Paul Chai writes: The normally dry business of union politics turned to spectacle in New Zealand on Monday as Warner Bros. execs flew to Wellington under the threat of a canceled “Hobbit” production in hopes of gaining concessions from the industry and the Kiwi government.

A decision could come as soon as today on whether to keep production of two-picture “The Hobbit” from being moved to nearby Australia, the United Kingdom or Eastern Europe. Sources close to “Hobbit” producer/helmer Peter Jackson said Monday that finding a solution was still no better than a 50-50 proposition. Reps for Warner Bros. said they would have no comment until a decision is made. More..