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Quote1 It's a new day. So listen carefully... This is how it's going to be. As you all know, I, Norman Osborn, have been given the keys to the kingdom. Tony Stark is out. S.H.I.E.L.D. is no longer. I am heading a new world peacekeeping task force that includes the Initiative and the Avengers franchises. And as far as I am concerned, that is good news for all of you. ... You'll tell me what it is you need, and I'll do that thing. And in return? ... In return, loyalty. Camaraderie. Brothers in arms. ... However, if any of you would sink to your basest instincts...you must know that whatever you have gained from this relationship...can easily be taken away. Like that. By force. Quote2
Norman Osborn

Appearing in 1st story

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Synopsis for 1st story

Emma Frost wakes from a nightmare to a knock at her and Cyclops’ apartment door. Thunderbolt agents are there to escort her to see Norman Osborn in New York. Emma lands at Avengers Tower sometime later and heads to one of the sub-basements. There, she is greeted by Doctor Doom seated at a conference table. Namor is next to arrive, followed by The Hood and Loki. Once everyone is gathered, Norman Osborn enters the room.

Osborn tells the group that in his new position of power, and in return for their loyalty, he can offer each of them something they want. And if any of them were to turn on him, he has a “friend” - revealed to the group only in shadow - who will set them straight. But, Osborn says, unlike Nick Fury and Tony Stark, he wants to work with them.

Osborn then explains what he can do for each of them. He tells Emma that some in the government have proposed rounding up the remaining mutant population into concentration camps, but that he will stop it from happening as long as she cooperates. Doom will be extradited back to Latveria, on the condition that he stays there. The Hood and his gang will be given immunity from all future prosecution, so long as they register with The Initiative, refrain from attacking government facilities, and do Osborn’s dirty work when he calls. To Loki, Osborn promises Asgard.

With the meeting over, each attendee leaves in turn until only Doom and Namor are left. Doom states confidently that the two of them simply need to wait for Osborn to inevitably self-destruct. Then, they will divide the planet between themselves: the land to Doom, and the oceans to Namor.

Back at Thunderbolts Mountain in Colorado, Osborn directs his agents to pack everything up to be moved to Avengers Tower. He is interrupted by an irate Swordsman, who accuses Osborn of screwing him out of a deal to be released from his Thunderbolts contract. Swordsman threatens to go public with Osborn’s misdeeds during his tenure as director of the Thunderbolts, and Osborn finally snaps. He grabs Swordsman by the throat and runs him through with his own blade, then tosses his body out a window and down the mountainside. Osborn begins to maniacally scream that he is in charge. But is he, or is the Goblin the one in control?

In San Francisco, Emma Frost’s nightmare recurs - Kitty Pryde’s voice calling out, asking Emma why she didn’t help her.

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