last two strikes -- 2007 and 1988 -- barely dented Hollywood stocks. But, that was a time before massive content spending wars punished studio budgets and paychecks for WGA members.
The pen is mightier than the sword. It may not be so stout against the stock.
Hollywood writers have gone on strike, for the third time since 1988. Seeing as stories – even bad ones – usually begin with words, having writers not working can be a real fly in the dream factory’s ointment.
In this strike, as in the previous two…