BUSINESS
03/28/2008 02:45 am ET Updated May 25, 2011

WGA Strike Losses Top $1.5 Billion

Now that the Directors Guild of America has reached an accord with Hollywood studios, the striking writers have returned to the bargaining table in the hopes of pounding out an agreement with the studios.

A settlement won't come a moment too soon for those affected by the walkout.

"The writers' strike is having a much larger economic impact on L.A. than its direct impact on writers and studios," said former Secretary of Labor Robert Reich. "The L.A. economy revolves around entertainment, and entertainment depends to a large extent on entertaining scripts. Without the latter, the entire economy becomes more fragile."

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