Yes, that is exactly what you think it is. Whilst he was partially responsible for co-creating most of Marvel's stable of characters from The Avengers to Spider-Man to the X-Men Stan Lee's work in the twilight years of his career have been a little less iconic (to say the least). Principally concerned with pinning his flag to celebrities, Lee has teamed up with such laudable public figures as Pamela Anderson, whose Striperella character (stripper Erotica Jones by day, superhero by night!) was as terrible as it sounds. Slightly less terrible-sounding was Lee's mooted collaboration with former governor of California and late eighties/early nineties action icon Arnold Schwarzenegger for another multimedia franchise based around his chiselled image. The Governator franchise would have consisted of a comic series, a 3-D animated film, an animated TV series and video games, with the comic and cartoon serving as the launching pad for a new character loosely based off of Arnie, with a fictionalized Schwarzenegger stepping down from his role as Governor of California to become a superhero. It may have been pants or it may have been entertainingly pants, with The Governator apparently due to harken back to Saturday morning cartoons from Arnie's heyday. Except then he got embroiled in that sexual harassment scandal and quickly became less of a hot property.
Tom Baker is the Comics Editor at WhatCulture! He's heard all the Doctor Who jokes, but not many about Randall and Hopkirk. He also blogs at http://communibearsilostate.wordpress.com/