Summary: Laraine Newman analyzes election results. Baba Wawa (Gilda Radner) admits that Tom Snyder's hair bothers her. John Belushi rants about the weather.
Recurring Characters: Barbara Walters.
John Sebastian performs "Welcome Back"
Recurring Characters: Joe Cocker.
Summary: Lorne Michaels offers a check for $3,000 for The Beatles to appear on SNL.
Note: According to legend, John Lennon and Paul McCartney were watching SNL together, and considered it might be fun to take Lorne Michaels up on his offer. Neil Levy was actually dispatched to the lobby in case any members of The Beatles did show up and weren't recognized by the elderly security guard. Had any of The Beatles show up, Michaels said the joke would have entailed their not being able to play because union rules wouldn't allow them to use studio equipment. Michaels ups the ante a few episodes later, and gag references would be made in later years when George Harrison and Paul McCartney appeared individually as musical guests.