Mr. James assigns Dave the task of doling out the annual bonuses. Each staffer gets the standard $400 bonus except for two, one of whom receives a $3,000 'Big Bonus', and the other 'The Shaft'. In the B-story, Bill complains to Dave about all the clutter that mysteriously finds its way to his desk.

Dave's old girlfriend Nancy visits, still under the impression that she and Dave are an item. Meanwhile, Jimmy insists Bill interview a 'financial visionary'.

Bill is approached with a book deal to write his autobiography.

Dave introduces Bill at a Broadcasting Society event after taking speaking lessons from Bill. Matthew learns about gambling from Joe, falling $20,000 into debt.

Mr. James disrupts the office with his early April Fools' Day practical jokes. Bill is interviewed by a Wall Street Journal reporter. Lisa and Matthew compete for the right to cover the New Hampshire primary.

Bill enlists Joe and Matthew's support to try to convince his girlfriend that he's British. Beth tries to sell 'Fat Albert'-style hats to a department store. Lisa uses Mr. James’ negotiating tips to ask Dave for a raise.

The staff is shocked by Matthew's love life; Bill gets some bad news about the fate of his radio show.

In an episode set in outer space, it's business as usual for the staff of WNYX.

Dave tries to get Matthew rehired amidst chaos. Andrea hires a man to share Dave's Job, Jimmy brings a camera crew into the office to film a documentary, and Bill prepares for a new career as a singing political satirist a la Mark Russell.

Bill hires a gentleman's gentleman, Cadbury, to oversee his life. Mr. James teaches Lisa 'The Secret of Management'. Matthew feels left out when Bill doesn't congratulate him on being rehired.

Bill announces plans to adopt a child. Beth and Joe attend a charity bachelor auction, with Beth impersonating a duchess and Joe playing her homosexual bachelor friend, to bid on Mr. James.

Lisa is treated like a male by office co-workers, who revert to their boorish selves when all other females are out sick.

The episode spoofs the movie Titanic, where Walt and Dave sketch Lisa nude and give her heart-shaped necklaces. Soon, though, the ship starts to sink...

Mr. James announces that he's selling the station and retiring to New Hampshire. Dave believes it's a ploy. Lisa organizes a retirement party to convince Mr. James to stay.