When his town holds a fishing derby, Wally goes into business selling worms. But his friends enter the bait business too, and soon the town is crawling with worm sellers. Chaos reigns. The young entrepreneurs dig up every garden in town to find bait, the fishermen load up on worms, and soon the fish have eaten their fill without swallowing one hook. With all the townsfolk overheated by the mess in their yards and every fisherman catchless and ready to blow, Wally has to find a way to restore order before the disaster turns into Loon Lake's last fishing derby.