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We go to Agnes telling Skinner off and Skinner says he's narrating but Agnes thinks it's something else.
Skinner's 2nd story from the room pertains to Jimbo Jones being a rich boy moving to Springfield, dressing prim and proper and wants to be James Jones, and dealing with bullies who actually are highly intelligent nerds.
Jimbo's shirt and hair are ruined by the bullies/nerds and their science experiments and thus why Jimbo wears the skull shirt and woolen cap (They were both Willie's clothes and Willie was more insulted that he has to give up the cap cause he pooled it off The Monkees' Mike Nessmith's head).
Jimbo, Dolph and Kearney meet up and want to get back at the nerds but Bart suggests they just use their heads and pound the nerds. It works but not before Bart is victimized too and the bullies want to pool their money into dot com stock.