Adapted from the Maibaum-Wallach-Haight play, producers insure their broke boss for a million dollars and try to bump him off in order to put on a show.
In Atlantic City at an insurance conference Rosmer Peak (Dick Powell) sings "Pie in the Sky." Unemployed chorus girls take the same train as the insurance salesmen. Genevieve Larkin (Glenda Farrell) wants to be a gold-digger and gets Morty Wethered (Osgood Perkins) to invite her to dinner. Norma Perry (Joan Blondell) is chased by men and runs to Rosmer, helping him shave. Andy Callahan (William B. Davidson) hires Norma as his secretary, and Rosmer sings "Speaking of the Weather." Rosmer wants to quit insurance selling but goes with Andy. Genevieve tells Norma about a show, but Norma says no, because she likes Rosmer. Wethered tells Genevieve they don't have the money for J. J.'s show. Genevieve has him call Rosmer for insurance. Wethered tells J. J. Hobart (Victor Moore) to get insured. J. J. says he's sick. Wethered persuades J. J. to sign a million-dollar life insurance policy. Andy sees it, and they celebrate. Rosmer drinks and says how he did it. Boop (Lee Dixon) says J. J. won't pass the medical. Rosmer sings to Norma "With Plenty of Money and You." Rosmer brings four doctors to examine J. J. Andy learns that J. J. passed and tells Rosmer to keep him alive.
Wethered invites Rosmer to his party. Rosmer goes with Norma and asks Boop to watch J. J. Rosmer shows J. J. pamphlets. Wethered and Hugo (Charles D. Brown) tell Genevieve to heat up J. J., and she dances with him. Rosmer wants to marry Norma. They dance, and Rosmer sings "Let's Put Our Heads Together." Girls sing "Speaking of the Weather," and Boop tap dances. Wethered and Hugo push J. J. into the pool, and Rosmer saves him. J. J. plays ping pong with Boop and makes Rosmer his general manager. Wethered and Hugo send Genevieve to J. J., and she sells tags for kisses. J. J. kisses her, and she kisses him. J. J. goes to rehearsal with Genevieve, who tells Wethered and Hugo she wouldn't hurt J. J., who tells her he likes her. Genevieve tells J. J. what Wethered and Hugo did because he is broke. J. J. collapses. At the hospital Rosmer promises J. J. a good show. Wethered announces that rehearsal is canceled; but Rosmer asks for their help. Rosmer asks Andy for $10,000. Norma, Boop, and others get money too. Rosmer calls the hospital and learns of J. J.'s ceremony and that he passed on; but J. J. arrives in a wheelchair, saying he wed Genevieve. In the show the cast performs the Busby Berkeley number "Love Is Just Like War."
Once again entertainment is used to get people's minds off hard times with comic ways of getting money, music, and dance that includes lots of pretty women.