Madison, Indiana, 1971. The Ohio river port is in full economic decline, its last pride and obsession being its uniquely town-owned power boat, although the raggedy old donation from a millionaire decades ago never comes close to a win. With his doted son Mike as most devoted fan, air-conditioner repairman Jim McCormick, who had to stop piloting it after a near-fatal accident, devotes all his 'spare' time to it, turning down professional opportunities as that would mean moving, as his wife suggests. Things climax when he realizes the town will either be scrapped from the national racing circuit or host the Gold Cup itself, requiring $50,000 fund raising.

The story of how a boy was abandoned by his mother and how he, later, abandoned her. The year he'll be 14, the parents of Augusten Burroughs (1965- ) divorce, and his mother, who thinks of herself as a fine poet on the verge of fame, delivers him to the eccentric household of her psychiatrist, Dr. Finch. During that year, Augusten avoids school, keeps a journal, and practices cosmetology. His mother's mental illness worsens, he takes an older lover, he finds friendship with Finch's younger daughter, and he's the occasional recipient of gifts from an unlikely benefactor. Can he survive to come of age?