NOTE: Due to technical difficulties this market was re-launched on Jan. 10.
THE
MARKET: The 2007 Writers Guild of America strike started on November 5, 2007. Use the interface below to buy shares related to the potential closing date of the strike. Every future date has a dollar value, with earlier dates having lower values, and later dates having higher ones. If you believe the predicted date is too early, buying shares will move the market projection to a later date. If you believe the predicted date is too far in the future, short-selling will move the projection to an earlier date. The market will be cashed out at the dollar value corresponding to the date when the strike is resolved.
THE LOWDOWN: The “Writers’ Strike of 2007” is in fact a strike by both the Writers Guild of America East (WGAE) and the Writers Guild of America West (WGAW), two labor unions that represent film, television, and radio writers working in the United States. The strike has primarily affected television – immediately halting late-night talk shows, ending the filming of such popular shows as “Desperate Housewives” and “The Office.” Over 12,000 writers are participating in the strike against the Alliance of Motion Picture and Television Producers (AMPTP), a trade organization that represents the interests of American film and television producers. The last such strike, in 1988, lasted 22 weeks.
THE PR: The Louisville Courier-Journal gives a helpful overview of the strike, its impact, and when we can expect relief. “Both sides are getting bloodied. One estimate says a half-billion dollars has already been lost. … So far both sides are eating their losses.”