ACT 1: His shift is over at the diner, so Peter starts heading back home, the rain pouring down on him. He quickly calls Aunt May and asks her if he can come over. It is assumed she accepts since a minute later, we see Peter, as Spider-Man, on top of a subway car heading towards Forest Hills.

ACT 2: Meanwhile, Liz Allen-Osborn, current chief operations officer of Osborn Industries, and widow of Harry Osborn, the second man to assume the Green Goblin identity, heads home to her son Normie, while pondering about the events of her still very young life. As she looks out the window of her limousine, she sees none other than the Green Goblin following her. "It's starting again!" are her exact words.

ACT 3: Forest Hills, Queens. Anna Watson's residence; which used to belong to Aunt May and Uncle Ben, before the latter died and before May moved in with Peter and Mary Jane in Manhattan. Peter enjoys a warm shower and heads downstairs to see Anna and May. Anna, still devastated about Mary Jane's passing is immediately consoled by Peter, who promises that everything is going to be fine.

ACT 4: A short time later, as Peter is about to leave, Aunt May suggests that he seek help to accept the death of Mary Jane, such as a psychiatrist. He replies that he is going to be fine. She hands him some money, which he refuses at first and which he then accepts, and he heads back into town.

ACT 5: Liz Osborn's limousine is destroyed. She lays on the cold asphalt, the Green Goblin floating on his glider just inches away. He is looking for answers.

ACT 6: Peter stops by the Daily Bugle to talk to Robbie Robertson. He unwillingly interrupts a heated discussion between Robbie and his son Randy. Robbie asks Peter if he has reconsidered Jonah's offer for a bonus. Peter replies that he has. Robbie suggests that Peter should turn in some freelance assignments that don't involve Spider-Man. He also tells Peter that he is there if he ever wants to talk to someone. Peter thanks Robbie for all that he has done and leaves the Bugle accompanied by Randy. Having noticed that something seemed to be bothering Randy, Peter asks the latter if he wants to join him for a cup of coffee. The sit down at a nearby coffee shop and talk for a while. Both are having money problems, but as Betty Brant comes running into the shop, money becomes the least of their problems. Peter finds out what us, the readers, have known for a few pages now: the Green Goblin is on the loose. Camera in hand, he rushes to the scene.

ACT 7: A short time later, in the shadow of the 59th Street Bridge, the Green Goblin is on a rampage. Liz Osborn is trying to outrun him but it is not working. The police are having too much trouble evading the pumpkin bombs to come to Liz's rescue. Peter, who arrives on the scene, immediately notices that the Green Goblin appears to have a heck of a hard time to stay straight on his glider. Peter realizes that this Goblin is not Norman Osborn, nor is it Harry since he died in Spectacular Spider-Man #200. While taking pictures, he wonders if he should bother putting on the "costume" or if he should let the police handle this. His question is answered when the Goblin grabs Liz and tosses her into a wall. Seconds later, as the Goblin is about to punch Liz once again, Spider-Man drops in on the miscreant and a battle follows. The battle extends to the nearby bridge, as both hero and villain fall onto the roof of a cable car traveling towards Roosevelt Island. The Goblin unexpectedly takes out a "razor bat" and throws it at one of the cables holding the cable car. The cable starts to come apart so Spider-Man jumps in and grabs both ends of the cable, keeping the tension in the cable, while the Goblin flees the scene. Spider-Man holds onto the cables until rescuers can get there and rescue the passengers from the car.

ACT 8: Some time later, Peter calls up Aunt May to tell her that he's doing fine and that he's got a line on a job and a great place to stay. After he hangs up the phone, he goes into a nearby alley, sits down on the ground and falls asleep, like a common homeless person. Hours later, when he wakes up, his backpack, containing his costume and web-shooters, is gone: it's been stolen.