The Young and the Restless has been playing a game of boardroom deathmatch since last summer when Cane came back to Genoa City. Now, things are getting ugly as Phyllis pushed the envelope by drugging Cane.
What happened on The Young and the Restless

Boardroom politics usually spill over into personal relationships. Take the example of Billy (Jason Thompson) and Phyllis (Michelle Stafford) recently getting back into bed together -- we mean that figuratively, not literally. Billy is no fan of Phyllis's and vice versa, but once they realized that they could use each other to get what they wanted, they put all that aside.
Billy distracted the Newmans from blackmailing Cane (Billy Flynn) into giving Newman Enterprises back to him while Phyllis charmed Cane. Once he was distracted, the redhead overpowered him, knocked him out with chloroform, and used her computer hacking skills to put Newman Enterprises in her name, and Billy his 30 pieces of silver both Newman Media and Chancellor Industries, in exchange for his help.
Phyllis assured Billy that Victoria's threats to turn his kids, Johnny (Paxton Mishkind) and Katie (Sienna Mercuri), against him were a bunch of hot air. Phyllis said her kids are mad at her all the time, and they come around. Maybe. Maybe not. Daniel (Michael Graziadei) has already threatened his mother that he'll never see Lucy (Lily Brooks O'Briant) again if she fails to give Victor his company back. (Of course, we, the viewers, never see Lucy much anymore, so how much water does this threat hold?)
Billy might not be wise to believe Phyllis on this. He's risking never seeing his kids again, and for what? Proving to Jill (Jess Walton), his mother, and Victor (Eric Braeden) that he deserves to be running Chancellor?
Billy might not only have forever alienated his children, but he's surely engaged the wrath of The Great Victor Newman. Does he really want to poke the bear? Why is Billy so keen on putting his mark on Chancellor Industries? Wasn't putting his mark on the Chancellor Mansion when he had it painted blue enough?
We can't see Cane ever forgiving Phyllis for assaulting him if for no other reason than she's potentially put Lily (Christel Khalil) and the twins, Charlie (Noah Alexander Gerry) and Mattie (Lexie Stevenson), in danger. Of all the outrageous things Phylllis has said, the one thing that is probably not outrageous is that Victor would never harm Neil's (the late Kristoff St. John) children.
Allegiances are always shifting in Genoa City. We're not going to be surprised if Cane throws in with Victor to go after Phyllis -- if Victor will have him.
There's so much corporate espionage going on in Genoa City, it's a wonder any work is getting done. It'd be nice to see the appearance of some work happening. We don't need to be bogged down in acquisitions and purchases, etc. But just who is running Chancellor, Newman, Abbott, Winters, etc., when the folks at the top are engaged in constant power plays?
The disappearance of Dominic

It's over. Thank god. We don't like seeing children in dangerous situations. And while we agree that Mariah (Camryn Grimes) would never hurt the little boy she loves to call Bowie, we also can't say that Mariah's in her right mind either.
The woman simply did not have a plan after she took Dominic (Ethan Ray Clark). Understandably, he got tired of hanging out with his favorite aunt, eating in diners, and playing hide-and-go-seek.
We weren't sure if Det. Burrow (Matt Cohen) was a good guy, pretending to be on Matt Clark's (Roger Howarth) payroll, or a truly bad cop. But now we know for sure he's a good cop because he helped Abby and Devon find Dominic.
Death and Money

It sure helps to have your own private plane when you need to go and find your missing child. The stock footage of Devon's private jet flying through the air filled us with confidence that this kidnapping tale was finally coming to a close. Dom was getting tired of driving around and listening to Mariah, who didn't really sound like she had a plan.
We felt nothing but joy watching a greatly relieved Abby and Devon reunite with their son. Interestingly, both Dominic and the show haven't forgotten that Dom's dad is the late Chance (Conner Floyd). Dominic said his dad came to him in a dream. That would have been nice to have seen. Kind of the way Don Diamont reprised his role as dead Brad Carlton when Colleen was drowning on Y&R.
But we're fine not seeing Floyd back as "dream Chance." (Not that he's not "dreamy" -- pun intended!) No, we like to think that Chance is still alive out there like Adam was after he got blown to smithereens. Or Diane was after half the cast of Y&R was out to kill her in the park (only Deacon faked her death).
Adam Newman (Mark Grossman). Diane Jenkins Newman (Susan Walters). Phillip "Chance" Chancellor IV. They're all key players tied to long-running families in Genoa City. Two of these folks have done the Lazarus bit. Here's hoping that someday the third one does, too.
V for Valentine's Day, and for Victory

Y&R didn't let Valentine's Day coming along put a halt to their business storylines. Jack (Peter Bergman) and Diane took a break from arguing about Jack deferring to Nikki when doing so has gotten the family absolutely nowhere. On Thursday's show, Diane was fit to be tied. (Read our write-up of Walters' dynamic performance here.) But on Friday's Valentine's Day show, Diane and Jack were smart enough to put Artificial Intelligence, Newman Enterprises, and everything else aside and remind each other that they're very much in love.
Poor Sally (Courtney Hope). Our hearts break for her. Billy has brought her Newman Media on a silver platter like a dog that plops down a dead bird in front of its master, hoping that it will be met with approval. He doesn't see that ill-gotten means are not what Sally wants. Sally is far from perfect. She made a mess out of her life in Los Angeles when she couldn't see the Forresters for the trees, so to speak, and was fixated on winning the heart of Wyatt Spencer (Darin Brooks).
She tied Flo (Katrina Bowden) to a radiator for either one episode or a few months, depending on whether or not you factor in that the show took a short hiatus during the early days of the COVID-19 pandemic.
The point is, Sally knows what it's like to go too far. And Billy has gone too far! We're always rooting for couples to make up. But maybe she'd be better off with Billy, who, along with Phyllis, could end up in jail for their corporate espionage. We're not sure of the exact charges, but fraud, kidnapping, assault, and being an accessory after the fact are all coming to mind.
V is also for Victoria's Victory

Brava to Amelia Heinle for the scenes in which Victoria blasted both Phyllis and Billy for their duplicitous actions. We also liked that she was keeping an eye on her baby brother, Nick (Joshua Morrow), making sure he didn't get addicted to pills. By the way, we're ready for that story to start revving up. Let Nick get hooked. Let Sharon help him kick the habit, and let that be the catalyst that gets these two back to the altar!
I love L.A.

We love Los Angeles, and apparently, Y&R does, too. We half-expected Mariah to show up in Los Angeles with Dominic as she was in her car, trying to find somewhere to go. Holden (Nathan Owens) and Claire (Hayley Erin) went back there, and Noah (Lucas Adams) tracked Sienna (Tamara Braun) back there, too.
If Y&R is going to continue to travel to sunny Southern California, it'd be nice to see them have a crossover with the folks at The Bold and the Beautiful!
Catch all-new episodes of The Young and the Restless weekdays on CBS and Paramount Plus.