In New York City, a pimp named Willie Dynamite sends seven prostitutes to an international business convention but is displeased by the earnings of one of the ladies, Pashen, who returns late. Berating the girl, Willie says that he aims to be the “Number One” pimp in the city. Later, Willie attends a meeting of his fellow hustlers. A colleague named Bell complains that the police are cracking down on their industry and suggests that they organize against the law by dividing the city into separate territories. Although the other pimps agree, Willie argues that the “organization” would disrupt their competitive system of free-market capitalism. Returning home, Willie receives word that Pashen was arrested. Elsewhere in the city, a former model named Cora Williams wakes her lover, district attorney Robert Daniels, to send him home. Robert proposes marriage to Cora so they will no longer live apart, but Cora argues that his mother will never accept her line of work, which helps to protect young prostitutes from pimps by offering them modeling careers. Later, Cora approaches Pashen in prison and presents her with a job, but Pashen refuses, claiming that Willie will defend her in court and pay her more money. However, no one comes to Pashen’s aid during her hearing. Cora arranges with the judge to take custody of the girl if she pleads guilty, but Willie arrives at the last minute with a lawyer who posts Pashen’s bail. Outside the courtroom, Willie hits Pashen and mockingly offers work to Cora, who is fuming. Back at the prostitutes’ apartment, Willie announces that Pashen’s bail will come out of his other ladies’ wages and leaves in anger. Cora arrives at the apartment sometime later and unsuccessfully prompts the women to defy Willie by working for her, instead. Meanwhile, Willie is detained by police on suspicion of armed robbery but is released. When Willie heads to an impound to retrieve his towed Cadillac, two detectives named Celli and Pointer interrogate him about a prostitute who recently overdosed on drugs, but Willie claims his rights are being violated and gets away. Willie soon discovers that Pashen has been arrested again and is further enraged to learn from his lead prostitute, Honey, that Cora has propositioned the girls for work. Willie heads to Cora’s residence to threaten her but Cora, who describes herself as “a Ralph Nader for hookers,” declares war on Willie. Cora visits Pashen in jail and again offers her work, but Pashen is determined to stay with Willie. Later, while Willie visits his family pretending to be a successful band manager, Cora breaks into his apartment to review his Ledgers. When Willie returns, Cora smashes a vase over his back and escapes. Meanwhile, Willie’s ladies are arrested and his Cadillac is again towed away. As Willie guides his prostitutes out of jail, Cora watches and winks. At dinner with Robert that evening, Cora confesses that she broke into Willie’s apartment. The lawyer claims that she will be unable to use Willie’s bank records as evidence against him in court but offers to provide Willie’s financial information to another adversary. Sometime later, Willie is held at gunpoint by Bell and his henchman, but Willie overcomes them and returns to his prostitutes’ apartment, where he discovers one of Bell’s men trying to take control of his women. After forcing the man out of the apartment, Willie finds Pashen in his bedroom, begging for release from her job. Willie soothes the girl, saying that she is special, and she agrees to stay. That night at a convention of optometrists, Willie’s women find Bell’s prostitutes on Willie’s turf. Honey is killed defending her boss and the other ladies, including Pashen, are sent to prison. Later, at the bank, Willie discovers that his accounts have been frozen by the Internal Revenue Service for tax evasion and, as he drives away, he is followed by Celli and Pointer, who crash their vehicle. Although Pointer gives chase on foot through nearby tenements, Willie escapes. Returning to his prostitutes’ apartment, Willie finds his ladies have been released from jail. As Cora guides Pashen out of the apartment, she reveals an enormous knife gash across the girl’s face that was a result of her imprisonment. When Willie demands patronage from his other women, they walk away and Bell, their new hustler, shows up with his gun drawn. Bell’s henchmen beat Willie and leave. Willie then staggers home to find his apartment overturned and Pointer arrests the pimp for carrying a concealed weapon. The next day in court, Robert attempts to convict Willie, but his efforts are foiled by the judge, who releases the hustler on $20,000 bail and demands that Willie get a lawyer. Although Willie is set free and leaves, his honor is tarnished in the eyes of his mother and sister, who watch the hearing and are horrified to learn that Willie is a pimp. Cora consoles the women, but Willie’s mother suffers a collapse. When Willie returns home intoxicated, he finds Cora, who reports that his mother is dying in the hospital. Cora helps Willie compose himself and he visits his mother, begging for forgiveness. The woman dies and Willie storms away with Cora following. She invites him to her apartment, where she confesses the troubles of her past. When Willie says that Cora has inspired him to reform, she asks him to forgive her for her aggression toward him. Before leaving, Willie gives Cora an envelope of full of money to pay for surgery to repair Pashen’s face. Outside, Willie’s Cadillac is towed away yet again, but the former hustler resolves to let go of the past and walks away smiling.