Meet the grandfather of ten who sold the winning Powerball ticket
The Daily Article
The Denison Forum
4.9 • 576 Ratings
🗓️ 11 November 2022
⏱️ 8 minutes
🧾️ Download transcript
Summary
Joe Chahayed owns Joe’s Service Center in Altadena, CA, where the $2.04 billion Powerball ticket was recently sold. He’ll receive a $1 million bonus, and how he plans to spend the money isn’t surprising after hearing his story. In today’s Daily Article, Dr. Jim Denison also considers the urgency of personal godliness for all Christians.
The Song Tell the Story, our 2022 Advent devotional guide, is available at http://www.TheDailyArticle.org
Author: Jim Denison, PhD
Narrator: Chris Elkins
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Transcript
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| 0:00.0 | Today is Friday, November the 11th, 2022. |
| 0:07.0 | Welcome to the Daily Article podcast. |
| 0:09.0 | Today's article is written by Dr. Jim Denison and narrated by Chris Elkins of the Denison Forum. |
| 0:15.0 | From Psalm 19, verse 7, The Law of the Lord is Perfect, reviving the soul. Quote, I never collect welfare, |
| 0:24.6 | I never collect Medicare, I never collect any money from the government. All what I do, |
| 0:30.7 | I work hard, seven days a week, I raised my kids, graduated from college, and bought a house, |
| 0:42.8 | and I bought a business, all because I work hard and become an honest man." This is how Joseph Chahid described himself to reporters after selling the winning $2 billion-plus powerball ticket this week. |
| 0:53.3 | Mr. Chahid immigrated from Syria in the 1980s |
| 0:56.9 | with his wife, two children, and around $14,000 to his name. Now a grandfather of 10, he owns |
| 1:03.9 | Joe's Service Center in Altadena, an unincorporated community northeast of Los Angeles. For selling the winning ticket, he will receive a Powerball bonus of $1 million. |
| 1:17.1 | Unsurprisingly, he plans to spend it on his five children and donate some to the community. |
| 1:22.0 | In Dan Levy's, Maxim's For Thinking Analytically,ically, the wisdom of legendary Harvard professor Richard |
| 1:30.0 | Zekhouser, Levy lists and discusses a number of insightful and practical axioms taught by Richard |
| 1:37.9 | Zeckhouser, the noted economist. Among them is this observation. Uncertainty is the friend of the status quo. Levy explains, |
| 1:47.0 | when there is uncertainty about the value of the choices we're considering in a given decision, |
| 1:53.0 | we tend to stick with our initial or previous choice. He cites credit cards, bank accounts, |
| 1:59.0 | gym memberships, and even toothpaste brands as examples. |
| 2:03.2 | Such status quo bias is often appropriate as Levy notes, as long as we consider the original |
| 2:10.7 | brand we chose to be sufficiently good and the cost of assessing whether to change not worth |
| 2:17.1 | it, it is rational to stick with our initial |
| 2:19.7 | choice. However, he adds, that one can take advantage of status quo bias to help people make |
| 2:26.6 | better choices by setting a default option that will be good for the person making the decision. |
... |
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