In Robert Altman's 1992 film The Player, Buck Henry walks into a studio boss' office and pitches a sequel to The Graduate, which was written by Henry. Altman knows this kind of bullshit gets spoken in studio meetings, and he abhors the people who would even consider such an abominable act as franchising The Graduate; it was a sick, stinging joke. So where does that leave director Rob Reiner and screenwriter Ted Griffin, who have done that very thing? Rumor Has It . . . pretends to offer up the real-life inspiration behind The Graduate, but it's just a lesser version with smaller stars, a hijacking of the audience's goodwill for an icon in order to sell its shoddy knock-off. Stay away: Everything about the movie is rinky-dink, from its phony, lifeless dialogue to its drab, shabby sitcom look to its choppy editing, all of which can wear on you after 95 minutes that come to feel like an eternity.