At the start of this issue, Spider-Man is reading a notice in the Daily Bugle, which offers a five thousand dollar reward for the capture of the Schemer. Spider-Man then goes looking for thugs to question about the Schemer's whereabouts. After accidentally blowing a cop's cover, he finds one of the Schemer's thugs, although the thug tells him that the Schemer changes hideouts each day.
Having hit a dead end, he changes to Peter Parker, and goes to visit Gwen, who was almost hit by a truck last issue. Gwen wonders why Peter is always so secretive, and Captain Stacy agrees, pointing out the Peter wasn't even scratched by the truck which almost hit them both. Since they're getting suspicious of him, Peter makes excuses and leaves.
Meanwhile, in a high-tech car, the Schemer goes to attack a group of the Kingpin's thugs. After most of the group is defeated, the Schemer tells the remaining thugs to go tell the Kingpin that the Schemer is out to get him. Although the Kingpin's wife, Vanessa, tries to convince Kingpin not to go back to his violent ways, the Kingpin ignores her.
Shortly afterward, Spider-Man eavesdrops on some of the Kingpin's thugs, and hears them saying that the Schemer has a high-tech car. Spider-Man finds that exact car just a few minutes later, but his attempt to attack the car is futile. After the car leaves, Spider-Man follows its tracks in the snow to the Kingpin's mansion.
Inside the mansion, the Schemer is confronting the Kingpin, when Vanessa steps between the two, warning the Schemer not to fight the Kingpin, since he doesn't know how dangerous the Kingpin is. However, she sees something in the Schemer's eyes, which makes her pause. At this moment, Spider-Man sets up his camera before bursting in, looking for the Schemer and his reward. However, the Kingpin immediately attacks him, leaving the Schemer for later. During the fight, the Kingpin realises that both the Schemer and his wife Vanessa are gone, and leaves Spider-Man to continue the fight another day.