So what is CLOVERFIELD? Well, word from inside the company is that CLOVERFIELD is a giant monster movie, featuring something that's being referred to internally as "The Parasite," and we’re going to see a trailer for it very soon that’s been designed and shot even as we speak. I’m not sure if it’s going to be attached to TRANSFORMERS or if we’ll see it later in the summer, but it’s definitely coming soon. And the end of it should feature one of those iconic images that makes people talk about a trailer for months.

And what makes this different than any other giant monster movie? Well, as I understand it, most of the film is going to be shot using home video cameras, as if from the point of view of real people who are experiencing an attack on New York. It’s designed as a fairly small picture, all things considered, and right now, they’re working to make sure the script is going to deliver some wild thrills (like an earthquake that levels Manhattan or an oil tanker flipping over by the Statue of Liberty), but that it’s not suddenly going to turn into a giant $150 million movie. It’s a tricky balance, and if they pull off everything they’re trying to do, CLOVERFIELD could be something really groovy. Not a man in suit in sight.