Mollie Jensen (Kirstie Alley) is an accountant living and
working in New York City. The latest client she has been assigned by her
firm is a charmingly handsome but shallow, womanising executive named
Albert (George Segal). Albert seduces her, and although
he is married, he embarks on an affair with Mollie, promising to leave
his wife for her.
Mollie insists that their relationship has to stop; however,
succumbing to temptation, she proceeds to have sex with him, and becomes
pregnant. Once she realizes this, Mollie informs Albert, who takes the
news well and again promises to leave his wife and raise the baby with
her. Until then, Mollie decides to tell her eccentric and over-bearing
parents (Olympia Dukakis and Louis
Heckerling) that there is no father and that she became pregnant via
a sperm donor.
Mollie continues her relationship with Albert as the pregnancy
develops; however, she fears he's seeing another woman, Melissa (Joy
Boushel).
Later, when Mollie and her best friend, Rona (Twink
Caplan), are shopping, Mollie finds Albert in a clinch with
Melissa. Angry and upset, a heart-broken Mollie storms off in a rage
while the fight causes her to suddenly go into labour. When she hails a
cab, the driver, James Ubriacco (John
Travolta), realises the seriousness of the situation and speeds off
wildly to the hospital. Upon reaching the hospital, the nurses mistake
him for the father of Mollie's baby, and he feels inclined to stay.
Mollie gives birth to a son she names Michael, or "Mikey" (voiced by Bruce
Willis and played by child actors Jason Schaller, Jaryd Waterhouse,
Jacob Haines, and Christopher Aydon).
A few days after Mikey is brought home, Mollie receives a visit from
James, and he returns the purse she left behind in his taxi. James meets
Mikey, and they seem to enjoy each other's company.
Over the next month or so, Mollie is dealing with being a single
parent and Mikey is becoming used to his new world when she discovers
that James has been using her address to keep his grandfather (Abe
Vigoda) in a nursing home in the local area. She confronts James and
he offers to babysit Mikey if she lets him continue to use the address,
which she agrees to.
Mollie starts dating again but quickly realises that none of the men
she has been seeing are good enough for Mikey. One night, she lets her
guard down and almost sleeps with James; however, after imagining what
life would be like if she married him, she asks him to leave, despite
James telling her he loves both her and Mikey.
Soon after, Mollie is forced to help Albert with his taxes, when he
pleads with her to let him see Mikey (who he mistakenly calls "Mickey").
Mollie agrees to let Albert see Mikey that night but forgets to
inform James, who is babysitting Mikey. A fight ensues when Albert
arrives and claims to be Mikey's father; James does not believe this is
possible, as Mollie had told him that Mikey was conceived by a sperm
donor. James and Mollie get into an argument, and he leaves.
Later, Mollie takes Mikey to see Albert, who shows that he has not
changed; she proceeds to destroy his office with the help of a very
enthusiastic Mikey.
Mollie later receives a call from the nursing home James's
grandfather is staying at complaining about his behaviour. She explains
to the manager why James's grandfather's behavior had been so bad, and
the manager agrees to let him stay, believing Mollie to be James's wife.
Mollie runs into James outside the office; he had overheard discussion,
and he thanks her.
After Mikey sees a yellow taxi cab outside the nursing home and
believes it to be James, he proceeds to leave and ends up standing in
the middle of open traffic, looking for James's taxicab. James and
Mollie rescue Mikey from the street, and when Mikey calls James "Da-da,"
Mollie sees that James is not only perfect for Mikey, but perfect for
her, as well. They kiss, with Mikey looking on happily.
As the credits roll, an older Mikey and James are shown walking
through a hospital to see Mollie (now married to James), who has just
given birth to Mikey's half-sister, Julie, setting the sequel, Look Who's Talking Too, in
motion.