Sportswire Mar 6 2010
JOLTIN' JOE
Joe Louis was indomitable during his prime, but was forced to fight long after his youth was gone.

Above we have a National Police Gazette with a boxing cover, from sixty years ago this month, with the editors’ warning to the retired Joe Louis to stay out of the ring. But what the Gazette didn’t know was that the 36 year-old Louis was under investigation by the IRS, and he suspected the outcome wouldn’t be good. In May 1950 Louis was jolted when the authorities declared that he owed half a million dollars in back taxes. With only one way to earn the cash, he cut a deal to box for prize money to put toward his debt. He fought and lost to Ezzard Charles in September, and the next year was knocked clean out of the ring by Rocky Marciano. But for all his efforts he was still in debt. The purses had been low because no one wanted to pay to see Louis—who was the first African-American considered a national hero by both blacks and whites—beaten to a pulp. After the Marciano debacle, the fight offers dried up. Louis retired again, and this one stuck. We’re going to get back to Joe Louis at a later date, because his is one of the more interesting and inspiring stories you’ll run across. His financial troubles were not so much a failure of character as a failure to comprehend the corrupting force of money, and the need to hire not just a lawyer, a manager, and an accountant, but a lawyer to watch your lawyer, a manager to watch your manager, and especially an accountant to watch your accountant. We have some Gazette interior pages below, and you can see the other Gazette boxing covers here and here. 

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History Rewind
The headlines that mattered yesteryear.
October 19
1989—Guildford Four Exonerated
The men known as the Guildford Four, who were imprisoned for a series of bombs attacks on British pubs that left five dead and 100 injured, are decreed not guilty after an investigation reveals that police colluded in doctoring statements that appeared to incriminate the defendants.
October 18
1968—Olympic Committee Suspends Carlos and Smith
The U.S. Olympic Committee suspends African-American track & field athletes Tommie Smith and John Carlos for saluting the crowd with raised, gloved fists during a medal ceremony at the Mexico City games. The salutes represented the black power and civil rights movements in the United States. Both athletes also received their medals shoeless to represent black poverty.
October 17
1933—Capone Sentenced to Prison
Chicago organized crime boss Al Capone is convicted of income tax evasion after all other attempts to tie him to an assortment of crimes, from the mass murder of the St. Valentine's Day Massacre to widespread violations of the Volstead Act, fail. He is sentenced to eleven years in federal prison and, cut off from the outside world while on Alcatraz Island, his power is finally broken.
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