Wintrust Business Lunch

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

New research shows Atlanta is the top city destination for Black residents who’ve decided to move out of Chicago. Texas is the top state destination. The findings are included in a study by the University of Illinois Chicago Institute for Research on Race & Public Policy. Chicago’s black population has dropped by one-third since 1980 but the black population in the greater metro area has remained stable. The study, reported by Crain’s, shows 9% of black residents who left Illinois moved to Texas. Houston and Dallas were the most popular cities for those who moved to Texas. 6.8% of black movers went to Atlanta. White movers chose Phoenix. Latino movers most frequently chose Houston. 

Also, there’s a new publisher at the Chicago Reader. Listen for more below:

Segment 1: WGN Radio Business Reporter Steve Alexander gives an update on the top business stories of the day.

Segment 2: Longtime Chicago radio veteran Harvey Wells, Founder, Lower Tech Bills, talks to John about how he helps customers lower their internet, cell phone, and television costs. Harvey talks about holiday scams, the best deals for Black Friday, and answers all of your tech questions.

Segment 1: Ilyce Glink, owner of Think Glink Media and Best Money Moves, joins John Williams to talk about why the markets are moving so well, why she believes this is an ‘owner’s economy,’ Tesla joining the 1 Trillion Club, and why we should be concerned about our public debt.

Segment 2: Chip Lupo, Writer and Analyst, WalletHub, tells John the results of WalletHub’s 2024’s Best & Worst Places for Veterans Report and Military Money Survey.

Segment 3: Dawn Melchiorre, Executive Director of Cradles to Crayons Chicago, joins John to talk about Cradles to Crayons and their 2024 Gear Up for Winter campaign that hopes to collect 50,000 coats to keep Chicagoland children warm this winter.

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

Shares of AbbVie have dropped sharply after disappointing trials for its drug to treat schizophrenia. The drug, emraclidine, failed to meet the primary goal of treating symptoms of the mental illness. The drug was part of two mid-stage trials which shows no statistically significant improvement in the severity of symptoms. AbbVie says it needs to analyze the data to determine next steps. The North Chicago-based company’s shares fell as much as 12% at one point, the biggest decline in three years. The stock had been up nearly 30% this year as of Friday’s close. 

Also, car-maker Stellantis, facing a strike by workers at its Belvidere plant over a stalled reopening of the facility, says it will cut hundreds of workers at a warehousing facility in Detroit. Listen for more below:

Segment 1:  Craig Bolanos, Co-Founder and CEO of Wealth Management Group, joins John Williams to talk about why the markets are continuing to rise, what he reminds investors when the market is high, the potential trade issues in 2025, his reaction to yesterday’s Fed decision, and the economic risks we need to watch moving forward.

Segment 2: Kathy Scherer, Managing Partner, Deloitte Chicago, tells John about their new home for business innovation, the NextGen Greenhouse. Kathy explains how the immersive space helps clients, the new technology used that allows clients to see things differently, some of the highlights of the space, and how the space has helped their clients so far.

Segment 3: Jennifer Frank, Insulators Local 17, Part Time Instructor, Apprenticeship School, talks to John about what insulators do, what an apprenticeship program is like, who they would like to see working in the trades, the typical wage of an insulator, the types of jobs available, and how their industry is faring right now.

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

Chicago’s Molson Coors says its annual net sales will fall this year. The beverage company blames what it calls “a challenging consumer environment” in the U.S. It’s brands include Coors Light and Miller Lite. Molson Coors says its sales will fall about 1% this year compared to last year. Third quarter net sales were down 7.8%. Other brewers are also struggling in the U.S. market because of depressed consumer spending, including Anheuser-Busch-InBev and Heineken.

Also, Chicago-based US Cellular will sell some of its spectrum assets to AT&T for $1 billion. Listen for more below:

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

A new research center operated by the University of Illinois Chicago will study the public health impact of climate change and ways to intervene that are nature-based. The UIC Center for Climate Change & Health Equity is backed by funding from the federal government. The center will receive $4 million over three years from the National Institutes of Health. The NIH’s Climate Change & Health Initiative is funding 21 centers nationwide including the one in Chicago. A team of experts in public health, medicine, engineering, urban planning and biological sciences will consider interventions like green infrastructure to minimize the consequences of climate change. 

Also, United Auto Workers in Belvidere will vote today on whether to authorize a strike against Stellantis. Listen for more below:

Segment 1: Jack Ablin, Chief Investment Officer, Cresset Capital, talks to John about how well the market has performed since the election, what’s driving the rally, his concern over President-elect Trump’s plan to impose tariffs, and his thoughts on the Fed’s plan for rate cuts.

Segment 2: Bree Fowler, Senior Writer, CNET, joins John Williams to talk about Canada ordering the dissolution of TikTok’s Canadian business, Australia announcing legislation designed to keep kids off social media until they’re 16, and shares of Tesla continuing to rise as investors bet that the electric vehicle maker will benefit from Donald Trump’s return to the White House.

Segment 3: Paul Gadbut, CEO, Hydrosome Labs, chats with John about what their bubble technology company does, the way the technology works, how the bubbles improve a vast array of products, and the potential applications of the technology.

Segment 4: Jason Sfire, GLASA (Great Lakes Adaptive Sports Association) Board President and Coach, GLASA Chicago Bears Wheelchair football team, talks to John about the mission of GLASA, who competes on the football team, how the wheelchair game is played, where they draw their athletes from, and the USA Wheelchair Football League (USAWFL) season championship match on November 23rd against the Kansas City Chiefs Wheelchair Football Team.

Segment 1: WGN Business reporter Steve Alexander talks to John about what’s causing the big market rally today.

Segment 2: Tim Paradis, Future of Work correspondent, Business Insider, joins John Williams to talk about how AI is impacting the interview process.

Segment 3: Brad Stephens, Mayor, Rosemont, joins John Williams to talk about the annual Chicago Boat Show moving to Rosemont. Mayor Stephens, who also serves as an Illinois State Representative, also discusses the results of last night’s election and what the Trump victory means for Illinois.

Segment 1: Tom Gimbel, job expert and founder of LaSalle Network, joins John to talk about prevalence of AI in the workplace and how AI is being used in hiring.

Segment 2: Philippe Weiss, President, Seyfarth at Work, joins John to talk about how companies can best navigate the workplace away from choppy post-election waters.

Segment 3: Dennis Rodkin, residential real estate reporter for Crain’s, joins John Williams to talk about a number of his recent stories including the latest Chicago housing market data, and an Astor Street mansion becoming the new highest-priced home listing in Chicago. Also, when showing a house, please close the toilet lid!