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The Organizer will take a long time to launch the first time. This is because it is building your catalog. Let it run and do its thing and eventually it will launch -- and then it will open easily thereafter.
If you'd like to skip the Welcome Screen, you can do so by installing Ozpeter's utility. This program not only gets you around the Welcome Screen but it also ensures some annoying features turn off when you exit the program. From the FAQs to the right of this forum:
Another small trick that I use to skip the Welcome screen is by directly running the "Adobe Premiere Elements.exe" from the C:\Program Files\Adobe\Adobe Premiere Elements 8.0 directory or wherever your application may be installed.
Infact you could also create a shortcut to the above exe on your desktop or in the start menu and this would always skip the welcome screen on launch.
But once in a while i do check the welcome screen(at times it offers links to some good stuff) by clicking the "Home" icon on the right top of the app.
I tried running the PE8 Runner.exe that you suggested.
Unfortunately, it resulted in an error, saying that the system could not find the specified file: ie: 091: Run,"C:\Program files\Adobe\Adobe Premiere Elements 8.0\Adobe Premiere Elements.exe"
I would assume that the reason it can't find the Adobe files is because I am running Windows 7, 64-bit. Thus, the Adobe Premiere files would be in: the C: Program Files86\ directory, rather than in the directory shown in the above line. Do you have an email address, or link to the author of the PE8 Runner.exe program? If so, we could probably have him modify the setup file so that it would look in to the Program Files-86 directory when run on a 64 bit system.