Hollywood: The Real Tinsel

In Hollywood, institutions do not crumble; they deflate. On New Year's Eve, a loud whistling sigh will develop at Prince Michael Romanoff's fabled restaurant as it sags into extinction. After 23 years in business, the instant prince this week held a command cocktail party in order to tell selected courtiers that he is through.

Perhaps the trouble with Romanoff's today is that its proprietor has gone straight. Hollywood accepted him in the first place because an actor of Romanoff's caliber could not go unrewarded in a city of actors. "Strip away the phony tinsel of Hollywood and...