Is the movie "Super 8" a loose remake of Iron Giant?

Judging by the trailer of Super 8, the movies appear to be somehow
related, and it doesn't seem to be a coincidence. Iron Giant had
military in it that were looking for a alien, robot monster or thing,
and super 8 appears to as well. The main person is a young kid, in
both movies. In both movies there is a train. The military wants to
destroy the monster or thing. And is both movies the monster or thing
appears to be attacking the military. Oh, and both movies take place
in the past and appear to take place in a town.

Here are the trailers on Youtube from both movies

http://www.youtube.com/watch?v=FEHhJ0wJ06o

http://www.youtube.com/watch?v=iem8ONVWYPAfeature=related

Please note: I did say loosely based off, not fully...