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Your Morning Matters: For those who didn’t get THAT call

Following Lordstown Motors on the NASDAQ has been quite the RIDE lately. And there is a curious side to its market machinations.

Good morning and welcome to your Morning Matters.

It's Thursday, June 10, 2021, and the elusive Vax-a-Million prize remains elusive, at least for me. But I’m happy for the winners and even happier for all of you who got vaccinated so we can end this plague and move on with our lives. 

And a chef’s kiss to the vast majority of you out there who got vaccinated without  needing a million-dollar bribe. It’s caused me to ponder about these two subsets: those who got vaccinated because they wanted to and those who did do so because they had dreams of hitting it big. What does that say about our attitude about life and our literal pursuit of happiness?

Time magazine had an interesting take in an article, “Here's How Money Really Can Buy You Happiness,” that really made me think: "The new science of happiness starts with a simple insight: we’re never satisfied. 'We always think if we just had a little bit more money, we’d be happier,' says Catherine Sanderson, a psychology professor at Amherst College, 'but when we get there, we’re not.”

So while we all ponder the what-if — “What if Gov. Mike DeWine calls me tonight?” — the truth is that $1 million may not change our lives in meaningful ways. “Indeed, the more you make, the more you want,” the article notes. “The more you have, the less effective it is at bringing you joy, and that seeming paradox has long bedeviled economists."

What do the real experts say? "Money can't buy you happiness, but it helps you look for it in a lot more places," comedian Milton Berle once said. His contemporary, Henny Youngman, had a different take: "What's the use of happiness? It can't buy you money." And Weird Al Yankovic had this: "If money can't buy happiness, then I guess I'll have to rent it."

I am heading out for a long weekend — and I hope you enjoy yours. Justin Dennis has the honors here tomorrow, and I’ll meet you right back here Monday with an exciting Father’s Day contest!

Here's what you need to know about the Mahoning Valley today:

Following Lordstown Motors on the NASDAQ has been quite the RIDE lately. And there is a curious side to its market machinations. Some internet day-trading die-hards are holding up RIDE as a “meme stock” — an investment into a struggling company like GameStop or AMC, whose stocks made headlines earlier this year for their bleak outlooks followed by meteoric rises led by retail-trading denizens of the Reddit board WallStreetBets.

Some RIDErs are waiting for the stock’s comeback, looking to punish those who are betting on the electric vehicle startup to fail and sticking their necks out in the process. Reporter Justin Dennis has the details.

Pandemic facts

  • In the U.S.: 33,413,999 confirmed cases; 598,760 deaths, according to Johns Hopkins University & Medicine at 10 p.m. June 9.
  • In Ohio: 1,105,720 confirmed or suspected cases; 20,021 deaths.
  • In Pennsylvania: 1,206,935 confirmed cases; 27,417 deaths.
  • In the Mahoning Valley: 22,299 confirmed or suspected cases in Mahoning County; 16,503 in Trumbull; and 9,004 in Columbiana.
  • Dow Jones Industrial Average: Closed at 34,447.14, down 152.68 points, or 0.44 percent.

Other matters

You didn't win again: Gov. Mike DeWine surprised Ohio's third Vax-a-Millionaire, Mark Cline, with a visit to his Richwood home Wednesday night. According to DeWine's Twitter, he and his wife, Fran, joined Cline in cheering as his name appeared on television during the Vax-a-Million drawing. Mahoning Matters

Calling hours for Sister Jerome Corcoran will be from 3 to 5 p.m. today at the Ursuline Motherhouse on Shields Road in Canfield. Mahoning Matters

Saying "The time to act has arrived," state Rep. Michele Lepore-Hagan discusses the effort to expel former Ohio House Speaker Larry Householder. Mahoning Matters

Mayor Tito Brown hosted a news conference Wednesday to unveil the YO! app, which is geared toward helping Youngstown businesses boost their sales and reward customers for shopping with them. WFMJ

The state Route 7 bridge between state Route 14 and Metz Road in Columbiana County was completed and opened back up this week. WKBN

The Bill Sferra Fastpitch Classic is at 4:30 p.m. Monday at the Youngstown State University softball complex. The high school senior softball event showcasing players from Mahoning and Trumbull counties has two seven-inning games. The Business Journal [May require registration.]

It turns out the city of Youngstown did receive a formal offer from a Warren company to buy and develop the downtown 20 Federal Place building, but it wasn’t until the law department reviewed the documentation that it was deemed to be a proposal. The Vindicator [May encounter paywall.]

In case you missed it

There's a new urgency to Gov. Mike DeWine's push to get rid of the state's usable vaccines before the end of the month. And there are businesses offering perks to those who get the shot. And where can you get a shot this week? Reporter Jess Hardin has the details. Mahoning Matters

Your comments matter

“I’m going to retrieve my Avanti from my Warren Auto Park It spot, crack open a Chill Can and salute another Valley boondoggle.”

— Jeffrey J. Vasey, on Lordstown Motors Corp. amending its annual financial report to the SEC to include new risk factors — mainly, its ability to "continue as a going concern."

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Mark Sweetwood

About the Author: Mark Sweetwood

Mark Sweetwood has spent 37 years working in the local news business. For more than a decade, he served as managing editor of The Vindicator. He also teaches journalism at YSU.
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