As the expiration date for IATSE's contracts with the studios looms closer, negotiations are still ongoing with no deal in sight. Despite reaching consensus on several issues, economic concerns such as wage increases and benefits remain at the forefront of discussions. The possibility of simultaneous bargaining with Teamsters Local 399 adds another layer of complexity to the situation. The reluctance to extend the contracts past the deadline signals a sense of urgency from IATSE. However, with the industry already facing challenges due to the pandemic and strikes, the threat of another strike looms large. Both sides acknowledge the economic impact such a strike would have and are striving to find a solution that benefits their members. Negotiations are expected to continue down to the wire, with a focus on reaching a "bulletproof" contract that can be ratified by members. Senior guild officials anticipate tough negotiations ahead as other unions prepare to enter talks with the studios.