Original Movie Press Sheet. Ironweed is a 1987 American drama film directed by Héctor Babenco. It stars Jack Nicholson and Meryl Streep, with Carroll Baker, Michael O'Keefe, Diane Venora, Fred Gwynne, Nathan Lane and Tom Waits in supporting roles.The film was nominated for Academy Awards for Best Actor in a Leading Role (Nicholson) and Best Actress in a Leading Role (Streep).