We analyze Hubble Space Telescope surface-brightness profiles of 61 el
liptical galaxies and spiral bulges (hereafter ''hot'' galaxies). The
profiles are parameterized by break radius r(b) and break surface brig
htness I-b. These are combined with central velocity dispersions, tota
l luminosities, rotation velocities, and isophote shapes to explore co
rrelations among central and global properties. Luminous hot galaxies
(M-V< -22) have cuspy cores with steep outer power-law profiles that b
reak at r approximate to r(b) to shallow inner profiles I proportional
to r(-gamma) with gamma less than or equal to 0.3. Break radii and co
re luminosities for these objects are approximately proportional to ef
fective radii and total luminosities. Scaling relations are presented
for several core parameters as a function of total luminosity. Cores f
ollow a fundamental plane that parallels the global fundamental plane
for hot galaxies but is 30% thicker. Some of this extra thickness may
be due to the effect of massive black holes (BHs) on central velocity
dispersions. Faint hot galaxies (M-V> -20.5) show steep, largely featu
reless power-law profiles that lack cores. Measured values of r(b) and
I-b for these galaxies are limits only. At a limiting radius of 10 pc
, the centers of power-law galaxies are up to 1000 times denser in mas
s and luminosity than the cores of large galaxies. At intermediate mag
nitudes (-22<M-V< -20.5), core and power-law galaxies coexist, and the
re is a range in rb at a given luminosity of at least two orders of ma
gnitude. Here, central properties correlate strongly with global rotat
ion and shape: core galaxies tend to be boxy and slowly rotating, wher
eas power-law galaxies tend to be disky and rapidly rotating. A search
for inner disks was conducted to test a claim in the literature, base
d on a smaller sample, that power laws originate from edge-on stellar
disks. We find only limited evidence for such disks and believe that t
he difference between core and power-law profiles reflects a real diff
erence in the spatial distribution of the luminous spheroidal componen
t of the galaxy. The dense power-law centers of disky, rotating galaxi
es are consistent with their formation in gas-rich mergers. The parall
el proposition, that cores are the by-products of gas-free stellar mer
gers, is less compelling for at least two reasons: (1) dissipationless
hierarchical clustering does not appear to produce core profiles like
those seen; (2) core galaxies accrete small, dense, gas-free galaxies
at a rate sufficient to fill in their low-density cores if the satell
ites survived and sank to the center (whether the satellites survive i
s still an open question). An alternative model for core formation inv
olves the orbital decay of massive BHs that are accreted in mergers: t
he decaying BHs may heat and eject stars from the center, eroding a po
wer law if any exists and scouring out a core. An average BH mass per
spheroid of 0.002 times the stellar mass yields cores in fair agreemen
t with observed cores and is consistent with the energetics of AGNs an
d the kinematic detection of BHs in nearby galaxies. An unresolved iss
ue is why power-law galaxies also do not have cores if this process op
erates in all hot galaxies. (C) 1997 American Astronomical Society.