|Cover Art:||Steve Geiger|
Ned Leeds visits Lance Bannon, looking for a photographer to accompany him to Europe on a story. He finds Bannon's walls covered with photos of the Hobgoblin.
Going to Betty Leed's apartment, Lance Bannon sees Flash Thompson at the window. When Betty walks into the apartment, she hears the sounds of a fight. The Hobgoblin has an unconscious Thompson by the throat. "For the many crimes you've perpetrated against me--I want you awake that you may see the true face of your destroyer!" And the Hobgoblin pulls off his mask just as Betty calls out Flash's name. The Hobgoblin whirls. Betty sees his face, screams and faints. Thinking, "I did not intend to involve her in this!", the Hobgoblin blasts through the window.
The Jack O'Lantern is next on the Hobgoblin's social calendar. He wants retribution for Jack's desertion. "You lunatic!" snaps Jack. "You saw Spider-Man and wanted to attack him!" The battle is unexpectedly interrupted when one of the Rose's men, hidden in the shadows, opens fire. The Hobgoblin retreats. Jack O'Lantern demands he come back and fight. "Return I shall, Jack O'Lantern!" replies the Hobgoblin. "Wait and wonder!" (And, except for his flashback appearance in ASM 289, this is the last time we will ever see this version of the Hobgoblin).
The Kingpin's return was not without cost. Unbeknownst to the heroes, he had to make a deal with the feds, which involved sacrificing his lieutenants in the organization. Thinking he means to kill his henchmen, DareDevil, the Falcon, the Black Cat and Spider-Man burst into the meeting. But Spider-Man figures it out: "We arrive and 'save' the lieutenants! The cops bust 'em, and since we 'saved' them from Kingpin, these dopes roll over and play state's evidence!" The Kingpin will have to rebuild his organization, but he will still be in business. Frustrated, Spider-Man tracks the Kingpin down to warn him: "One day, Mister! Me and you! One day you're gonna push me too far! And, on that day, Heaven help us both!"