With the Parker household desperate for money following the death of Ben Parker, Peter Parker decides to continue in show business as Spider-Man. However, not only does he find it impossible to cash his paycheck (made out to Spider-Man), but the irrational editorials by J. Jonah Jameson in the Daily Bugle effectively quelch his career. Besides denouncing Spider-Man as a publicity-seeking phony, J. Jonah Jameson also publishes articles lauding his son, John Jameson, a courageous astronaut about to be launched into orbit in a space capsule. J. Jonah Jameson calls his son a "real hero."
The day of the launch finds Peter Parker at the launch site as an observer. The rocket takes off successfully, but a guidance system error causes it to go wildly off course and re-enter the atmosphere. Spider-Man appears at the launch site and offers to replace the defective 24-3B guidance unit in the plunging capsule with a spare. Because there is no way for the military to get to the capsule in time, they allow Spider-Man to try.
Spider-Man commandeers an aircraft and pilot, and together they fly toward the space capsule's re-entry point. Although the capsule is falling fast, Spider-Man manages to get hold of it with his webbing and climbs aboard. He quickly replaces the faulty guidance unit. As a result, John Jameson regains control of the capsule, gets it properly oriented, and opens its parachute. To the joy of all concerned, the astronaut is saved.
Thinking that Spider-Man has at last proved himself, Peter Parker is shocked when he reads J. Jonah Jameson's editorial in the next edition of the Daily Bugle. Spider-Man is accused of deliberately sabotaging the space capsule and staging the rescue as a publicity stunt. With public opinion turning against Spider-Man with each new editorial in the Daily Bugle, Peter Parker's position is as hopeless as ever.
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