Nucky survived the shooting with only a hole in his hand to show for it, leaving Jimmy sputtering in all directions as to what to do next. While he's hollering at Capone on the phone, Angela overhears the part about having Nucky shot, which leads her to retreat to the beach and to her oh-right-I-remember lesbianism with a scandalous bathing-suit-wearer.
After Eli gets a visit from the Feds, Pa Thompson has a heart attack and dies. Nucky and Eli have a tense interaction before the wake, but Nucky only allows himself to break down when he's all alone.
Later, Nucky takes a meeting with Arnold Rothstein and Johnny Torrio, where he confirms their respective suspicions about Luciano, Lansky, and Capone. So how will these old dogs deal with their young pups? Rothstein advises biding their time. On this advice, Nucky decides to abdicate his position as treasurer -- though not before telling Chalky to carry out that black-workers strike he's been threatening.
With Jimmy officially in power, he decides to celebrate. Mickey Doyle invites Manny Horvitz along, which annoys Jimmy since Manny keeps bringing up the money Jimmy owes him, not to mention how he's not shy about expressing his disapproval for daddy's-boy Jimmy trying to off Nucky just for the victory of it. Jimmy expresses his defiance by tossing Mickey off a balcony down through a table below.
In less consequential news, Van Alden hires a Swedish nanny for the baby. In more consequential news, Margaret's daughter Emily has a fever that could get dangerous.
Previously: Nucky got shot.
Currently: Nucky looks pretty okay. He's in an elevator, with the attendant gabbing at him about the results of the Dempsey fight. But according to Nucky, the fight hasn't happened yet. When the elevator opens up to his suite, and we see it's full up of people we haven't seen before, gathered for what feels like a wake, it becomes clear we're in a dream state. Nucky spots a baseball mitt on the chair -- childhood trauma alert! And, yep, right on cue, there's Young Nucky sitting at his desk, with a bloody hole in his hand to match Nucky's. "Daddy eats first," Nucky sternly tells himself. Then there's a mortally wounded deer writhing on the floor, because David Lynch is timeless throughout all eras of history. In truth it's all very Sopranos-y, and not really in a good way. Kid Nuck shoots a shotgun at Adult Nuck, breaking him out of his reverie. He's in his office with a doctor attending to his hand. It's likely a few weeks removed from the shooting, as his hand wound is evident but healing. He jokes about his "stigmata," then gives the doctor shit for not telling him about the Commodore's stroke. Doc's all "doctor-patient privilege" this and that, but Nucky retorts that his medicinal alcohol license is a privilege too. Margaret comes in and asks the doctor to check on Emily, who's feeling feverish. Meanwhile, Nucky struggles to tie his tie.
At Eli's house, his 8 billion kids are all running around and contributing to the general air of hopelessness when Dick Halsey, a clerk from Esther Randolph's office, comes in. Pa Thompson, from his wheelchair, is like "Who the fuck is this?" Halsey is here to serve a subpoena, which gets Eli furious and Pa apoplectic with WTF-ness. Eli grabs the guy by his lapels and forces him out of the house. All the while, Pa is yelling and starts gasping -- a heart attack, obviously.
At the Darmody house, Jimmy runs from the shower to pick up the phone. This shirtless shot of Michael Pitt shows some hair on his chest, in defiance of all logic and expectation. It's Al on the phone, and Jimmy is agitated because Al's pal from Chicago didn't get the job done on Nucky. Al says Jimmy should have done the job months ago anyway, so... classic schmucky Capone logic. "You vouched for this fella," Jimmy snaps, "and now Nucky's still alive!" The camera turns to find Angela and Tommy in the hallway. How long has she been standing there? Long enough. She darkly tells Jimmy she's going to the beach. Jimmy hastily hangs up, but by the time he does, they're out of the house.