When his movie "Slow Torture" fails at the box office everyone kisses his ass and tells him it was great, except for a prostitute named Wendy who accidentally got stuck in his car door and attended the premiere with him posing as a stunt woman. Then his studio accidentally buys the wrong script and Peter can't stand the writer. He spends the week with Wendy and tells her to read the scripts on his counter and to let him know which ones are good. The only good one is called "Beverly Hills Gun Club" and it's the one that the studio wrongly bought. So now Peter has to pretend to like the writer.
Peter hires Wendy as the vice president of production. When her pimp gets word of this, he goes to see Peter to talk things over, so Peter hires him as the co-executive producer of "Beverly Hills Gun Club".
Peter's boss, Bobby G. underfunds the new picture, and forces Peter to find the additional funding he needs within a week, or he loses the project. Peter and the writer, Adam, meet with prospective financiers (Bebe, Fodo, and Momo), who have some "notes" on the script.
Peter hires Cole Ricardi for the lead role in "Beverly Hills Gun Club" but then Cole confides in Peter by telling him that he's gay. He wants to come out to everyone but Peter tells him not to because it will ruin the film's intake. To try to stop him from telling his secret to anyone else Peter tells him he's also gay, which he isn't but he has sex with him to prove to him he is gay. Then Bobby G. and Momo Shabong tell Peter to fire Cole because they want a younger actor. He fires him but then Cole goes on TV and tells everyone he's gay and Peter's his lover.
Peter tries to clean up his image. Adam gets a new hotshot agent.
Peter goes in search of a new star for "Beverly Hills Gun Club" and ends up with an actor in rehab.
There's a nasty rumor circulating about Peter and a frog. He leaves Wendy for Jane but she leaves him to get back with Bobby G.
It's the first day of shooting on "Beverly Hills Gun Club" and there's a lot of problems. Peter freaks out, has a heart attack and dies in the ambulance.
Peter searches for a movie director while his daughter spends the day with him on "Take Your Daughter to Work Day."
Peter recovers from his heart attack to find his production falling apart. Titus drowns and Holden is back on drugs.
After investing most of his own money in a script he may not own, Peter needs to find a new director to complete the film.
With shooting resuming, Reagan refuses to do any nudity while Stuart wants a new job elsewhere.
To begin hyping the film, the "Enquirer" interviews Peter and he reveals all the pre-production problems encountered so far.