Panel 2: It feels like a throwaway line, but the fact that this guy’s boss from Pyramid Deliveries is the one who had him find a reliable hitman points right back to Adrian Veidt – Ozymandias – whose Egyptian motif is rife with pyramids and who is the owner, through a number of front companies, of Pyramid Deliveries.
It is also worth noting that this is not the first time we have seen this character. He showed up at the newsstand in Chapter V, page 8 to charge his Pyramid Deliveries van at the electric charger the younger Bernie has been using to keep himself warm while he reads the Black Freighter comic.
Panel 3: Notice the body language of Nite Owl, compliments of artist Dave Gibbons, as he notices the knot-top who seems intent on not watching the torture scene that everyone else in the bar is interested in. This could get lost with the focus on Rorschach, but it’s these little details that help to elevate Watchmen.
Panel 4: This conspiracy revolving around the freight handlers mirrors the conspiracy to take out all of the costumed adventurers, which makes sense as the same man – Veidt – is behind both of these conspiracies.