If you ever get the chance to watch this, do it just for Stallone's suits. It was right after Rocky (the first one), and he's in terrific, but not Rambo 2/3 freakishly ripped, shape.
It's a fictionalised account of the rise of the Teamsters, and he plays the Hoffa character.
Anyway, all his suits are incredible, three-piece, way high-waisted pleated and very full cut trousers with skin-tight vests that seem to be more cut out around the armholes, topped by really wide shouldered double breasted coats.
I think it's an exaggeration of those cool 30s and 40s suits, highlighted to accentuate Sly's torso, but jeez they look good...