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For some unexplained reason, sales of waffle irons have plummeted. Evelyn Foster, president of the Magic Circle Waffle Iron Company, and Richard Wright, president of the Four Square Waffle Iron Company, decide to merge their companies and get married as well. When Richard insists that the new company make square waffle irons rather than round ones, Evelyn calls off the marriage and the company merger. Richard meets a Hindu yogi, who helps him win Evelyn back.