At the stockholders' meeting, Jorgy (Gregory Peck) gives an eloquent speech explaining the virtues of New England Wire and Cable and why it should be kept alive. But Larry the Liquidator (Danny DeVito) gives an even more eloquent speech explaining that the company is doomed in the long run, and that it would be smarter to dissolve the company and sell off its assets.
Larry wins the majority of the stockholders' votes, in part because Jorgy's right hand man Bill Coles (Dean Jones) betrayed Jorgy and sold his votes to Larry. The company is set to be dissolved.
At the last minute, however, Jorgy's lawyer Kate Sullivan (Penelope Ann Miller) makes a deal with a Japanese auto manufacturer that needs a supplier of wire for its inflatable air bags. The company is now viable again, and the stock price shoots up. Larry agrees to let the company stay in business, the makes plans to romance Kate over dinner that night.
Thanks John L!