People: Jan. 24, 1983

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In the film Frances, a studio mogul leans toward Jessica Lange, 33, playing the troubled actress Frances Farmer, and proffers a word of advice: "You're an actress, and your job is to act, tootsie." The studio boss knew his stuff. In Tootsie, Lange floored almost everyone with her smoky vulnerability. And so, with two of the most highly praised performances of the past year, she is an odds-on favorite to garner two Academy Award nominations next month, the first double designate in four decades. Back on the arm of her longtime beau Mikhail Baryshnikov, 34, Lange finds that her most challenging current role is warding off rumors that she has become a temperamental star. "I wish all the people so up in arms and offended by my behavior had met Frances," says Lange. "She tore people to pieces. I'm like a lamb compared with her."

Bubbling over with enough "relationship" and "starting over" clichés to fill a week of Phil Donahue shows, New York Yankees Owner George Steinbrenner, 52, last week announced "a new era for the third time." And with that flourish of Rotary Club optimism, he introduced as the Yankees' new manager Billy Martin, 54. "I'll be handling all the trades," said Martin stagily, playing off the pair's old Lite beer ad. "What do you mean?" Steinbrenner blustered. "I'm handling all the trades . . . And if you don't like it, you're fired." The canned comeback from Martin, whom Steinbrenner has dumped twice before: "You haven't even hired me yet." The born-again manager has a reported fiveyear, $2.5 million contract, but if he cannot inject some pennant fever into last year's fifth-place finishers, George no doubt will bounce Billy ball once more.

A low-budget 1977 sleeper that was based on a magazine article, Saturday Night Fever took in some $145 million at the box office. For his long-planned sequel, Producer Robert Stigwood, 48, persuaded John Travolta, 28, to repeat his role as Tony Manero in Staying Alive. The star agreed, but on the condition that he be allowed to map out the film's story line. Not missing a trick, Stigwood also hired Sylvester Stallone, 36, to direct the film. As Travolta and Stallone have planned it, Staying Alive will move Tony up six years and into Manhattan, where he lands a Broadway chorus job and—are you ready?—a chance at the lead. Travolta also graduates from white acetate suits to warmup outfits that show off his director's influence better. Six days a week for four months prior to filming, he followed the rigorous training schedule that Stallone used to hone his body for Rocky III.