PREVIOUSLY: In Spectacular Spider-Man #246, Dr. Ashley Kafka is told by Senator Roeberg that she is no longer the director of the Ravencroft Institute and John Jameson is fired on the spot for doing such a poor job as Head of Security; both as a result of the Chameleon's escape. In another part of the City, the Spot, the Gibbon, the Kangaroo, and the Grizzly break into a bank as a group but when they realize that their ultimate goal is not the same, they split into two groups; the Spot and the Kangaroo and the Grizzly and the Gibbon. Spider-Man, who is web-slinging nearby, catches wind of the break-in and tries to put a stop to it. Unfortunately, Spider-Man underestimates his opponents (all four of them) and is captured. Fortunately for Spider-Man, the quartet argues about what to do with him and a fight ensues during which the Spot and the Kangaroo are neutralized. Spider-Man comes back to and agrees to let the Grizzly and the Gibbon go and gives them a second chance to change their destiny. As the issue concludes, J. Jonah Jameson is found inside an elevator badly bruised and battered to within an inch of his life, courtesy of the Jack O'Lantern.

In Spectacular Spider-Man #248, Dr. Ashley Kafka puts John Jameson under hypnosis and, together, they discover that it was the Jack O'Lantern who tampered with his mind. Meanwhile, the Jack O'Lantern breaks into the Jameson's penthouse apartment and steals a book of poems that belongs to Jonah, which he then delivers to Jonah at the hospital to show him how easily he can get to his loved ones. The Jack O'Lantern then reports to the man who employed him to commit these acts – the man whose motive was to put J. Jonah Jameson in an extremely vulnerable frame of mind – the resurrected Green Goblin – none other then Norman Osborn! While all this takes place, Spider-Man is occupied battling jungle beasts set on him by another seemingly resurrected foe – Kraven the Hunter!

Tied to a chair, John Jameson growls and moans like a wild animal to be let go. Dr. Ashley Kafka and Spider-Man know better than to release him. They also are aware that, should he be set free, John would be a danger to himself and to others. Dr. Kafka knows of only one way to help John and it involves journeying back into his mind. Looking deep in his eyes, she begins to hypnotize him once again. She tells him to follow her voice so that it can guide him out of the darkness of his own guilt and into the light. John does just that but, in doing so, he fully transforms into the Man-Wolf and breaks free from his shackles. Spidey comments that it is not working, just as the Man-Wolf leaps toward Dr. Kafka. Dr. Kafka explains that it is working just perfectly and that the transformation is only temporary. As the Man-Wolf continues to draw near her, she tells Spidey that the only way John can get rid of his inner demons is to first set them free. Realizing that the Man-Wolf is going to tear right through Dr. Kafka, Spidey tackles the wild beast before it can get to her. As the twosome wrestles on the ground, Dr. Kafka uses hypnotherapy on John/Man-Wolf and, after a long convincing talk, she finally manages to persuade him to revert back to his human self.

Liz Allan-Osborn cannot believe it. Standing in her office, on the other side of her desk, is Norman Osborn. Liz is in disbelief and cannot understand how it is possible for him to be alive. She actually gets angry with him for not "staying dead". Norman coldly recommends that she calm down and goes on to mourn the loss of his son, only to then rejoice in the fact that Little Normie, his grandson, is there to carry on the family traditions. Furious, Liz tells Norman that she will not let him destroy her son's life like he did Harry's. Norman replies that he understands her concerns and, sitting down at her desk – which he seemingly claims as his – he adds that he will have Little Normie or no one will.

At the hospital, Flash Thompson sits on his bed, his arm in a cast, his head bandaged. To Flash's surprise, in walks his sister Jessie, who states the obvious, which is that he is in a heap of trouble. Flash argues that it was only a little car accident and implies that it was the kid's fault that he crashed his car. Having heard such "garbage" from their dad time and again, Jessie gives Flash hell for refusing to accept blame, just like their dad used to do. She then argues that the only reason he called her tonight is that he is too ashamed to tell his friends that he has a drinking problem. She then turns and starts to walk away but Flash throws himself in her arms and begs her to stay and help. Jessie reluctantly agrees and tells Flash that she will take him home. Before they can leave however, a police officer shows up and arrests Flash for driving under the influence.

At the Kravinov Mansion, the new Kraven pours himself a drink and toasts a picture of himself. Just then, Calypso shows up and puts the move on him. This time, he does not reject her and soon, they are "doing it". As they sit on a chair, post-coittally, Calypso expresses her love, which prompts Kraven to start laughing hysterically. When she asks why he is laughing, it is revealed that he is not Kraven; he is his son, and he has no need for her. Infuriated, Calypso launches herself at him but he deflects her attack. As his lion, tiger and gorilla surround him, he recommends that she leave now as he does not know how long he can restrain them. Calypso angrily leaves but vows to get revenge.

At the Parker home in Forest Hills, Queens, Mary Jane is looking through an old photo album, reminiscing about her life and Peter's and the events that have transpired over the years. She hopes that their love will endure whatever Norman Osborn throws at them.

Two weeks later, at a gala for the re-opening of the Osborn Foundation, Norman Osborn – keynote speaker for the event – makes a speech and proceeds to take questions for the reporters assembled. When asked why it was reported that he was dead for all those years, Norman explains that he had to fake his own death because his life was threatened by none other than Spider-Man. While he hid in Europe, his son mysteriously died, his daughter-in-law became burdened by the weight of running his companies, and Daily Bugle reporter Ben Urich put a book out in which he claimed Norman was the Green Goblin. All these events, added to the previous month's attack on the Daily Bugle by a madman in a goblin suit, claiming to be him, forced him to leave the shadows to embrace life again and restore the Osborn name. This, he would never have had the courage to do, had it not been for the support of his old friend – publisher of the Daily Bugle – J. Jonah Jameson. With that said, Jameson joins him on stage and Norman continues explaining that, using the resources of both the Daily Bugle and the Osborn Foundation, they are going to make a difference in this grand and glorious city. In the crowd, Dr. Ashley Kafka comments to Robbie Robertson and his wife Martha that she cannot believe that Jonah is going along with this charade. Robbie remarks that Jonah would make a deal with the devil himself to save his paper, implying that it is exactly why Jonah is Norman's lapdog. Martha naively comments that maybe Norman is telling the truth and that the press has been smearing his name. Peter Parker, who has just arrived accompanied by Mary Jane, tells Martha that Norman is the one who has been doing the smearing and that anything he touches is left dead and corrupted. Robbie is surprised that Peter showed up for this charade and points that out to him. Peter replies that sometimes, you have to look the monsters in the eyes. As if on cue, Norman, who has noticed the arrival of Peter and Mary Jane, comes over and joins the conversation. As cameras flash around him, Norman relates the special relationship his son Harry used to have with Peter and how they used to share an apartment together in one of his buildings. Norman then taunts Peter with the fact that his then-girlfriend, Gwen Stacy, was killed by the Green Goblin and that he intends to dedicate his life to finding this murderer, not just for himself, but also for "dear Gwen". Peter is furious and has to be restrained by Robbie Robertson. Norman then turns his attention to Mary Jane and comments that he is really happy that she is there tonight. MJ is speechless and does not know what to say to him. One of the reporters asks Norman if it is true that his son Harry adopted the identity of the Green Goblin for a short time. Norman replies that it is true and that it was the fact that he (i.e. Norman) was being persecuted that led Harry's fragile mind to snap; another victim of the true Goblin's evil and Ben Urich's vicious smear campaign. Watching Norman strut away, Peter comments to Robbie Robertson that he would like to smear Norman across a wall. Robbie reminds Peter that there is no concrete evidence linking Norman to the Green Goblin, but that does not mean that they cannot use the resources of the Daily Bugle to find that proof and bring Norman down. Peter replies that it might be difficult, as it appears that Jonah has gone over to the other side. Nearby, John Jameson confronts his father about his recent team-up with Norman Osborn and asks if he was bullied into selling him the Daily Bugle. Somewhat feeling ashamed, Jonah replies that whatever he is doing, he is doing it for him (i.e. John), for Marla (his wife) and for love.

Flash Thompson stumbles across his apartment, which is filthy and messy, the result of too much brooding and moping. His arm still in a cast, his head bandaged, he is lucky to be alive after such a terrifying car accident. Yet, he fails to understand the seriousness of his actions, even after spending the night in jail, getting his license revoked, getting hit with a fine that wiped out is bank accounts, and losing his phys ed teaching job. He is confident that he will bounce back and get his life back on tracks; however, he is afraid to go out of the house and is ashamed to tell his friends about what happened. His sister Jessie has tried to help him out, but Flash refuses to admit that he has a drinking problem and is becoming annoyed with her telling him to get into a twelve step program. He thinks he can fix it on his own, without any help whatsoever. Flash suddenly flips out and starts destroying his trophy collection, shattering a nearby mirror with one of them. As he looks into the shattered mirror, he sees the face of his deadbeat father and realizes that it is time to pay him another visit.

At the Kravinov Mansion, a very much naked Alyosha Kravinov (a.k.a. the new Kraven) is crouched on the ground, as his lion, tiger and gorilla surround him. Suddenly, the three beasts attack him all at once. Alyosha fends off their attack and takes them down one by one. As their battle concludes, it is revealed that it was only some sort of exercise routine for Alyosha, and he thanks his pets for the "workout". As he puts his robe back on, Alyosha tells his pets that it is time to go to bed, because they all have huge plans the following day.

Back at the gala for the re-opening of the Osborn Foundation, Norman Osborn donates 500k to a representative of an organization that works on getting young people off drugs and comments that he wished this group had been there when Harry became addicted, as it was only the grace of God and the love of his family that pulled him through. Grabbing hold of Little Normie, Norman explains that he will not let that happen to him. Then, speaking to the crowd, Norman continues to gloat that he is not concerned about himself, he is concerned about the future and what kind of world his grandson is going to grow up in. Nearby, Mary Jane and Liz Allan Osborn watch in disgust as Norman continues to "milk" the crowd with his "vision" for the future. Just then, it is announced that dinner is served in the main dining room. Little Normie in his arms, Norman walks toward the dining room with the rest of the crowd, only to be accosted by Liz Allan-Osborn, asking him to hand over Little Normie, as it is time for them to go home, being that it is almost past his bedtime. Norman tells Liz that it would mean so much to him if Little Normie could stay a while longer, because he wants him to remember that evening for the rest of his life. Seeing as she will have a difficult time getting Norman to hand over her own son, Liz reluctantly agrees to stay longer. Foggy Nelson, Liz's boyfriend, tells Liz that she should not let Norman get away with that; after all, she is Little Normie's mother and she should be calling the shots, not Norman. Mary Jane joins the conversation and tells Liz that Foggy is right and that, based on every cruel thing Norman has ever done to them over the years, she should not let Norman even put a hand on Little Normie. Angry with Mary Jane for making such a comment, Liz angrily replies that, since she does not have any children, she wouldn't know the first thing about it; therefore, she shouldn't be lecturing her about what she should or should not do with her son. Foggy comes to Mary Jane's defense, telling Liz that her comment was totally uncalled for, only to be slapped in the face and being told to never contradict her in front of other people. As Liz walks away, Foggy wonders what he has done to deserve that. Mary Jane turns to Peter and asks him if he knows what got into her. Peter explains that it is all Norman's fault, as he has a way of twisting people; so she should not blame Liz, she should blame Norman. While all this takes place, Norman Osborn watches on from the shadows.

A short time later, Peter and Mary Jane arrive home to find that their house has been ransacked. Aunt Anna, having just returned from bingo, is visibly shaken and wonders if whoever did it, could still be in the house. Peter rushes upstairs to check the rest of the house and, as he rummages through the remains of what used to be his and Mary Jane's bedroom, he finds a Green Goblin action figure holding a small sign that reads "Gotcha!". Peter is obviously infuriated.

Norman Osborn, pacing around his penthouse apartment, pours himself a drink and sits on the couch. Just then, Spider-Man comes bursting through the window and literally kicks him off the couch. Before Norman can even retaliate, Spidey grabs hold of him and starts to brutally pound on him, telling him to leave him and his family alone, as he's had enough of his mind games and manipulations. For some strange reason, Norman does not fight back.

Flash Thompson pays a visit to his dad at his childhood home. He finds his dad sitting at the kitchen table and asks if he is contemplating his sins. Before his father can answer, Flash goes on a verbal rampage, blaming his father for his drinking problem. However, as he knocks his father off his chair to the ground and looks at him in the eyes, he comes to the realization that he is the one to blame for his drinking problem, not his father. Releasing his father, he quickly takes off, rushing right past his mother, who heard the commotion and came running in. As Flash's mother helps her husband back to his feet, he asks her what Flash was talking about.

Back at Norman Osborn's penthouse apartment, Norman reveals to Spider-Man why he is not fighting back. Pointing to a video camera hung from the ceiling, he explains that Spidey's attack has been captured on tape, for the entire world to see. Before Spidey can say anything, Osborn's security team burst into the room, their weapons drawn. Spidey quickly storms out the window and swings off into the night. As he comes to rest on a rooftop, he is visibly angry for allowing himself to sink to Norman's level of rage and violence, and walking blindly into his trap. Spidey looks behind him and sees the past: Gwen and Harry and Ben Reilly, all dead because of the Osborn curse. He then looks to the future and sees the same appalling curse hanging over the heads of Mary Jane and Aunt Anna, and many other innocent lives. He wonders how he is going to fight it and how he is going to stop a river of madness that runs so fast...so far...so deep.

To be continued.