While David and Eli move to close their most important knock-off dress deal ever, Pinzolo uses the same deal -- and information from someone close to David - in an attempt to bury Eli and Elrose Fashions for good.
David Sternberg's final act is to leave a letter incriminating Rick Pinzolo in a murder he witnessed, and Raglin desperately seeks to make the charges stick, as the OCB garment-center investigation draws to a disquieting close.
Corrupt music mogul Winston Newquay tries to buy out Vinnie's Dead Dog Records, but he instead opts to merge with Isaac Twine's company, Shakala. Newquay tries to take away Vinnie's contracted star, Diana Price (Deborah Harry).
Vinnie and his record producer Johnny Medley try to steal Eddie Tempest, a hot property, from Winston Newquay. Newquay has Medley beaten severely. In a no-limit poker game, Newquay wins Shakala Records from Isaac Twine. Vinnie convinces Newquay to keep him on in the company.
Newquay tries to fire Vinnie, but Terranova responds with a restraining order. Newquay makes him the company mailboy to spite him. Vinnie's associate Bobby Travis finds out he's a fed. With Travis' help, Vinnie and Frank get incriminating evidence of Newquay committing fraud, and Frank arrests the mogul.
The case against Newquay is dismissed as entrapment. After making a bet with Newquay that he will live to dance on his grave, Isaac dies of a heart attack. Vinnie lets Travis have Dead Dog Records, telling him to keep a chair warm for him for the future. Newquay goes insane and is institutionalized.