The Enterprise is answering a distress call from a Federation colony. Riker beams down with a team, only to find the colony is completely gone and a crater where it used to be. (well, sort of - O'Brien says he landed the team in the centre of the town, but they're on the edge of the crater, so... er... It moved? O'Brien's not as accurate as he thought?)
Some Starfleet high-ups arrive, and they think that the Borg are responsible. Shelby, who's been in charge of Borg research since Q Who, says they've got lots of new weapons, but they're all on the drawing board. Admiral Hanson has tea with Picard, and says that Riker's been offered captainship of the Melbourne, but they haven't heard from him. Hanson suggests Picard might give Riker a push in the right direction.
Shelby's after Riker's job, much to his discomfort. She does take part in the poker game nightly poker game. Wesley sucks at poker. Wesley sucks at something?! This is new. Selby successfully calls Riker's bluff though.
The next morning, Riker finds that Shelby's already beamed down to examine the site. He promptly tells her off, but she confirms the Borg are responsible for the missing colony. Admiral Hanson sods off to discuss the Borg threat, but Shelby stays on board the Enterprise. Picard talks to Riker about why he hasn't taken the command of the Melbourne. He goes and whines to Troi.
Meanwhile the geek squad (Data, Geordi, Wesley and Shelby) are working out how to disable a Borg ship. Riker orders them to get some rest, even though Shelby protests.
Hanson reports that a Starbase detected a distress call from a ship which describe a Borg ship, and the Enterprise sets off at warp 9 to intercept it. In short time, they encounter the Borg ship, Picard sends a message to Hanson to say they have engaged the Borg, and the incidental music goes into fits.
The Borg demand Picard beam over to their ship. When this doesn't work, they start with the tractor beam. Despite the crew's best effort, the ship's no match for the Borg weapons. With Shelby's help, Data finally manages to knock out the Borg tractor beam, and they leg it with the Borg ship in pursuit. Eventually they reach a nebula and hide in it.
The geek squad analyses the battle and conclude that they can destroy the Borg ship, but the explosion would destroy the Enterprise too. Shelby also suggests separating the saucer section so there's two targets, which Riker says is a silly idea, but he'll pass it on to the Captain. She promptly goes over his head. Picard agrees with Riker, and he promptly chews out Shelby. She says he's playing it safe and should step aside for her. Just kiss already!
Picard wanders into Ten Forward and chats to Guinen, who believes humanity will survive the Borg. The Borg, meanwhile, start tossing depth charges into the nebula, and the Enterprise is forced to leave its hiding place. Borg start beaming onto the bridge, and one of them abducts Picard. The Borg ship departs with the Enterprise in pursuit. Worf reports that the Borg are headed for Earth.
Over on the Borg ship, Picard is told the Federation is going to be assimilated, and Picard is going to be the voice of the Borg.
Riker wants to lead an away team over to the Borg ship to rescue Picard, but Troi points out he's now in command, and it would be inappropriate. He pouts and orders Shelby to go instead. She beams over (at warp 9?!) with Worf, Data and Crusher. They hunt for Picard, and discuss ways to get the Borg ship to stop.
Hanson lets Riker know that the fleet is massing at Wolf 359 for a standoff with the Borg ship.
The away team finds Picard's uniform, thus suggesting that Picard's wandering around naked. Riker tells them to do whatever they can to get the Borg ship out of warp. They start destroying distribution nodes, and succeed in getting the ship to drop to impulse. The away team are attacked by drones. Crusher spots Picard, but he's already been assimilated, and the team is forced to beam off.
Riker orders the firing of the weapon they've been working on, but while the other officers are protesting, Picard rings them to lay the smack down. Riker orders Worf to fire, the orchestra goes into fits again, and "TO BE CONTINUED" appears on the screen.
Next week, Wolf 359 happens completely off-screen! Or possibly we'll get Hollow Pursuits.