Tom Howard, along with son Leo and daughter Lyn, celebrate their success in the prestigious Commadore Cup but when Tom reveals he has been made redundant from Southern Aviation, none of his family is too happy. Jack Rolf is concerned that his business, The Mermaid Boat Yard, is about to go bankrupt. Tom discusses his problems with Avril Rolf and considers investing his redundancy in the Boat Yard.

Ken Masters is interested in taking over the Mermaid Yard. He employs Leo Howard at the local pertol station and is eager to employ Jan. Meanwhile, Jan and Tom argue incessantly about how he should spend his redundancy money. Polly Urquhart's daughter Abby returns from finishing school but she has not turned out how the Urquhart's expected. Avril tries to prevent Tom from making a foolish investment. In order to raise more capital, Tom asks Avril to find a buyer for the Flying Fish.