During a touching birthday slide presentation Smithers makes for Mr. Burns, we see the early life of Springfield's richest man and learn that despite all his power and money, he'll never be whole without Bobo, his favorite childhood teddy bear. Smithers dresses up in a giant plush bear suit in an attempt to replace Bobo in Burns' heart, but it doesn't work. Meanwhile, Bart buys a bag of ice at the Kwik-E-Mart that contains a stinky, rotting teddy bear. Bart gives the bear to Maggie, who falls in love with her new toy. Homer realizes that Maggie's new bear is the same one Burns is offering a reward for and negotiates to give it to his boss for a price. Negotiations break down when Homer sees how much Maggie loves the bear and to retaliate, Mr. Burns tries to force the issue by taking over the broadcasting of Homer's favorite shows and shutting off the beer supply to Springfield. Eventually, Burns and Maggie meet for a one-on-one meeting and Maggie gives the old man his bear back.
