I think Mighty Fine is intended to be a coming-of-age drama. It features a voiceover from one of the daughters in the film recounting these things as though she is an older woman now looking back on her past. However, the girls don't do a whole lot in the film and there are many scenes with the father alone because it's really Chazz Palminteri's movie. The main thrust of the story is that this father is a bit crazy and taking it out on his family. The way his moods shift so dramatically it feels like he might be a bit bipolar and he is also struggling with some significant anger issues. I also got the impression that he was spending money a bit too freely, but they never did a good job of showing his financial situation getting the better of him. If that's a key plot point you typically see bill collectors pounding down the door, things being repossessed, or at the very least the main characters agonizing over stacks of unpaid bills. I didn't see any of that in this movie, so I think it failed to deliver the story effectively. IMDb also labels Mighty Fine as a "Comedy" which I can only imagine is because of Andie MacDowell's laughable attempt at an accent. I've heard actors struggle with this kind of language work before, but this accent came and went with each sentence, and always made me chuckle when she overdid it and sounded like the parody of someone from a random European country. The rest of the movie is like a Lifetime drama, and not a good one either. The one positive was that Mighty Fine was short, otherwise it's not worth anyone's time.
Review of Mighty Fine
