The Farrelly Bros. (remember, they had that one good movie called There's Something About Mary back in 1998?) are teaming up with National Lampoon (sadly, I believe we have to travel back into the 80s in order to dig up the last piece of quality entertainment from these folks) on a new comedy called Bag Boy.

What's essentially an attempt by National Lampoon to revitalize their brand, pic marks the first of four films annually National Lampoon plans to shovel out -- all of which will be packaged together and produced inhouse -- a rarity for the 36 year-old company. According to CEO Daniel Laikin, each flick will have a budget of around $12 million or less and they will focus on developing properties found within their magazine, which ceased production in 1992. So, not only will the comedies be bad, but they'll be based on extremely old ideas. Yay!

As far as Bag Boy goes, it appears they're taking the only funny thing about Employee of the Month and stretching it out into a feature film. That's right, pic will revolve around the world of competitive grocery bagging. And, while I don't want to depress you any further, I do have to note that the script was re-written by Mort Nathan -- yes, as in Mort "Boat Trip" Nathan. Production will begin next year, and there's currently no word on whether the Farrelly Bros. will also direct or strictly produce.