Considering what's just happened in Japan and the surrounding regions, there probably couldn't be a much worse time than now to make a movie about a terrible disaster rising up from the Pacific to assault the people of Nippon. Unfortunately, it sounds like that's exactly what Guillermo del Toro seems to be doing.
Following Tuesday's news that del Toro would--like all of us have--abandon his dream job to instead make a little scratch directing Pacific Rim for Legendary Pictures, details have now emerged on the project, and they are both fairly awesome and very ill-timed. According to News in Film, the movie takes place in a very near future in which Godzilla-esque monsters have been rising from the Pacific with increasingly regularity, destroying cities (hence the whole uncomfortably ill-timed thing) and leading to the creation of giant mechas (called "Jaegers", because they were apparently named by shot-taking frat boys) to combat the kaiju menace.
The full article has more specifics if you want to spoiler some of it for yourself, but suffice to say, this movie could be very cool if it does not immediately evoke images of real-like tsunamis ravaging coastlines and killing countless innocents. It's probably going to do that, though, so maybe it's time for a Plan C, Guillermo.