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

Northwestern Medicine is expanding in the northwest suburbs. The health system has announced plans to build a new outpatient center in Huntley. It’ll be located on Northwestern Medicine’s Huntley Hospital campus. The $96 million project will feature space for cancer and cardiac care. The Illinois Health Facilities board must approve the project before construction can begin. Northwestern hopes to begin building in October with opening set for 2027. A pedestrian walkway will connect the new outpatient center to the hospital. 

Also, Chicago-based Molson Coors is selling four of its craft beer breweries to Tilray Brands. Listen for more below:

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

Chicago has a new healthcare venture fund. It’s called Create Health Ventures and Crain’s reports it just closed its inaugural fund that’ll invest in early-stage business-to-business digital health companies developing tools for insurance companies and pharmaceutical firms. The fund has $21 million available to those startups and has already cut checks to five companies. Chicago startups Carallel and Advocatia Solutions are included in the first round of funding. One specializes in caregiver engagement and the other is a Medicaid enrollment tool. 

Also, Deerfield-based Baxter International is offloading its kidney-care unit. Listen for more below.

Segment 1: Tom Gimbel, job expert and founder of LaSalle Network, joins John to offer suggestions on how to best negotiate a job offer in today’s labor market.

Segment 2: Philippe Weiss, President, Seyfarth at Work, joins John to talk about how companies are offering commuting incentives in an effort to come back to the office.

Segment 3: Jared Dillian, Best selling financial author of the new book, “No Worries: How to Live a Stress-Free Financial Life,” tells John about volatility of the market over the last week, what it means long-term, why he believes the Fed may be a little more hawkish, if he believes more Fed rate cuts are warranted, and how we should be managing our portfolios if we are nearing retirement.

Segment 4: Sean Gillen, CFO, AAR, talks to John about what AAR does, who they service, the general safety of the airline industry, how often planes get a technical overhaul, the advancements in technology impacting the industry, the importance of bringing digital solutions to their work, and how business has been the last couple of years.

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

A new ranking puts Chicago in the top five best locations for startups. CoworkingMag determined its 2024 list by analyzing 108 U.S. cities across several metrics including support system, available funding, setup costs and availability of talent. The ranking says Chicago has the third biggest number of startup incubators and fourth highest number of accelerators. In 2023, Chicago had the 7th highest number of startups created with 34 launches. The city also has the sixth highest number of venture capital firms, with 11 actively raising and distributing funding between 2019 and 2024. San Francisco took the top spot followed by New York, Los Angles and Seattle. 

Also, naming rights have been awarded for the temporary football stadium at Northwestern University. Listen for more below

Segment 1: Ilyce Glink, owner of Think Glink Media and Best Money Moves, joins John to talk about a new survey that shows consumers expect inflation will be less of a problem in coming years, how we are absolutely not in a recession, home buyers frustrated with the housing market, and buyer’s agent commissions declining since the NAR settlement announcement.

Segment 2: Jim Dallke, Director of Communications, TechNexus Venture Collaborative, tells John about a robotic quarterback startup that launched out of Northwestern moving back to Chicago, a startup that helps recently laid off employees navigate “off boarding,” a new venture capital group that wants to better connect Midwest startup cities along the Great Lakes, and a new $50M fund led by a local tech leader looking to back more early state startups in Chicago.

Segment 3: Rodney Williams, Director of Entrepreneurship and Economic Development, By The Hand Club For Kids, tells John about the mission of By The Hand Club For Kids, and the ribbon cutting of a permanent home for their youth-led fresh produce market, Austin Harvest.

Segment 1: Faron Daugs, CFP, Founder and CEO, Harrison Wallace Financial Group, joins John to talk about what caused the big drop in the market on Monday, the market currently clawing back its losses, the difference between investors and traders, why he believes we will see two interest rate cuts this year, and the importance of keeping up to date on your portfolio.

Segment 2: Tom Appel, Publisher, Consumer Guide Automotive, and host of the Consumer Guide Car Stuff podcast, joins John to talk about the electric car market, what the consumer will make of the Dodge Daytona EV, Tesla not offering much new, what we should know about Chinese manufacturing, and why hybrid sales are still strong.

Segment 1: Steven Esposito, President of Yellowstone Wealth Management in Lake Forest, talks to John about the wild market week, what was spooking the market, the lack of confidence in the Fed in Washington, how much interest rates should be cut in September, and why he sees buying opportunities in the market.

Segment 2: Michael Jacobson, President and CEO, Illinois Hotel & Lodging Association, joins John to talk about the health of the hotel industry coming out of Lollapalooza and heading into the DNC. Why should regular Chicagoans care about the tourism industry?

Segment 3: Tom Webb, Chief Marketing Officer, Association of Pickleball Professionals, chat with John about National Pickleball Day and the APP coming to Chicago Labor Day weekend.

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

Chicago hotels are thriving. The latest data from the city’s marketing arm, Choose Chicago, shows hotel room demand during the first six months of this year up 4.2% over 2023 with 5.2 million room nights. Hotel revenue was nearly 4% higher than 2023 at nearly $1.2 billion dollars. Choose Chicago says there were 10 different conventions in the city during the first half of the year that set all-time attendance records. 

Also, there’s a report that Walgreens is considering selling its stake in VillageMD. Listen for more below:

Segment 1: Nationally syndicated financial columnist and author Terry Savage joins John Williams to talk about the market volatility this week, and why this is a great opportunity to look at your 401K.

Segment 2: Aki Ito, Chief Correspondent at Business Insider, joins John to talk about her recent piece showing that many college students are reneging on job offers.

Segment 3: Ted Rossman, Bankrate.com Senior industry analyst, joins John to break down the results of Bankrate’s latest credit card survey that shows half of American cardholders now carry credit card debt, many with no plan to pay it off.

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

The company that makes electric vehicles in Illinois is still losing money despite cost cutting and increased sales. Rivian Automotive had a net loss of nearly $1.5 billion in the second quarter, nearly 21% higher than the loss at this time last year. Second-quarter revenue rose by about 3% and sales rose 9%. Company execs say the company is on the path to profitability even though it’s currently burning through cash. According to it’s latest earnings report, Rivian is losing about $32,700 per vehicle it delivers. It’s R1 vehicle, manufactured in downstate Normal, sells for about $70,000. 

Also, the law firm Barnes & Thornburg is expanding its downtown Chicago footprint. Listen for more below: