Wintrust Business Lunch 3/16/20: The Fed’s response to coronavirus, how Chicago tech is taking on COVID-19, and Chef Jason Hammel weighs in on closing of IL bars & restaurants

Wintrust Business Lunch

Ji Suk Yi hosts today’s edition of the Wintrust Business Lunch for Monday, March 16th

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Segment 1: (At 0:00) With over 30 years of market experience in analyzing, underwriting and trading, recognized nationwide market expert Brian Battle is the director at the Performance Trust Companies. There was more coronavirus pandemic fall out as the markets plunged Monday and for a third time in a week, circuit breakers were set off briefly halting trading. Battle shared his valuable insight into the current status of the markets and why the Federal Reserve interest cut may not be the medicine the markets need. Battle explained how monetary policy is exhausted but a more comprehensive public policy and fiscal response with hard numbers attached to the relief package would be a short term remedy to calm the markets. 

Segment 2: (At 7:12) Associate Editor Katherine Davis from Chicago Inno, covers all the up-and-coming start-ups, innovation and tech companies making news locally. Davis fills us in on Grubhub dropping commission payments for independent restaurants (up to $100 million) and its Grubhub Community Relief Fund. Davis also gives us a round-up of Chicago tech offices that are closed and event cancellations due to the spread of coronavirus. For example, Salesforce made changes to its annual Connections event in Chicago changing it to a completely virtual experience. 

Segment 3: (At 15:48) Real estate and personal finance expert Ilyce Glink, CEO of Best Money Moves, will be offering free technology and resources for the next 3 months for businesses who need help grappling with coronavirus and financial stress in their employees. Glink offers advice on how to prepare for a recession and how to make the current almost zero interest rates work for you. 

Segment 4: (At 25:36) Starting Monday night at 9 p.m., Chicago’s restaurants and bars will have to close for a two-week period mandated by the state in an effort to limit the spread of coronavirus. Kitchens are allowed to stay open for to-go, delivery, and curbside pickup orders. Chef Jason Hammel (Lula & Marisol) was among several chefs to launch a social media campaign directed at politicians. Some of the financial relief they are seeking include emergency unemployment benefits, suspending state payroll tax, and loan and rent abatement for unemployed workers. 

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