Wintrust Business Lunch 2/24/20: U.S. Stocks Nosedive As Coronavirus Crisis Spreads, Chicago Fitness Startup MyStrongCircle Wants To Compete With New York-based ClassPass, America Saves Week, & More…

Wintrust Business Lunch

Ji Suk Yi for the Wintrust Business Lunch. (WGN Radio)

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Ji Suk Yi hosts today’s edition of the Wintrust Business Lunch for Monday, February 24th.

Segment 1: (At 0:00) Washington Bureau Chief and Senior Economic Analyst of Bankrate.com, Mark Hamrick, advocates keeping perspective in light of global markets tumbling and bond yields plunging. A surge in reports of new cases of coronavirus in South Korea, Italy and Iran renewed worries that the outbreak could derail global growth.

Segment 2: (At 5:31) Associate Editor Katherine Davis from Chicago Inno, covers all the up-and-coming start-ups, innovation and tech companies making news locally. Today’s stories include: A new report from well-known venture capital firm Andreessen Horowitz lists Chicago as home to some of the top marketplace startups in the world; Chicago fitness startup MyStrongCircle wants to compete with New York-based ClassPass by offering customers unlimited classes to three bundled local studios; Milwaukee based Dohmen, announced it has acquired Chicago based meal delivery startup Cooked; and Lincolnwood startup BigFish changed their name to Spirit Hub and hope to become the one-stop-shop for ordering craft spirits.

Segment 3: (At 15:47) Today launches America Saves Week—an annual celebration as well as a call to action for everyday Americans to commit to saving successfully with the help of over 1700 participating organizations. Real estate and personal finance expert Ilyce Glink, CEO of Best Money Moves, advises you to make saving automatic and offers tips on how to start an emergency or rainy day fund. Glink also continues her Credit 101 series—this week’s article tackles how credit scores are calculated.

Segment 4: (At 23:20) WGN Radio’s Amy Guth checks in with Ji to discuss trending local and national business stories. Coronavirus is affecting the supply chain of some surprising industries like formal wear—imagine having to hear that your wedding dress or bridesmaids’ dresses won’t arrive in time for your wedding. Another surprising industry hit by China’s production—the natural hair extension and wig supply. Costco may soon require a membership in order to purchase food (like pizza and a hot dog) from their food court. Peapod’s clients are up for grabs—50,000 former customers of the grocery delivery service will look to either Jewel-Osco, Mariano’s (delivers through Instacart) and Amazon’s Whole Foods.

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