Steve Grzanich has the business news of the day with the Wintrust Business Minute.

There’s a CEO change at Portillo’s. The company says Michael Osanloo is leaving effective immediately. Crain’s reports the change comes amid an ongoing challenge by an activist investor demanding changes at Portillo’s. Michael Miles Jr., who’s been serving as Portillo’s chairman, will take over as acting CEO. The Oak Brook-based company’s expansion has hit some speed bumps and has been slower than leadership had hoped.

Also, more job cuts are being announced at Capital One following its purchase of suburban-based Discover Financial Services. Listen for more below:

Segment 1: Ilyce Glink, owner of Think Glink Media, joins John Williams to talk about where mortgage interest rates are right now, the uptick in people refinancing, her thoughts on the Fed decision to cut rates, how many cuts she expects before the end of the year, the Bureau of Labor Statistics postponing the release of a key annual report central to future inflation data, and Nvidia planning to invest $100 billion in OpenAI as part of data center buildout.

Segment 2: Jim Dallke, Director of Communications, TechNexus Venture Collaborative, tells John about what Chicago tech scene will possibly look like in 2035, the opening of Hyde Park Labs, and a startup providing AI to warehouses.

Segment 3: Ryan Kunkel, president of Third Road Management, talks to John about The Back-to-Business Checklist. What should business leaders be prioritizing as we head towards 2026?

Dave Schwan has the business news of the day with the Wintrust Business Minute.

The iPhone 17 went on sale worldwide today. It’s part of a family of phones that includes the Pro, Pro Max and the iPhone air, the thinnest model ever. iPhone 17 preorders surpassed orders for the iPhone 16 inside the first minute.  

Also, the first company to locate in Rivian’s new supplier park in Normal, Illinois is the manufacturer OPmobility. Listen for more below:

Segment 1: Michael Miller, Economics Professor, Western Washington University and Professor Emeritus at DePaul University, joins John Williams to talk about the impact of student loan repayment and its impact on the economy, and what will happen now that the Fed has cut interest rates.

Segment 2: Kara Demirjian Huss, Senior Vice President at TCCI Manufacturing, and Founder and President, DCC Marketing, chats with John about what their marketing firm does, and the success of their road safety campaign, “It’s Not a Game Illinois.”

Segment 3: Eric Albert, CEO of PHI Studio, tells John about a new virtual reality venue opening up in Rosemont next week!

Segment 1: Stephen Kates, CFP, Financial Analyst, Bankrate, joins John Williams to talk about the Fed decision to cut interest rates and what that means for your money moving forward.

Segment 2: Abrar Al-Heeti, Senior Technology reporter for CNET, tells John everything we should know about the iPhone Air, and President Trump pushing back the TikTok ban.

Segment 3: Emily Stewart, Senior Correspondent, Business Insider, tells John how loyalty programs are costing you money.

Segment 4: Michael Edwards, President and CEO, Chicago Loop Alliance, talks to John about a new campaign, ‘Falling for The Loop,’ which encourages visitors to explore Chicago’s city’s iconic arts and culture scene.

Nationally syndicated financial columnist and author Terry Savage joins John Williams to talk about Medicare plans, Wall Street waiting on the Fed decision, and to answer all of your financial questions. Terry also offers her instant analysis of the Fed lowering interest rates for the first time since December.

Segment 1: Tom Gimbel, job expert and founder of LaSalle Network, joins John to talk about the challenge of finding a job right now, the impact that AI is having on the labor market, and what he expects after the Fed cuts interest rates. Tom also shares why he believes we are in a recession.

Segment 2: Philippe Weiss, President, Seyfarth at Work, joins John to talk about the rise of ‘Managerial AI’ and how companies and employees are handling this change in the workplace.

Segment 3: Lucy Baird, the sixth-generation member of Baird & Warner, joins John Williams to talk about the steps needed to make housing more affordable in the Chicago area.

Segment 4: Wicker Park resident Aleah Arundale, creator of the Facebook group, Immigrants HELPING Immigrants, joins John to talk about why she created the Facebook group, what led her to want to help asylum seekers that found themselves in Chicago, and how she has created a welcoming community by her actions.

Segment 1: Ilyce Glink, owner of Think Glink Media, joins John Williams to talk about stocks being up on the expectation that the Fed will cut interest rates, and why President Trump wants companies to stop reporting earnings on a quarterly basis.

Segment 2: Jim Dallke, Director of Communications, TechNexus Venture Collaborative, tells John about Britannica Group suing Perplexity AI over online summaries, and PsiQuantum raising $1 billion for quantum computers in Chicago and Brisbane, Australia.

Segment 3: Amy Rasmussen, Executive Director of Chicago Arts Partnerships in Education (CAPE), tells John what their non-profit organization does, how CAPE creates a culture of learning through the arts, the types of programs CAPE offers, their recent $200,000 grant from the Illinois Criminal Justice Information Authority’s violence intervention and prevention program, and how they plan to use those funds.

Segment 1: Paul Nolte, Senior Wealth Advisor and Market Strategist, Murphy & Sylvest, joins John to talk about the latest employment and inflation data, what the data means for Fed policy, how much the Fed will cut rates, consumer sentiment falling, and what he’s telling his clients right now.

Segment 2:  Mike Spriggs, Head of Consumer Insights at Fiserv, joins John Williams to share details from August’s Fiserv Small Business Index.

Segment 3: Anthony Qaiyum, President, Merz Apothecary, joins John to talk about the family-owned business that is celebrating their 150th anniversary this year! Anthony talks about their business, how they are an atypical pharmacy, what they consider to be their strength, how many people they employee, and why they continue to be a staple in the Lincoln Square neighborhood.

Segment 1: Steven Esposito, President of Yellowstone Wealth Management in Lake Forest, joins John to talk about markets hitting fresh new highs after hot inflation data will likely trigger a Fed rate cut. Steven is encouraged by the broadening of the market and explains why he’s not worried about inflation or the labor market.

Segment 2: Jason Hiner, Editor in Chief, ZDNET, joins John to talk about what we need to know about Apple’s new products, and to give a workaround to help you upgrade to Windows 11 without having to get a new computer

Segment 3: Tim Paradis, Future of Work Correspondent, Business Insider, joins John to talk about why the ease of applying for jobs is making it harder for applicants to stand out.

Segment 4: Isaac Reichman, Director, Corporate Communications, Choose Chicago, joins John to talk about the launch of the “All for the Love of Chicago” social media campaign.