Alternate Best Supporting Actor 1998: Mike Myers in 54

Mike Myers did not receive an Oscar nomination for portraying Steve Rubell in 54. 

54 is a mostly terrible film failing to be Boogie Nights successfully in the tale of Studio 54.
 

One major problem is our lead character Shane (Ryan Phillipe) is generic and dull, with a duller backstory, duller relationships and rather dull as portrayed. And in a way the character shows just how great Dirk Diggler conversely is, given that technically it is the same *type* of role, but is better in every possible way. Anyway, the best aspect of the film is Mike Myers as the real co-owner of the Studio 54, who is known really only as a sketch funny man, with his forays into films being as overtly comedic leads, here Myers is genuinely trying to be dramatic. And to his credit, from his first scene, where he is selecting people to enter his club, and Myers does avoid the worst possible option which is just taking his sketch sensibilities to the part, a pitfall that would've easy enough to sink into because of the overtly mannered nature of the real Rubell. Myers brings the mannerisms, but he doesn't over do it, with this slight smile as though the guy is consistently surprised by his own success, and his dazed look as though he's always at least somewhat on drugs. Myers doesn't over do it, he rather makes it a natural state within his performance, and is convincing as Rubell, by having the mannerisms but not overdoing nor making that all there is to them. As even his first interaction where he let's Shane in, requiring he take off his shirt on the way in, Myers brings this extra a bit of the sense of power the man's wielding in the request, and the way he's absorbing the indulgence as just part of his very particular mastery of this unlikely domain. 

Throughout the film, we occasionally check in with Rubell as the face of the company to the public but also as Shane goes about working at 54, where Rubell holds sway. In this avenue Myers goes further with the role, though he always keeps this sort of surface presentation of the man "living his best life" and just loving his power. Myers mixes around effectively though to be a bit more incisive in his manner as he jovially, yet most threateningly assigns duties in the club with "Vietnam" being the alternative. Frequently we see Rubell choosing the next bartender, where there is frequently the suggestion of sexual favors required of the man, where Myers is quite effectively in balancing the note in part of playing the sleaze of the man with that same smile, but going further in crafting this quiet sense of self-loathing in the request. Myers offers subtle hints of shame in the man using the power, even though he uses the power nonetheless, showing his ability as an actor does go beyond caricature. As the film progresses we occasionally stop in with Rubell as he's going to greater extremes as a man, such as one particularly well acted moment, where you see a very insidious sneer below the smile as he looks on with Shane flirting with a customer, or when he fires one of his longtime employees for supposed embezzling, where Myers brings some real vicious intensity in Rubell covering up his insecurities by losing his smile for once. Where we eventually see a merging in his final New Year's speech near the end of the club, where Myers brings the smile to yet makes it feel more forced, more of an oozing desperation at every moment, and just a sense of the exhaustion of the experience of the man lost in his indulgences. Followed by a striking moment, where as the Feds are closing in on him, Rubell refuses to leave, and Myers's delivery of "where would I go" has such a perfect sense of defeat of a man who sees no other option in his life but down. Myers's consistently good and the one truly compelling aspect of the film. He's convincing and creates the period, and a true sense of desperation, rather than the phoniness we get from most of the rest of the film. Unfortunately the film is not aware of this, and doesn't take what it has to allow Myers to explore the role more than the occasional highlight. Myers's portrait of Rubell feels real, when the overall film does not. Myers suggests a greater dramatic capability than he ended up being able to explore in his career, returning entirely back to comedies afterwards, probably due to the overall failure of the film...which had nothing to do with him.