A number of graph partitioning algorithms are based on the concept of modularity. In particular Clauset, Newman and Moore (CNM) have developed a greedy agglomerative graph partitioning algorithm that scales well but is known to have several flaws. Fortunato and Barthelemy have performed a rigorous analysis of the CNM algorithm that elucidates it problems. More recently Berry, Hendrickson, Laviolette, and Phillips have derived a weighted variant of CNM that performs much better in practice. This talk will focus on a different version of the parent CNM algorithm based on a statistical re-interpretation of CNM that also addresses some of the issues with the original algorithm.