EDITORIAL KEEP ON TRUCKIN' A HOLLYWOOD STRIKE WOULD DEVASTATE THE LOCAL ECONOMY.

WITH strike deadlines approaching, Hollywood is quickly headed toward a work stoppage that could devastate the industry and the San Fernando Valley's economy.

It's time for cool heads to prevail.

There are real differences that divide Hollywood's writers and actors from management. These are important disagreements concerning intellectual property and big bucks.

But reasonable people should be able to compromise and find common ground - before plunging the local economy into what could become a recession.

There are a lot of people who would be affected by Hollywood strikes, beyond the managers, writers and actors who - for the most part - won't starve if they go a few months without working.

The costumers, hair stylists, caterers and assistants who work at the studios can't afford that luxury.

Nor can the local businesses that depend on their patronage.

According to a Milken Center report commissioned by Mayor Richard Riordan, if writers were to strike for five months, and actors for three, the county would lose 137,700 jobs - or $7.4 billion in personal income.

The Valley, as home to Warner Bros., Universal and Disney and the largest number of people who work in the entertainment industry, would suffer the brunt of the pain.

Before going to war, both sides in Hollywood must recognize that they are playing with fire.

Strikes serve the interests of no one - not writers, actors or producers.

Their own interests extend beyond the terms being debated at the negotiating table. Their property values, the quality of public services, the stability of their communities all stand to be harmed by a work stoppage.

If there's a strike, everybody loses.