What is Michael Bay doing?

I for one really enjoyed Transformers, and look forward to the second installment, but I was browsing his IMDB.com profile today and was a little shocked. It appears that he is working on remaking The Birds, Friday the 13th, and Nightmare on Elm Street. I am sure he would have picked up Psycho too, but someone beat him too it a few years ago. All of these movies are great in their original form, but I am not looking forward to him screwing these titles up for the next generation like Rob Zombie did with Halloween. Well that is my rant.