On this day in 1986, ‘Down and Out in Beverly Hills’ was released by Touchstone Pictures. The story was adapted from a French play, “Boudu Saved from Drowning.” A drifter at the end of his rope is saved by a wealthy but dysfunctional couple. They invite him to live with them, a decision that broadens the couple’s perspectives and enriches everyone involved. The film starred Nick Nolte, Bette Midler, and Richard Dreyfuss. It was the first R-rated film released by a Disney subsidiary. [40 years ago in 2026]