Look you, Loki, to the sky! For there soars the hammer of Thor and by royal Odin's decree, it must return to my hand. Nothing may bar its way! Not even the head of Loki! 
- —Thor
Appearing in "The Grand Alliance!"
Featured Characters:
Supporting Characters:
- Heimdall
- Frigga
- Hildy
- Amora the Enchantress
- Beta Ray Bill
- Sif
- Warriors Three
- Hermod
- Tyr
- Skurge the Executioner
Antagonists:
- Lorelei
- Loki
Other Characters:
- Various Asgardians
- Mayor of New York City
- Walter "Walt" Simonson
- Louise "Wheezi" Simonson
- Lofn (Mentioned)
Locations:
Items:
- Mjolnir
- Elixir of Lofn (first time named)
Vehicles:
Synopsis for "The Grand Alliance!"
Walt & Weezie
In Asgard, Heimdall and the others discover Lorelei's spell, and concoct a plan to free him. Heimdall knows of the Enchantress' spell, and they persuade Thor to fly to Loki's castle to tell him that they have all been convinced that Loki should have the throne. Once there, though, Thor sees Lorelei and Loki in bed together, sending him into a rage, overcoming the spell temporarily. Thor hurls Mjolnir into the sky, then grabs Loki by the throat. If Loki doesn't undo the spell before the hammer returns, Loki's head will be in the way. Freed from the spell, Thor returns to Asgard and begins the task of bringing the Asgardians home from Earth.
Trivia
- Walter Simonson and his wife Louise both make appearances in the story as characters in the last panel.
- The Mayor of New York City also appears but his name is not revealed; he might or might not be Edward I. "Ed" Koch. Previously in this Thor #330, Mayor Byrne of Chicago had appeared, with her name and face mirroring the real Mayor of Chicago at the time of the publishing.