Oliver creeps through the warehouse until he sees the Black Arrow silhouetted at the other side of a hallway. Oliver: "What do you want with me? Black Arrow: "What any archer wants. To see who's better." They shoot at each other from maybe fifty feet away, and they both duck out of the way. There's some running, and Black Arrow loses sight of Oliver. But then he sees Oliver's reflection in a shard of glass on the floor and shoots him off a catwalk. More shooting! Black Arrow is in a much better costume, which covers his face a lot better. Oliver is soon on the ground and being kicked. Black Arrow says, "I know about the list. And the man who authored it wants you dead!" He bends down to remove Oliver's hood, and Oliver stabs him. With Black Arrow temporarily distracted, Oliver staggers away with arrows sticking out of him. He falls out of a second-floor window and bounces off a dumpster. Lying on the ground, he calls Diggle for help.
Oliver wakes up in a hospital bed, because Diggle got him out of there. He has broken ribs and a concussion. And arrow wounds, presumably! The family comes in. The official story is that Oliver was on his bike and a semi pulled out in front. Thea's mad that he bailed on his party, and Oliver says it seems like the right thing to do. It's a fair point, since Oliver left right after Thea yelled at him about how no one wanted his stupid Christmas party. Walter says that the family is, in fact closer together, which was the goal of the party. Thea says she's not the same person she was five years ago either. Oliver says they should just accept each other. I'm pretty sure they've come to that conclusion in at least two other episodes. And she brought him candy canes. She gives him a hug, which is just the thing you want to give someone with broken ribs.
Somewhere else, Black Arrow takes off his hood. It's John Barrowman! John Black-arrow-man! I know that's an obvious pun! I don't care! If you want a subtle joke, go find the Aqua Teen Hunger Force reference I buried somewhere in this recap!
Walter talks business on the phone, but he ends the discussion with, "I'm stepping into an elevator so I'll probably lose you." There's someone else in the elevator, so this is probably it for Walter. Oops! Needle in your neck! (That's a Sealab 2021 reference, so it doesn't count)
John "Malcolm "Black Arrow" Merlyn" Barrowman promises Moira that Walter won't be harmed and he'll never find out about Moira's involvement. He reminds her that she had Oliver kidnapped and tortured, but I'm not sure what his point is. This is the important part: "In six months, the organization's vision of what this city should be will be complete." That's when she'll get Walter back. She's bothered about thousands of innocent people being dead. I like how they combine the ability to tell each other things they both already know with the reluctance to actually say what they're talking about.