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Four baby boomers living in New York City in the 1970s deal with the loss of old ideals and an obsession with material possessions. Nick and Karen argue over a classic car she own which is their connection to the past, while their friend Stephanie abandons her marriage and seeks their advice about having an abortion. Stephanie's husband Sammy shelters upstate and tells Nick his problem is he's been "eaten up" by New York. When Karen returns from Bermuda where she's been with a new boyfriend, she and Nick help Stephanie arrange an abortion. At the clinic she tells Nick the Thunderbird is gone, she has sold it.