Using all my world experience I think this is what went down over the years in Jed and Jim talks.
"Well,ha-ha I wasn't born rich like you"
"Hey" said Jim to Jed down the hall "Richy Rich,I need to talk to you".
" I need to talk in private to people who know football" said Jim explaining why Jed wasn't invited.
"Glee was on,I figured you were busy" he told Jed on why he wasn't returning phone calls.
" Do use a left handed football?" said Jim to Jed.
"Apologize for THAT" said Jim as he pointed to Jed's groin area.