Recap: Alexis is having a fake flashback of the aftermath of Blake (who had much browner hair "twenty years ago") catching her in bed with Roger Grimes. He snarlingly tells her to get out of his house and his life, and doesn't buy her weak excuse that Roger had gotten drunk and forced himself on her - which, incidentally, contradicts her court testimony at Blake's Season 2 murder trial that she had been consensually riding Roger's baloney pony when Blake returned home from a business trip earlier than expected. Alexis changes course and blames her infidelity on his frequent absences, and Blake growlingly points out that he takes a lot of business trips so he can build Denver Carrington into a multi-gazillion dollar company that can support her and their children in the life to which they're starting to become accustomed. He decrees that he doesn't want their children to be contaminated by her and orders her out of his house pronto...and when she pleads with him to not cast her aside, he growls, "I'm going to pay you to go - like the cheap little slut you are!" When Alexis snaps back to the present day, she murmurs in a raspy sounding voice, "Oh yesssss, Blake. You will pay."
Over at the Carlton Hotel, Blake is yelling, "Noooooo!!" while in the throes of a nightmare...and when Krystle comes running into the room to see whassup, he tells her he dreamed that he was back at the mansion and was trying to find her - but behind every door stood Alexis, mockingly laughing at him. Krystle gives him a comforting canoodle and promises that one day soon Alexis will vacate their home, and that this whole 'we've lost everything' storyline will be a thing of the past.
Adam informs Ben that an Australian operator contacted the mansion to pass along the message that it's not possible to give out any information regarding the intriguing call he received during the previous episode...and Ben breezily says it's totes fine, 'cause he's pretty sure it was just a crank call.
Alexis summons Hilda Gunnerson to the study and offers her a $1,000 a month raise in exchange for tattling on any co-worker who demonstrates so much as a whiff of disloyalty towards her. Hilda mulls that over for a few seconds, then says she really wouldn't feel comfortable snitching on her cleaning colleagues...but when Alexis reminds her about the time she helped save her son's life by paying his exorbitant hospital bill, she decides she is comfortable snitching on her workplace besties after all.
Blake is reading the latest issue of The Denver Mirror, looking visibly incensed that the lead article suggests that he's to blame for the La Mirage fire. Krystle expresses surprise that the rag's generally fair-minded editor (Wendell Parker) would print something so inflammatory, and Blake says he intends to pay him an impromptu visit and give him the what for for so publicly defaming him.
Over at the mortuary, Philip Thorpe (aka the man whose wife tragically died in the La Mirage fire) is hovering over his wife's coffin, stewing about how Blake Carrington is responsible for her untimely demise.
While exiting the hotel, Blake and Amanda encounter Michael Culhane, who's decked out in his old chauffeur uniform. He tells Blake he'd like to atone for his past mistakes by serving as his personal driver...and when Amanda asks what that's all about, he admits to having a steamy affair with Fallon, which was sternly frowned upon by Blake. Amanda asks Blake if he can't find it in his heart to forgive his ex-chauffeur for boning Fallon, given that more recently he rescued her from the La Mirage fire, so Blake decides 'sure, why the hell not?' and orders Michael to drop Amanda off at the office and him at The Denver Mirror.
Blake enters Wendell Parker's (former) office at The Denver Mirror and is stunned to see Alexis seated behind the desk, discussing the front page layout of the next edition with her assistant flunky. Blake gruffly says that based on today's headline he should have known he'd find her in the publisher's chair...and Alexis smugly informs him that she just purchased the rag, then holds up a front page template with tomorrow's proposed headline: Agonizing Deaths Described in Carrington Fire. She explains that her new mission in life is to print articles about all the things that are wrong in the world, starting with the baseless accusation that he deliberately started the La Mirage fire in order to collect the insurance money - which, in her mind, makes him guilty of arson and murder! Blake challenges her to make those bogus charges stick, then vows that he's going to stay in Denver, fighting her to his last breath...and Alexis counter vows that she's going to see to it that he's put behind bars for his crimes, however completely 'all in her head' they may be.
Adam warns Blake that Denver Carrington stock is falling dramatically, and Blake says he's well aware and is chalking it up to all of the bad press he's been getting in The Denver Mirror. He somehow decides it'd be a good idea to sell off some of his personal stock to keep the price from falling further, and Adam cautions him about the boneheadedness of that idea - not least 'cause there's a good chance he could lose control of the company - and strongly advises him to instead declare bankruptcy. Blake adamantly refuses to go the bankruptcy route and says that now more than ever the two of them need to form an über strong father-son alliance and work really really hard to save the company, a mission to which Adam firmly commits [spoiler: until a better offer comes along later that day].
Dex storms over to Denver Mirror headquarters and offers Alexis $5 million more than what she paid for the rag if she transfers ownership of it to him and his father - for the sole reason that he doesn't want her to have it. He warns that running the paper is going to get complicated and messy - but Alexis insists she knows exactly what she's doing, and that the only person she can really depend on is herself. Dex says he feels sorry for the lonely, empty shell of woman she's become, and she tells him he needn't pity her 'cause she's immensely enjoying being in control of her own fate.
Steven drops by Adam's office in an effort to clear the air and point out that Blake desperately needs them to join forces in order to save Denver Carrington. Adam says he's deeply concerned that Alexis is going to buy up all of Blake's company stock, and Steven declares that he's quitting his job at ColbyCo 'cause he hates what their mother is doing to Blake. Adam reminds him that they haven't worked well together in the past - but then says he's willing to give it another shot, and the two shake on it.
Adam heads straight over to ColbyCo to tattle to Alexis about how Steven is abandoning her to work for Blake, adding that he hates to see her being betrayed by her own son...and says this as though he himself hasn't been working at Denver Carrington for the last season [or two? I've lost track]. He gripes about how he advised Blake against overextending himself in his quest to take over ColbyCo, and is miffed that the old goat stubbornly refused to listen. He then gets a faraway look in his eyes as he recalls how dickish Blake was so him when he first joined the Dynasty cast, holds up the silver rattle he had as a baby [LOL...'cause I guess he carries his baby toys around with him] and credits Alexis for being the only person who believed he was who he was claiming to be. He vows to abandon the sinking ship that is Denver Carrington - just as Ben enters the office. A joyous Alexis offers Adam what seems like a made-up-on-the-fly job being ColbyCo's Director of Legal Affairs, and he happily accepts, gives her a thank you hug, and says he'll start in the morning. Once he leaves and is out of earshot, Ben cautions Alexis about trusting Adam, who has a tendency to always bet on the winner, and she's like, "Well d'yuh" and somewhat nonsensically points out that that she is the clear winner of the never ending Alexis vs. Blake War, then rushes off 'cause she has an appointment with her mansion decorators.
Later, at Carrington manor, Alexis asks Krystle what the hell she's doing in her house, so Krystle explains that she was visiting Danny, who seems very sad these days. Alexis haughtily reminds her that Danny is her flesh and blood, then abruptly changes the subject to Blake's dismal future as a prison inmate. A baffled Krystle says that Blake has done nothing to deserve prison and warns that if she continues slandering Blake in The Denver Mirror, she's going to alienate her children [not to mention risk a UGE defamation lawsuit for all the unsourced lies she's been publishing]. Alexis is like 'yeah whatever' and smugly informs her that Adam is firmly in her corner and strongly believes that the rest of her children will follow suit...and when Krystle gives up on the conversation and sashays towards the front door, Alexis cattily compliments the pretty but definitely out-of-style drapey sweater thing she's wearing.
That evening, Philip Thorpe is skulking around the Denver Carrington parking lot and climbs into the passenger side of Blake's limo when he's caught red-handed by a police officer. Philip weakly claims that he thought this was his friend Wilson's car - but the officer says, "Wrong car" and shoves him away...and Philip bellows, "Don't push me!", and grumbles about how fuuuuuucking tired he is of being pushed around.
Blake tells Krystle he just learned that Adam has decided to suddenly join forces with Alexis and work at ColbyCo, despite the two of them just having a conversation about forming a father-son alliance to save Denver Carrington. He then laments Alexis's purchase of The Denver Mirror, prompting Krystle to defiantly announce that she's returning to Denver Carrington as his new PR chief so that she can begin to rehabilitate his image, and he canoodles her and says he definitely likes the sound of that idea.
While exiting the hotel, Krystle natters at Blake about her overall strategy to repair his damaged reputation. The two then climb into the back of the limo...and as Michael ferries them away, Philip Thorpe emerges from a nearby bush to jot down the license plate number.
Back at the mansion, Ben warns Alexis about buying too much of Denver Carrington's worthless stock, to which she bitchily retorts, "When I need your advice, I'll ask for it." A dismayed Ben asks her if she was "this sweet" with Roger Grimes, then explains that he learned all about her torrid extramarital affair from the servants. Alexis makes it clear that she does not appreciate him prying into her past...and that if he does it again he'll be expelled from the mansion. Ben says he has no desire to leave her life or this house, and creepily says he wants to get even more deeply enmeshed into her world and has his heart set on running Denver Carrington. Alexis chuckles at that prospect, but then concedes that she has her hands full running ColbyCo and The Denver Mirror and agrees to further discuss it on her way to the office.
Adam is cleaning out his desk at Denver Carrington when Blake storms into his office to express his angry dismay at his sudden decision to work for Alexis. Adam complains that he's never felt appreciated and has grown very disillusioned at Denver Carrington, so Blake grumbles about how he expected him to be a son, a Carrington. Adam insists that he is a Carrington, but Blake retorts, "Not to me", coldly adding that he never was and never will be. Adam tells Blake it's clear that he (Blake) wishes he (Adam) had never joined the cast of Dynasty as his long-lost son, which is precisely why he's going to a workplace where he's loved and respected.
Clay arrives at Delta Rho and finds Sammy Jo tending to her son's favorite horse, Valez. When a banging noise spooks the animal, Sammy Jo falls backwards into the hay...so Clay leaps over to where she's laying to ask her if she's OK (she is), then mounts her while planting a long smooch on her lips. As that's happening, Steven and Danny arrive at the stables and are all ack! when they catch her and Clay in mid-smooch. Sammy Jo pretends as though she and Clay were scouring the hay looking for Valez's medicine...and as the oblivious tot busies himself with feeding the horse, Sammy Jo openly canoodles with Clay as Steven stares over at them with a troubled expression etched across his usual sourpussed face.
Krystle hands Amanda a list of media outlets she needs to phone in order to remind them about the upcoming press conference at the Carlton Hotel this afternoon. Amanda assures her she's on it, then lists off the additional responsibilities she's in charge of: setting up the seating, arranging for the refreshments, and distributing the press releases. Krystle beams happily and tells her step-daughter she appreciates her help and has no doubt that she'll be able to carry out the duties expected of an entry-level PR flunky.
While ferrying Amanda back to the office, Michael shuts off the limo's engine and brings the vehicle to a complete stop on the side of the road, then opens the hood and pretends to look into what might be malfunctioning. Amanda exits the limo and asks whassup, so he replies, "Just a little fine tuning" and promises to get her back to the office on time. He needlessly explains that he and Fallon were just a couple of high-spirited kids when they hit the sheets together, then asks her to hand him a wrench...and in the process gets grease all over her hand. He apologizes and wipes it off, then clasps her hand and stares at her longingly, and Amanda pulls her hand away and says she has an important call she needs to make.
Dex drops by Denver Carrington to tell Blake he thinks Alexis is "off limits on this vendetta", then offers to lease him some valuable oil property in Wyoming so he can generate some much needed cash. Alexis suddenly bursts into the room, correctly assumes they're talking about her, and smugly announces that as of twenty-five minutes ago she officially became the controlling stockholder of Denver Carrington. As she victoriously waves around the paperwork, she tells Blake he has exactly one hour to pack up his stuff and vacate her building, making clear that this is payback for humiliating her twenty years ago.
Steven and Amanda chide Adam for betraying Blake at a time when he most needs the support of his children, and Adam clues Amanda in about how Blake always treats his daughters as if they could do no wrong, while his sons are expected to agree with everything he says and does. Fair point.
Alexis is contemplating her victory while sitting alone in the Denver Carrington board room - when Steven enters and announces that he's resigning from ColbyCo. Alexis reminds him that when Blake was too homophobic to accept his gay lifestyle, she was the one who came to his defence...and Steven acknowledges her support of his sexual orientation, but that it's not an acceptable excuse for all the damage she's doing to Blake. Alexis sighs heavily and tells him she loves him and that he's welcome to reenter her life any time he wants - but for now hates the idea of sitting by and watching him be a loser.
While canoodling in a silk sheeted bed together, Sammy Jo tells Clay she'd like to give his mother a horse and adds that she'd really really like to meet her. Clay [somehow refrains from expressing how weird it is to give someone you don't know a horse and] mumbles, "Sometime soon" and remarks on how long it's been since his mother was into horses. Sammy Jo asks him if he's ashamed to introduce a skanklet such as herself to his family, and he weakly denies any such thing and says he'd just prefer to concentrate on what they have in common...and a few seconds later the two start going at it.
Krystle is helping Blake pack up his office when some guy named Bill delivers a box of Blake's personal files. Blake thanks him, asks him to assemble the department heads in the boardroom asap, then wrings his hands worriedly about how he's going to say goodbye to his loyal subordinates. Krystle assures him he'll find the right words, then wanks him about how he has the talent, experience, and intuitive sense of people to send himself off in style. A few seconds later, Ben enters the office and smugly announces that he's come to take over as CEO, and Blake sourly warns him that stealing has never been part of this company's philosophy, chiding, "And that's all you know." Ben grins demonically and cackles about how satisfying it is to be taking control of his hated brother's life's work, and Blake turns his attention to Krystle and says they're outa here. When he picks up his box of personal files, Ben's all, "Whoa, those belong to the company now" - but Blake insists that they're his private papers...and that if he wants them, he's going to have to pry them from his cold dead hands. Alexis suddenly appears in the doorway and says that that won't be necessary and snippily tells Blake to take his private files and go.
Alexis shuts the door, surveys the ginormous office, and tells Ben that Blake built an empire here. She hastily assures Ben that she feels zero empathy for Blake as he's stripped of his home and his company...but adds that if she did feel empathy, he can suck on it 'cause her feelings would be her own damn business.
Blake is in the boardroom, encouraging the department heads to stay on the job, keep the company running, and not let anyone destroy everything they've accomplished. He promises that one day soon he'll be back at the helm, thanks them all for their service, and bids them adieu.
While being ferried by Michael to the Carlton Hotel for the press conference, Krystle tells Blake she received a report from the Fire Department confirming that La Mirage was kept above code, which goes a long way to prove that he had nothing to do with the fire, an update that should put an end to Alexis's lies. In theory, anyway. Michael, meanwhile, notices that they're being followed by a car being driven by Philip Thorpe, who quickly pulls up beside them and screeches, "You killed my wife, Carrington! You murderer!" He then forces the limo off the road, and it skids off of a short cliff and crash lands on its side. A weak looking Blake emerges from the wreckage and sees that an unconscious Krystle is pinned beneath the limo. He does his best to free her...but when he's unable to summon the strength, he sadly collapses beside her.
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