Error Message Adding Media and No Playback

I took video on my digital camera.  I went to Add Media clicked on the AVCHD file and hit import.

While there are some error messages about certain files (Thumb.TID and others like it), It seems to import the file and put it into the timeline just fine.  However, when I click on the play button, nothing happens. This file works fine in iMovie.  Why can't Premiere play it?

Please help!