Spec #5 is, for better or worse, done. I've sent it to a few people for sanity-check feedback, to make sure I didn't miss anything blindingly obvious. Once I deal with that feedback, it's off to prodcos and agents, and into the hands of the very few contacts I have in the industry. The title is WAR, INCORPORATED. Here's a (not necessarily final) logline.
Corporations have become independent city-states, with their own laws and militaries. "Hostile takeover" doesn't just mean stock trades and layoffs; it can also mean invasion by force. When the militaristic Global Defense Manufacturing attempts to conquer the more civilized Henckel and Sons, a small group of employees fights back, trying to stop GDM before it can tear their community apart.
I'm moving on to another spec, which is quite definitely not in the action genre. It's comedy-fantasy (think LIAR, LIAR or GROUNDHOG DAY, may the fates let me write something half so good).