Lee is a cheap and not-too-shrewd man who seems to want to keep his investment in the Princess Fairy as small as possible. He also seems to invest very little in his marriage, with the result that his wife DeeDee flirts with every man she sees, including Jake.

Among the cutbacks he's made on his ship are serving the cheapest possible beer, hiring a perpetually drunken captain, and letting the whole ship rust out from underneath him. According to his wife, he won't even paint the lifeboat - the only lifeboat. Jake attempts to do a little schmoozing with Lee and his wife to get a consulting job, but in the end it's probably better that he failed. Fortunately, when Lee's ship does crash, it does so in water that's only three feet deep.