Shakira Caine

When Michael Caine goes off and makes movies, his wife of 17 years, Shakira, doesn't stay home playing the role of the stereotypical Hollywood wife. Several years ago, after seeing an exhibit of royal costumes of India organized by the late Diana Vreeland at the Metropolitan Museum in New York, Caine, a former Miss Guyana and second runner up to Miss World, went to India to check out the jewels for herself. "Being Indian, I was inspired by all the Mogul jewelry," she says.

When Michael Caine goes off and makes movies, his wife of 17 years, Shakira, doesn't stay home playing the role of the stereotypical Hollywood wife. Several years ago, after seeing an exhibit of royal costumes of India organized by the late Diana Vreeland at the Metropolitan Museum in New York, Caine, a former Miss Guyana and second runner up to Miss World, went to India to check out the jewels for herself. "Being Indian, I was inspired by all the Mogul jewelry," she says.

Most of the year, Irving (Swifty) Lazar is a literary agent. On Oscar Night, though, he and his wife, Mary, throw the party of the year at Spago. It's no longer the only bash in town, but it's still the biggest stop for the biggest stars. And everyone wants in. Ask Maury Povich of "A Current Affair," who arrived with wife Connie Chung. "I couldn't make this party on my own," he said. "I just got in because Swifty is in love with my wife."

The Scene: The stars usually stop off at the official post-Oscar gathering, the academy's Governor's Ball, for just a few dutiful moments before rushing on elsewhere. Not this year. "They're staying," exclaimed ball Chairman Sid Ganis.

Joan, let's talk. We watched Joan and Melissa Rivers' Oscar preshow on E! (Hey, we do have taste--we watch "The Sopranos" too.) Joan, we know you've been criticized for being too dishy on the red carpet, but that was no reason to tone down the fashion microphone on Oscar night. There you were with Hilary Swank and her hubby, Chad Lowe, and you were asking about her new success, his loyal support, how they're the new Hollywood couple. Yeah, yeah, yeah. But who was she wearing?

The Scene: The title of the event is a real mouthful: The USC School of Cinema-Television's 65th anniversary gala honoring George Lucas with the first USC Award for Leadership in the Entertainment Industry. The black-tie dinner was held Wednesday at the Beverly Hilton. Does the World Really Need Another Award? The film school dean, Elizabeth Daley, said: "It's terribly important that USC establish an award that reflects what this school stands for.

The opening of Hollywood Park on Wednesday brought out all the potential winners, including this year's really fun couple--the devastatingly slim and pretty Elizabeth Taylor and her buddy, pretty and slim Michael Jackson. The yellow and black dress La Liz was wearing gave clear evidence that she is once again a knockout--and the best advertisement for the beauty book she is currently writing.

The folks at Maxim's the night they invented Champagne probably had a good time, too, but they had nothing on the glamorized guests at the Joffrey Ballet Opening Gala on Wednesday night. The crowd was light on its feet, heavy on big names, and certainly as bouncy as the brand-name dancers still bopping and popping on the dance floor past midnight and as glittery as the gowns they wore.

L.A.'s menswear look is traveling around the world. Sophia Loren's sons, Carlo Ponti Jr., 18, and Eduardo Ponti, 15, recently hopped down to Bell Gardens, no less, to visit Zeppelin, which sounds like a band, but it's really a clothing firm. The youngest Ponti was about to leave for boarding school in Switzerland and needed some new school things, he said. He bought denims and heavy-duty sweater tops.

It's going to be a classy act. Elizabeth Taylor and Tiffany & Co. teaming up to host a book party for Carole Bayer Sager's first novel, "Extravagant Gestures." Sure to be there Monday evening at the Beverly Hills Tiffany boutique-- Carole's husband Burt Bacharach. Lucky girl. On all scores. By the time you read this, Heinrich Thyssen-Bornemisza and Tita Barker will be Mr. and Mrs. The Duchess of Marlborough was Tita's matron of honor, and Henry Ford was best man for Heinie.

Los Angeles' Busy and Bustling haven't even vacuumed the dried pine needles from the carpeting before starting the deep involvements of 1987. The Los Angeles Area Chamber of Commerce celebrates its 99th Inaugural Ball in black tie Jan. 23. Chairman Charles D. Miller and vice chairman John C. Argue are planning a salute to Southern California's savings and loan industry. Each year a major industry is honored. Thus, the tributes will be accepted by the chairmen of the biggest five: Robert R.