Box Office Bomb: As exorbitant as the price tag was, this wasn't actually the all-time most expensive film at the time of its release, as is commonly reported (Superman: The Movie and Star Trek: The Motion Picture both had budgets just shy of $50m, and Cleopatra was nearly twice as expensive if you adjust for inflation). Unfortunately, it didn't make even a tenth of its budget back, making it inarguably the biggest box-office bomb that Hollywood had seen up to that point.
Creator Killer: Killed Cimino's reputation and contributed to the collapse of United Artists.
Executive Meddling: The only successful instance was the studio brass forcing Cimino to trim the film from its initial runtime of just over five hours to around three hours, forty-five minutes for its one-week run in New York. When that engagement failed, Cimino askef for the film to be withdrawn and recut, and the resultant cut that played theaters in 1981 ran about two-and-a-half-hours, and somehow managed to be far worse. (Today, the most frequently screened version is the three hour-plus cut.) All other attempts to enforce this trope were either considered, but later dropped, or rebuffed by Michael Cimino.
The studio brass did consider sacking Cimino and replace him with Norman Jewison (or even David Lean, as hinted in the book Final Cut). However, Jewison wanted nothing to do with the film, so that never happened.
Although only a minor role, this was the debut for Jake Slicker as well.
Troubled Production: Originally budgeted at $11 million or so, events occurred that shot its budget up to around $35 million (although some claim it could be as high as $44 million!) Adjusting for inflation, that's over $100 million. For example, after an entire set of a town's main street was built to his exact specifications, Cimino decided that the street looked too narrow. He ordered the buildings on each side torn down and rebuilt three feet back from where they were, even after one crew member pointed out that it would be easier and cheaper to just tear one side down and rebuild it six feet back. The cost of this decision alone? $550,000 and a massive toxic slick on a lake in Glacier National Park. You know that something's wrong when, after six days of filming, the project's five days behind schedule.
That said, tensions reportedly weren't high on set at all and a lot of people had good things to say about Cimino, some even commending him for his "artistic" efforts. Part of the problem however was that Cimino had closed sets off from the press. Eventually an undercover reporter wrote an article on how things were going having snuck in, choosing to paint a picture of chaos. Many consider the article a big Take That at Cimino that inevitably harmed the reputation of the film itself.