If it's crap ... We'll tell you
Look. We all know this whole thing sucks. If there's a peerson out there who DOESN'T want PJ back in the saddle to make The Hobbit, then I want to meet him - I've got a nice shiny boot to put up his ass before I break my foot off in it. Pj's version (or two parter =O!!!) would kick ass.
Then why isn't it happening? EW has an incredible story putting together all the pieces for those of you who haven't been following all that closely.
But the long and the short of it is this: New Line screwed PJ out of MILLIONS of dollars, but won't open the books for accounting on the matter until PJ signs on the dotted line for The Hobbit. PJ told them to go #$*% themselves with a rusty beer can. Thus...no Hobbit.
But read the story. they don't mention anything about a Beer can, but it's entertaining none the less.