Carpenter's followup to Halloween (which includes Jamie Lee Curtis & Nancy Loomis in its fine cast) is a nice, spooky ghost story involving the various residents of a small coastal town who realize the supernatural is in their midst on the eve of their town's centennial. There are several different character threads simultaneously running throughout the film which nicely come together at the end (Adrienne Barbeau, sexy as ever, plays a pivotal role in bringing things together).
Carpenter's music here is as memorable as it was in Halloween.
Small complaint: there are plot holes which come up if you look at the story too closely (do these ghosts want blood or money?).
Fortunately, the film is still enjoyable and spooky enough to let these things pass.