Bedridden Amos Kyne is the owner and manager of Kyne Enterprises. Upon Amos' death, his son, the ineffectual and disliked Walter Kyne, takes control of the business. Not wanting to do any of the work but retain the glory, Walter creates a new position, "executive director", who effectively will become head of the organization, and a power struggle erupts between the executives. Meanwhile, a serial killer is on a rampage in New York City, and women fear for their lives. Reporter Ed Mobley tries to catch the killer and to prevent Kyne Enterprises from being destroyed over boardroom intrigues. A surprise "dark horse" wins the "executive director" position.