Ji Suk Yi hosts today’s edition of the Wintrust Business Lunch for Monday, February 10th.
Segment 1: (At 00:00) Real estate and personal finance expert Ilyce Glink, CEO of Best Money Moves, advises you to think before you overspend this Valentine’s Day! The average consumer plans to spend $196.31 this year, up 21 percent from last year’s record of $161.96. Glink offers 10 tips on how to save money this holiday from handcrafting a gift or thinking about an estate jewelry purchase instead of something brand new. Valentine’s Day spending is expected to total $27.4 billion this year, up 32 percent from last year’s record of $20.7 billion, according to research by the National Retail Federation and Prosper Insights & Analytics. Glink says it’s important to communicate about money with your partner but it can be tricky to figure out when and how to discuss financial matters like debt.
Segment 2: (At 6:41) From Chicago Inno, Jim Dallke, Sr. Editor, and Katherine Davis, Associate Editor, discuss a range of start-up, tech and innovation stories transforming our city. Today’s conversation started with a Google Map feature that was touted in an ad during the Oscars broadcast– the ability to pinpoint where famous movie locations can be found in the real world. Locally, Silicon Valley tech company Affirm (CEO Max Levchin was a co-founder of Paypal alongside Elon Musk) is opening a Chicago office and will hire 100 employees by the end of the year; Foxtrot raises $17 million to reinvent the corner store, and digital health analytics startup HealthChampion opens a new Chicago headquarters.
Segment 3: (At 20:36) WGN Radio’s Amy Guth checks in with Ji to discuss trending local business stories. Midway Airport is feeling the repercussions of the grounding of Boeing 737 Max planes via Southwest Airlines (Southwest accounts for 96 percent of the passengers at Midway and only flies 737s). Tyson Foods, the world’s second-largest processor of poultry, pork and beef said they plan on eliminating about 500 jobs, mostly corporate roles in Chicago and Arkansas. The layoffs will be concentrated in Chicago.