Me and my friend are getting a small recording studio type thing going finally, and I just have a quick question We're getting a couple of these mics ( http://www.guitarcenter.com/Nady-CM-88-Condenser-Microphone-277048-i1127109.gc ) And I what I want to know is, what exactly does "phantom power" mean? I know its wireless..or at least I think it is, my main question is, how will it work with a mixer and such? Does it come with something that plugs into the mixer that's basically a signal receiver, or what?
But...why would you bake a cake in the woods? No one bakes a cake in the woods! :O

Phantom Power is something that comes with good mixing desks. Becuse the microphones are condensered microphones they need more power. Therefore alot of mixing desk have 'phantom power' built in. some microphones can also be powered using a battery of some sort or other power source.

It does NOT mean it's wireless, you will need XLR cables to use them.
Professional Mixing available at request.

Everton FC
no its not wireless. condenser mics have to be powered, i.e. you cant just plug them into an amp and they work. you have to have a mixer/ interface that has phantom power to power the mic.
Tweak's Guide, in my sig, read though it.
Also see my recording videos here at UG also in my sig.

Don't use a mixer to record, its almost pointless these days with the low price of interfaces...
Also phantom power is power for condenser mics. That mic is NOT wireless, you need to connect it with XLR cable.

Lastly, I suggest using higher end mics...something at least $100 as lower end mics sound like crud and normally break up at higher volumes easily making them useless.
Condenser mics need phantom power to supply a constant charge between the two plates and secondly to amplify the small changes in voltage between the plates caused by sonic vibrations.

But you can get condenser mics which take a battery so you don't need phantom power, like the AKG C1000