The local harbor is full of activity as the annual waterskiing championships begin. Most of the spectators are enjoying the luxury of a yacht or houseboat, the names of which reflect their owners. For example, the bank president's yacht is named The Wealthy Dolphin. This is in sharp contrast to the name of the popular houseboat owned by the local underworld figures - The Loan Shark. (There seems to be a high level of interest in that boat.) The commanding officer of the yacht club calls his vessel the C.O., while his son, the chemist, calls his the C.O. Two. Then there's Dr. J. Unable to afford a real boat, he and Tripod float to the viewing area on a raft that they have aptly named Achimedes Prince. While sitting and sunning, Tripod notices everyone yelling and waving their arms in his direction. At first his ego is buoyed by all the attention, but his heart sinks when he realizes they have stopped right in a skier's path. Dr. J and Tripod quickly dive off opposite ends of the raft at a velocity of 3 m/sec.