Jimmy hires Andrea, an efficiency expert, when the station needs to cut funds. The staffers rally around an inept Matthew to try to preserve his job. Bill auditions for a television job.
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.
Andrea forces the staff to take lie detector tests. Lisa fears she will not pass the test due to her extensive criminal past. Jimmy has his book, which failed in the U.S., translated into Japanese then back into English.
Dave hatches a scheme of 'pure evil' to get his job as news director back, including approving Bill's obscenity-laced imaginary conversations with the president. Lisa tries to excel as news director. Matthew lives in the office.
Each staffer offers up a very different version of events of the day Catherine announces she's leaving WNYX. Joe realizes that Catherine's always yearned for him.
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.
Dave finds it hard to say no when his old college a cappella singing group 'Chock Full o' Notes' reunites for Dave's 32nd birthday, hoping to take the pop charts by storm. Meanwhile, Lisa tries to motivate Matthew without reducing him to tears. Joe has a beef with one of Dave's friends.
After Bill pesters Lisa once again, Dave and Lisa hatch an evil plan to make Bill the boss to teach him a lesson. Bill's reign is eerily efficient. Joe goes on a sympathy strike to support another of Mr. James’ companies.
Mr. James announces an election for station manager, which neither Dave nor Lisa want to win. Joe's dysfunctional brothers visit the station to plan a surprise party for their parents. Matthew runs for floor fire marshal.
Dave struggles vainly to get the staffers to properly use the recently installed security door. Bill enlists Lisa to do the negotiating when he's offered a job in a blue jeans commercial.
Mr. James gives Matthew a small toy car. Mr. James urges Dave and Lisa to get back together when a secret study reveals they're more productive when they're a couple.
Jimmy plans to go around the world in a hot air balloon, until Dave finds that he is full of "hot air". Meanwhile, Bill switches from cigarettes to chewing tobacco.
Joe fights Matthew in a no-holds-barred match at Mr. James' men's club smoker. Bill is extremely worried that Walt will ask Lisa on a date. We learn Dave's technique for getting rid of an unwanted visitor: act insane.
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...
