Iris McKay arrives in town to discuss dissolving Dylan's trust fund with Jim. She's against the idea but Dylan and Jack lay the pressure on hard. Iris also takes time to meet with Brenda, who is depressed over losing both Dylan and Kelly. Meanwhile, David is offered a record deal with Icon Records, but the sleazy and debauched owner, Curtis Bray, will only give David a recording contract if he fires Steve. David decides to accept the deal, but Steve takes the news very badly and ends both his business and friendship with David. Elsewhere, Brandon is enjoying the high life, as he continues to place large bets.