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

There’s a report that KKR & Co. is in talks to buy The Parking Spot, the Chicago-based owner and operator of parking facilities near airports. Bloomberg reports the talks are in an advanced stage. The proposed deal is valued at about $1.4 billion. It could be announced in the coming weeks but could still fall apart. The Parking Spot has locations near more than 45 airports, including John F. Kennedy International Airport in New York and San Francisco International Airport.

Also, car maker Stellantis has confirmed it’s delaying plans to reopen the assembly plant it operates in Belvidere. Listen for more below:

Nationally syndicated financial columnist and author Terry Savage joins John Williams to talk about the importance of long-term care insurance, the stock market being relatively flat after a week of gains, and why you need to know about short term ‘gap’ insurance policies. Terry also answers all of your financial questions.

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

UAW members around Belvidere, near Rockford, may file grievances against automaker Stellantis. The company committed to investing nearly $5 billion last year to retool the Belvidere plant for production of a new midsize truck.  It was part of the agreement to end last year’s strike by the UAW.  The plan was expected to bring thousands of jobs to Belivdere by 2028, but now it might not happen by then.  Stellantis has said it wouldn’t launch the truck production by 2027, as originally scheduled.

General Motors is cutting over a thousand jobs, saying they need to streamline operations.  

Segment 1: Tom Gimbel, job expert and founder of LaSalle Network, joins John to talk about how the definition of a bad manager varies, why some people don’t move jobs when they have a bad manager, and why he believes office friendships are extremely important.

Segment 2: Michael Edwards, President and CEO, Chicago Loop Alliance, joins John Williams to talk about a new study that reveals the Chicago Loop tops other U.S. downtowns by most value metrics.

Segment 3: Jack Ablin, Chief Investment Officer, Cresset Capital, talks to John about the economy expanding at a slower rate, consumers pushing back against higher prices, the unaffordability of housing, how the market has been rallying since the one-day sell off, and what the Fed will likely do with interest rates through the end of the year.

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

A new dining and entertainment concept is in the planning stages near Chicago’s Magnificent Mile with a magic theme. Crain’s reports an entity led by venture capitalist and former Allscripts CEO Glen Tullman has signed a lease at 100 E. Ontario. That’s the space where Lawry’s Prime Rib was located for nearly 40 years before closing in 2020. The lease runs for 10 years. The building is currently undergoing rehab work, so it’s unclear when work might start on the restaurant portion. In the 1990’s, Tullman tried to open restaurants in New York and Orlando centered around illusionist David Copperfield, but the project never came to fruition.

Also, an activist investor has taken a stake in Oak Brook-based Portillo’s. Listen for more below:

Segment 1: Ilyce Glink, owner of Think Glink Media and Best Money Moves, joins John to talk about Kamala Harris’ economic plan, how inflation is being felt in various cities, and the Federal Reserve Bank of Kansas City hosting dozens of central bankers, policymakers, academics and economists from around the world at its annual economic policy symposium in Jackson Hole, Wyoming.

Segment 2: Jim Dallke, Director of Communications, TechNexus Venture Collaborative, tells John about the Chicago tech and startup community at the DNC, TechNexus deploying dozens of sensors throughout the Hawaiian islands that use an artificial sense of smell to know when a fire is starting, and a ranking of the top startup cities in the Midwest has Chicago at number 1

Segment 3: Dr. Olivia Castellini, Senior Exhibit Developer, Griffin Museum of Science and Industry, tells John everything you need to know about the new Notes to Neurons exhibition.

Segment 1: Michael Miller, Economics Professor, Western Washington University and Professor Emeritus at DePaul University, chats with John about the Biden administration announcing that it had reached an agreement with drugmakers to lower prices on the 10 costliest prescription drugs under Medicare, Vice President Harris’ proposal to provide up to $25,000 in down payment support for first-time homebuyers, inflation finally being under control, what he expects the Fed to do about interest rates in September, and why he believes we aren’t falling into a recession.

Segment 2: Laura Ellis, chief strategy officer, executive vice president and president of residential sales, Baird & Warner, joins John Williams to tell us everything we need to know about the new way realtors will get paid starting tomorrow.

Segment 3: Allen Shulman, CEO, DwellSocial, talks to John about a new app that brings Chicago restaurants to the suburbs.

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

The CEO of Chicago-based Kellanova will get a big payout after a merger with the Mars candy company. Mars announced plans this week to buy Kellanova, the Kellogg spinoff, for $36 billion. Crain’s reports Kellanova’s CEO Steve Cahillane is in line for a nearly $81 million payout when he exits after the deal closes. He’s been CEO for just a short time — it’s only been a year since Kellanova split from Kellogg. During that period, the company’s net sales climbed 4% and the stock price increased 33%. Kellanova makes Cheez-It crackers, Rice Krispies Treats and Pop-Tarts. Mars makes Snickers and other candy bars. 

Also, Rivian Automotive has reportedly paused production of electric commercial vans for Amazon. Listen for more below:

Segment 1: Lisa Nucci, Chief Marketing Officer, Choose Chicago, joins John Williams to tell us everything we should know about how the city is prepping for the DNC in Chicago.

Segment 2: Bree Fowler, Senior Writer, CNET, joins John to talk about social media influencers visiting the White House on Wednesday, and a federal judge indicating he will order major changes in Google’s Android app store to punish the company for engineering a system that a jury declared an illegal monopoly that has hurt millions of consumers and app developers.

Segment 3: Phillip Shaw, CFP, Senior Advisor, Goldstone Financial Group, talks to John about the market settling down after a week of volatility, the Fed being successful in cooling off inflation, what he anticipated the Fed doing about rate cuts in September, credit card rates being at an all-time high, and what people should do when the market plummets like it did for a day last week.

Nationally syndicated financial columnist and author Terry Savage joins John Williams to talk about today’s inflation data, how inflation is moving in the right direction, what the new data means for interest rate cuts and Fed policy in September, why she hopes the market stays level, and what you should know about finding a trusted financial advisor. Terry also answers all of your financial questions.