A successful producer with a series of box office hits to his credit, Peter Dragon is used to having things his way in the dog eat dog world of Hollywood. As a result, everyone from high-powered studio executives to actors and writers must bow before him as they fight for a piece of his projects. However, his latest film, Slow Torture, is headed for a disastrous opening and Peter knows it. And to make matters worse, he soon discovers that his head of production, Stuart Glazer, has mistakenly paid $250,000 for screenwriter Adam Rifkin’s latest script.
As he nervously makes his way to the Slow Torture premiere with Lonnie, his absent-minded uncle who serves as both a bodyguard and chauffeur, Peter has an accident with a prostitute. Worried about being sued because of the mishap, he invites her to the premiere, where he discovers that she’s Wendy Ward, a former childhood television star whose career was cut short by drugs. Meanwhile, in the wake of Slow Torture’s disastrous opening, Peter’s lucrative deal for its sequel is threatened.
While preparing for a party at the home of Bob Gianopolis, the studio chief that controls the purse strings of the sequel, Peter turns to Wendy, the only person not blinded by his power. Asking Wendy to review some scripts in hopes of identifying another potential project, Peter then squares off with Bob. And though Peter has done his best to prepare his argument, Bob pulls the plug on Slow Torture’s sequel. Finally, left without a blockbuster summer film, Peter is surprised when Wendy recommends Adam’s script.