Kramer's friend Mike has become a bookie. Kramer, a compulsive gambler, places bets with Mike on Jerry's behalf. But when Jerry wins, Mike can't pay up. When Jerry accidentally slams his trunk lid on Mike's thumbs, breaking them, Mike becomes afraid of him. Mike tries to make up his debt by fixing Jerry's trunk but gets trapped inside.
Kramer sets his watch ahead one hour even though Daylight Saving Time hasn't started yet. Elaine's co-worker Peggy calls Elaine "Susie," but Elaine neglects to correct her. When she attempts to do so later, Peggy unknowingly bad-mouths Elaine, prompting Elaine to vouch for Elaine as Susie, and when Peggy addresses Elaine as "Suze," Elaine vehemently objects to the use of any diminutive. Peggy complains to Peterman about the rude outburst, and Peterman arranges a meeting between Peggy, Elaine, and "Susie." At the meeting, Elaine manages to simultaneously pretend that she is Susie to Peggy and that she is Elaine to Peterman, but Peterman then begins giving "Susie" her own assignments. While driving Elaine, Jerry recognizes that her charade has gone too far and tells her she should "eliminate Susie." Mike, still trapped, overhears and interprets this to mean murder.
George is excited about Steinbrenner's ball because he wants to make a grand entrance with his girlfriend Allison with her wearing a backless dress. Allison tells George, "We need to talk." He goes to great lengths to avoid her so that she cannot break up with him. She resorts to using Kramer as a go-between, and Kramer breaks up with George on her behalf. George tries in turn to use Kramer as a go-between for making up with Allison, but she refuses, and Kramer shows up at the ball in her place. During a scuffle in the lobby, George tears off the back of Kramer's tuxedo, and Kramer is thrown into the main hall, making a (backless) "grand entrance" of his own.
Elaine tells Peterman that Susie committed suicide, so Peterman organizes a memorial service. Elaine and Jerry attend. When he arrives, Peterman rear-ends Jerry's car, inadvertently freeing Mike. Peggy is confused to see "Susie" at the service, so Elaine belatedly corrects her about her name. Mike bursts in and accuses Jerry of murdering Susie.
Peterman proposes establishing a foundation in Susie's honor, so Elaine finally tells him the truth. However, he misunderstands and expects Elaine to devote all of her non-working hours to running the foundation.