Lawrence "Larry the Liquidator" Garfield [Danny DeVito] is a shrewd corporate raider who has built his fortune by buying companies and selling off their assets. With the help of a computerized stock-analzying program called Carmen, he marks New England Wire & Cable Company as his next target, a business that sits at the heart of a small Rhode Island town and sustains its people. The company is steered by the well-meaning and folksy Andrew "Jorgy" Jorgenson [Gregory Peck], who becomes the reluctant guardian of a local institution.
Garfield makes his move to seize control, and Jorgy, pressed by the looming threat, hires his stepdaughter Kate Sullivan [Penelope Ann Miller], a sharp big-city lawyer, to defend the business from a hostile takeover. Garfield is instantly drawn to Kate, even as he remains focused on his ultimate objective: to become the majority stockholder. The dynamic between them is tense and charged, as Kate recognizes Garfield’s bold boldness while he maintains a cool, calculating stance.
Bea Sullivan [Piper Laurie], Kate’s mother, makes a secret journey to Garfield’s offices with a bold offer: one million dollars in greenmail to walk away. Garfield rejects the proposal, declaring, "I don't take money from widows or orphans," a line that underscores his stance against being bought off. Meanwhile, Bill Coles [Dean Jones], the trusted president of the company, worries about losing everything and proposes a deal: he would let Garfield vote his shares in the company in exchange for a hefty payout. Garfield accepts but stipulates a twist—Coles would receive half the money if his shares fail to close the gap at the pivotal moment.
The drama shifts to the annual shareholders’ meeting, where Jorgy argues passionately for the old manufacturing values—the jobs, the craft, and the community—versus Garfield’s modern, money-driven approach. The crowd seems swayed by Jorgy’s earnest appeal until Garfield rises to rebut. He paints a stark picture of progress, likening a once-proud company to the last buggy whip maker: a high-quality product, perhaps, but doomed by changing technology. He argues that liquidating the firm outright would merely deliver a few dollars to each shareholder, a result he frames as a pragmatic, value-driven exit.
> I don’t take money from widows or orphans.
When the votes are tallied, Garfield wins a controlling interest in New England Wire & Cable. The margin outpaces Coles’ shares, and the betrayal leaves Coles with less than he had bargained for, a consequence that resonates as a practical reproach to a man who trusted the old guard.
Back in Manhattan, Garfield wrestles with an unusual sense of loss—his victory feels hollow because it has cost him the chance of romance with Kate. Then a call from Kate shifts the mood: she’s been in talks with a Japanese automaker eager to hire New England Wire & Cable to manufacture stainless steel wire cloth for automobile airbags, a profitable and futuristic path for the company. Garfield, unexpectedly hopeful, invites Kate to dinner to discuss the opportunity. Kate answers with a cool, businesslike line that hints at their complex dynamic: > Lunch; strictly business, you know where. <br/>Garfield blushes and smiles, realizing that the future might hold more than he expected.
