American Notes First Family

When seen earlier this year on network television, Ronald Prescott Reagan, 28, was dancing in his underwear on Saturday Night Live. Next month he returns to the tube as a pitchman. Seated in a crowded airliner, he asks a familiar question--"Do you know me?"--then proceeds with a gentle spoof of his family connection: "Every time I appear on a talk show, people ask me about my father. Every time I give out an interview, people ask me about my father. Every time I pull out the American Express card, people treat me like my father. Come to think of it, that's not so bad."

Shot last week, the commercial will net the President's son an undisclosed fee. It is only one of several high-profile plums on his plate, including a contributing editor's title at Playboy and a correspondent's contract with ABC's Good Morning, America. The Reagans are pleased with the First Son, but they may not be so happy about the current issue of Vanity Fair magazine, in which Ron cavorts in--you guessed it--hot red bikini briefs.