Honestly, I can't think of something better to happen to that project.
When you read an article with the screenwriter and it's obvious the guy either did not, in fact, read the book like he said or did not, in fact, understand it, it's pretty clear that it all should simply stop.
And when I say "did not understand it," I don't mean that the philosophy of the book escaped him. I mean that he, trying to avoid spoilers although the speech is pretty famous in its own right, stated that the speech that happens towards the end of the book has the exact opposite effect on "The Bad Guys" than it actually does. That's right: he failed to grasp the actual ending of the book as it was flat out written, screw all the philosophy.
Which means the actual end of the book, which seems more Hollywoody than anything else before it, would get completely passed up.
There is no way you can make Atlas Shrugged, the way it should be made, into a single film. It needs to be a Deadwood-esque maxi-series with a definite end. Yes, there's a DreamCast in the works for that.