After Latka is rejected by a snobbish, but beautiful woman at Mario's, he decides to change his image by taking some time off and studying Playboy magazines and English language tapes.
When Latka re-emerges from his sabbatical, he has lost his accent and now is a lounge lizard who goes by the name, Vic Ferrarri. He soon easily picks up on the woman who had rebuffed him earlier.
Although amused, the cabbies become concerned about the changes Latka has gone through, since he has now lost all of his nice qualities and is constantly hitting on Elaine. Alex tells Latka/Vic off, and later Latka appears at Alex's apartment, saying that he's sorry and doesn't want to be Vic anymore.
Alex works with Latka and manages to get the old Latka back, although there is a twinge in Latka's eye that suggests Vic isn't gone forever.