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Crain's Chicago Business
Get a head start on your workday with the stories that matter most. Listen to our roundup of essential Chicago headlines and analysis from Crain’s reporters and host Amy Guth.
11/27/23: Chicago a weak spot in home-price growth
City home prices are flat, but Chicago-area price increases are outpacing the U.S. Crain’s residential real estate reporter Dennis Rodkin discusses the numbers with host Amy Guth, as well as other local housing market news.
Plus: Loop office landlord hit with $105 million foreclosure lawsuit, Deere stock falls as profit forecast disappoints, Northwest Community Healthcare opens new Schaumburg outpatient center and a look at how much X is losing from advertiser boycotts.
45:4922/11/2023
11/22/23: Northwestern wins its coveted new stadium
Evanston has approved a deal with Northwestern for rebuilding Ryan Field. Crain’s education reporter Brandon Dupré talks about the process and the road ahead with host Amy Guth.
Plus: Ford scales down Michigan EV battery plant plans, CNA Financial looks to shed part of Loop HQ, Motorola Solutions loads up for $2B more in stock buybacks and why O'Hare consistently gets mediocre ratings.
28:1921/11/2023
11/21/23: Craft breweries still being ravaged after COVID
Illinois’ once-thriving brewing scene now teeters on the edge of a steep cliff. Crain’s restaurants reporter Ally Marotti joins host Amy Guth to discuss how we got here — and what’s next.
Plus: Pritzker chases every federal dollar with new $1 billion EPA bid, McDonald's buys back Carlyle's minority stake in China unit, a new name tops the list of Chicago's largest hospitals, and Delta and United announce direct flights to Tulum.
16:5920/11/2023
11/20/23: Airlines, airports expect Thanksgiving travel surge
Crain's aviation reporter John Pletz talks with host Amy Guth about TSA and airlines' expectations around holiday travel and United and American's plans to boost their O’Hare schedules in the new year.
Plus: Asylum-seekers living in city shelters will begin to receive 60-day exit notices; after a false start, the trial of Ed Burke gets underway; Walgreens to close most stores on Thanksgiving; and a new survey indicates letting people work from home is good for revenue growth.
27:0717/11/2023
11/16/23: Homebuyers can expect a change in the process
If you're buying a home soon, look for a new document to sign — and another layer of stress. Crain's residential real estate reporter Dennis Rodkin discusses what's changing, plus more market news, with host Amy Guth.
Plus: Soldier Field and TIFs are helping to boost the Chicago Park District's budget; TransUnion will cut jobs in a cost-saving effort; the Chicago Symphony Orchestra nears ticket-sales record, but loses money; and downtown renters get a break as the apartment market cools off.
42:0215/11/2023
11/15/23: What to watch as safety tester UL Solutions seeks IPO
As UL Solutions lays out its long-awaited plans to go public, Crain's reporter John Pletz discusses the IPO with host Amy Guth.
Plus: The shopping mall at Block 37 is up for sale, developer Mike Reschke eyes a Wacker Drive landmark for a hotel conversion, Rivian will issue up to $15 billion of debt to help finance a Georgia factory and Evanston's City Council puts off a final decision on Northwestern's plans for a new Ryan Field.
21:5714/11/2023
11/14/23: Fallout from Walgreens' cost-cutting scramble
Crain's health care reporter Katherine Davis talks with host Amy Guth about Walgreens' second round of corporate staff reductions in recent months, as well as a new role at the CDC for former Chicago health chief Dr. Allison Arwady.
Plus: Mayor Johnson picks Arwady's replacement in the city's Public Health Department, Chicago's tallest apartment building goes up for sale, the clan that owns Napleton Automotive Group buys one of the most recognizable office properties in the suburbs and Chicago's top accounting firms see an average 7% uptick in headcount.
22:3813/11/2023
11/13/23: Greg Hinz on what's in store for Ed Burke in federal court
Political columnist Greg Hinz talks with host Amy Guth about the corruption trial getting underway for Chicago's longest-serving City Council member, former Ald. Ed Burke.
Plus: The council OKs a paid leave measure that requires employers to give full-time workers at least 10 days off; Tesla nears a deal to open a downtown service center; Walgreens replaces its chief medical officer in the latest shakeup; and lawmakers OK a plan to allow small-scale nuclear development in Illinois.
25:4810/11/2023
11/09/23: National Association of Realtors besieged within and without
Crain’s residential real estate reporter Dennis Rodkin talks with host Amy Guth about news from the local housing market, including lawsuits and a new CEO for the embattled NAR, and a look inside a few local time capsule homes.
Plus: Effort to raise tax on high-end property sales will go to Chicago voters, Rivian ends exclusive deal to supply Amazon vans while upping production forecast, United Airlines expects record Thanksgiving travel and Chicago has a new three-star Michelin restaurant.
35:5108/11/2023
11/08/23: Restaurants already tightening belts ahead of tipped wage bump
Crain's restaurants reporter Ally Marotti talks with host Amy Guth about how local restaurants are preparing for the tipped wage increase.
Plus: Motorola's stock tops $300 for the first time, Mondelez will raise prices next year on some products, gun rights groups to seek Supreme Court ruling on assault weapons ban, and WeWork goes bankrupt and signs pact with creditors to cut debt.
19:4207/11/2023
11/07/23: Migrants' shelter problems could soon worsen
Crain's health care reporter Katherine Davis talks with host Amy Guth about a potential public health crisis brewing as asylum seekers winter looms for asylum seekers.
Plus: Ald. Carlos Ramirez-Rosa resigns from City Council leadership roles, the city plans (again) to put O'Hare concession contracts out for bid, 1.2 million Cook County Health patients' data may be compromised and Chicago gets $336 million loan from EPA to replace lead pipes.
20:2606/11/2023
11/06/23: Chicago about to expand PTO requirements for employers
Crain's politics reporter Justin Laurence talks with host Amy Guth about a proposal requiring all employers in Chicago to provide 10 paid days off for employees starting next year that has been set up for a final City Council vote.
Plus: Howard Brown workers plan to strike for second time in less than a year, Walgreens slashing bonuses amid cost cuts, Baxter reveals outlook after dramatic restructure and Illinois Institute of Technology is opening a life-sciences lab in Fulton Market.
29:3003/11/2023
11/02/23: There's a catch behind Chicago's home-price hot streak
Crain’s residential real estate reporter Dennis Rodkin talks with host Amy Guth about news from the local housing market including how Chicago has hit its fourth month of having the fastest-growing home prices in the U.S.
Plus: 14-story Fulton Market hotel proposed; ADM, Deere and others push Yellen to act fast on green jet fuel tax policy; WeWork reportedly plans to file for bankruptcy; and a jury finds realtors and big brokerages colluded on commissions.
35:0801/11/2023
11/01/23: A suburban property-tax jolt
Crain’s politics reporter Leigh Giangreco talks with host Amy Guth about Cook County residential property taxes in the northern suburbs, which are going up by 15.7%.
Plus: Northwestern's stadium proposal narrowly survives first Evanston City Council vote, GE HealthCare stock up after beating investor estimates, McDonald's tops estimates on higher prices as U.S. visits dip and Field Museum receives $20 million gift for education initiatives.
17:3631/10/2023
10/31/23: What's in store for Chicago's biggest health provider
Crain’s health care reporter Katherine Davis talks with host Amy Guth about industry news, including how Advocate’s new Illinois chief plans to navigate the company’s post-merger realities.
Plus: 'Mansion tax' proposal heads for a City Council vote, Illinois a big winner in tentative agreements between UAW and the Detroit Three, warehouse development keeps outpacing demand and Northwestern faculty question university over Ryan Field rebuild financing.
29:5730/10/2023
10/30/23: What separates Chicago's most innovative companies from the rest
Crain's reporter John Pletz talks with host Amy Guth about Crain’s 2023 list of Chicago’s Most Innovative Companies.
Plus: Ford deal a "stunning victory" for union, Chicago renews shelter contract with Favorite Healthcare Staffing, California firm buys shopping centers near Midway Airport and United and Delta CEOs warn proposed legislation would doom airline loyalty programs.
29:1127/10/2023
10/26/23: Home sale volume hasn't been this low in a decade
Crain’s residential real estate reporter Dennis Rodkin talks with host Amy Guth about news from the local housing market, including the number of home sales here reaching its lowest point since 2012.
Plus: Amazon injuries more widespread than thought, UIC study says; American Airlines will dial up at O'Hare; Morningstar reportedly settles SEC complaints over commercial loan data; and MacKenzie Scott breaks donation record at another Chicago nonprofit.
40:5525/10/2023
10/25/23: A public health crisis boils over
Crain’s contributor Jon Asplund talks with host Amy Guth about the youth mental health crisis in Chicago and beyond that has outgrown the abilities of psychiatrists and therapists to treat by themselves.
Plus: Illinois Tool Works says UAW strike could shrink profits this year, Gov. J.B. Pritzker and California Gov. Gavin Newsom juice President Joe Biden's campaign fundraising efforts, big Mag Mile hotel hits the market and why Ulta Beauty is testing in-store sampling machines
24:2124/10/2023
10/24/23: Johnson and CPD union make peace
Mayor Johnson and the city's largest police union reached a tentative contract deal. Crain’s politics reporter Justin Laurence and host Amy Guth discuss details of the deal and its potential impact on the city’s proposed $16.6 billion budget.
Plus: Ford, GM earnings will give an early look at UAW strike's toll; U of C and U of I in the running for millions from feds for advanced tech research; Gibsons in Fulton Market is finally a go; and developer set to begin 72-story apartment tower on Chicago Spire site.
22:3123/10/2023
10/23/23: CTA predicts a slow ridership comeback
Crain’s politics reporter Leigh Giangreco talks with host Amy Guth about the CTA's $2 billion budget for 2024 as it holds off on adding service.
Plus: United expands focus to economy class; Ferrara Candy is buying Jelly Belly; Chicago wins Fitch upgrade on better economy, moderating debt; and just a fraction of craft cannabis growers operational in Illinois, despite dedicated fund.
21:2220/10/2023
10/19/23: A possible seismic shift in how people buy homes
Crain's residential real estate reporter Dennis Rodkin talks with host Amy Guth about news around the market, including how inventory of homes for sale has dropped the most in Chicago among big cities and how big brokerages may upend the century-old way we buy homes.
Plus: United stock sinks as war and costs drive "bleak" profit outlook, former Deputy Mayor Samir Mayekar picked to lead Polsky Center at University of Chicago, judge tells prosecutors to give Outcome Health co-founder Rishi Shah $8.6 million back and Gov. Pritzker takes his abortion-right fight national.
44:1418/10/2023
10/18/23: Johnson's mental health care plan emerges
Crain’s health care reporter Katherine Davis talks with host Amy Guth about Mayor Johnson's plans for the “Treatment Not Trauma” program.
Plus: Johnson sending delegation to Texas border as city reups contract to scout sites for housing asylum seekers sent to Chicago, Walgreens pharmacy staff reportedly planning nationwide walkout, former mayor Lori Lightfoot joins board of national LGBTQ+ PAC and more than half of Water Tower Place mall could ditch retail.
22:4217/10/2023
10/17/23: Breaking down Johnson's proposed budget
Crain’s politics reporter Justin Laurence talks with host Amy Guth about Mayor Brandon Johnson’s newly released budget and the city’s plan to fill a $538 million budget gap.
Plus: Survey indicates health system exec pay outpaces other hospital leadership roles, Gov. Pritzker releases 2022 tax information, WeWork makes interim CEO permanent to lead turnaround effort and advocates push for guns to be taken from alleged domestic abusers when an order of protection is served.
21:2116/10/2023
10/16/23: Walgreens' plan to correct course
Crain’s health care reporter Katherine Davis talks with host Amy Guth about Walgreens' new CEO and $1 billion cost-cutting plan.
Plus: Illinois a centerpiece in $1 billion hydrogen hub project, California preparing lawsuit to block merger of Mariano's and Jewel parent companies, Johnson budget raises concern over fate of LaSalle Street plan and professional cricket has come to the U.S., and Chicago is primed to host a team.
23:3913/10/2023
10/12/23: Mortgage-rate angst hangs over housing market
Crain’s residential real estate reporter Dennis Rodkin talks with host Amy Guth about news from the local housing market, including an index that suggests mortgage rates are worrying homebuyers more than prices.
Plus: Mayor Johnson proposes $16.6 billion Chicago budget without major tax hikes; Walgreens names health care vet as next CEO; NASCAR, city still negotiating second street race deal; and newly open Guinness brewery in Fulton Market up for sale
38:0411/10/2023
10/11/23: A vital turnaround for O'Hare
Crain’s aviation reporter John Pletz talks with host Amy Guth about how international travel is leading O’Hare's pandemic recovery.
Plus: Walgreens pharmacy staff walk off the job at some stores, fertilizer stocks jump with Israel conflict stoking supply concerns, nurses unions push for mandatory staff-to-patient ratios and Northwestern's Kellogg gets $25 million in memory of Sam Zell.
25:1110/10/2023
10/10/23: Slow end for the sub-minimum wage
Crain’s politics reporter Justin Laurence talks with host Amy Guth about how tipped workers in Chicago will see their base wage increase over the next five years to match the city’s minimum wage.
Plus: Report shows first month's haul for Bally's temporary Chicago casino; United, American and Delta cancel Israeli flights after war breaks out; Amgen completes Horizon takeover; and office shedding pushes downtown vacancy rate to another record high.
23:5709/10/2023
10/09/23: Chicago theaters looking for a lifeline
Crain’s reporter Brandon Dupré talks with host Amy Guth about how struggling Chicago theaters have made an 'unprecedented' request for more city funding.
Plus: Ex-Northwestern coach Pat Fitzgerald files lawsuit against the university, denying hazing allegations; Cook County Health spending expected to rise next year; Rivian sinks after EV maker plans $1.5 billion in convertible debt; and new public-private partnership looks to spur Midwestern climate investment.
24:3906/10/2023
10/05/23: Effects of Ford strike will reach far
Crain’s manufacturing reporter John Pletz talks with host Amy Guth about the significance of the UAW strike hitting Ford’s plant on the South Side.
Plus: Kellogg's split is official, with snack business Kellanova now based in Chicago; United raises its own bet by ordering more planes from Boeing and Airbus; Invenergy inks massive HQ expansion on Wacker Drive; and video slot machines spur gambling revenue windfall for Illinois.
25:3004/10/2023
10/04/23: Origin of another Art Institute piece in question
Crain’s nonprofits reporter Brandon Dupré talks with host Amy Guth about how the Art Institute is once again under fire over the disputed ownership of an art piece.
Plus: Wells Fargo plans major retail push in Chicago, investors say severe crash is coming for U.S. office properties, Oakbrook Center owner gets big windfall from new mortgage and Ald. Ray Lopez launches a congressional campaign against Chuy Garcia.
25:0103/10/2023
10/03/23: Duly cuts staff amid heavy financial strain
Crain's health care reporter Katherine Davis talks with host Amy Guth about layoffs and other cutbacks that follow an executive shakeup at the debt-heavy physicians group Duly Health.
Plus: Discover reaches consent agreement with FDIC, United Airlines starts program to woo pilots leaving military, Chicago firm Cresa acquires Detroit brokerage and restaurant-industry vets raising $100 million venture fund.
22:5402/10/2023
10/02/23: Microdistillery digs in closer to Chicago
ourneyman Distillery is expanding beyond its home in Three Oaks, Mich., to open a $40 million facility in Valparaiso, Ind., Crain’s restaurants reporter Ally Marotti discusses with host Amy Guth.
Plus: SEC charges Exelon, former ComEd CEO Anne Pramaggiore with fraud; McDonald's resists EU push to mandate reusable packaging; Ford's Chicago assembly plant hit in next wave of UAW strike; and Signature Room in Hancock tower closes.
21:0329/09/2023
09/28/23: Chicago flexing some home-price muscle
Crain’s residential real estate reporter Dennis Rodkin talks with host Amy Guth about how Chicago’s home price growth is top among major U.S. cities for the third month in a row and prices here are growing at twice the speed of the nation's.
Plus: Landlord putting $50 million into Wacker Drive and Loop offices; Trump found liable for fraud in New York attorney general's case, and the former president’s Chicago skyscraper plays a role; Ryan family buys into European soccer venture; and why green air travel will be a lifeline for corn farmers.
47:3027/09/2023
09/27/23: Mary Dillon struggles at Foot Locker
Crain’s retail reporter Ally Marotti talks with host Amy Guth about CEO Mary Dillon’s leap from Ulta to Foot Locker.
Plus: Chicago Fed chair says U.S. economy can avoid a recession, but risks remain; Instant Pot and Pyrex maker draws interest from Citadel and Centre Lane; Coyote cuts jobs, names new CEO; and veteran tech entrepreneur Chris Gladwin succeeds Penny Pritzker as P33 chair.
17:3826/09/2023
09/26/23: Historic South Side church faces uncertain fate
Crain’s reporter Corli Jay talks with host Amy Guth about the questions surrounding a Bronzeville church that’s up for sale after neighbors and preservationists lobbied to landmark it.
Plus: Snelling sails to CPD chief confirmation hearing with committee approval, SEC says Citadel Securities broke short-sale labeling rules, Walgreens sued by ex-CEO for $200 million over "smart doors" contract and Old Town shopping center sold to Florida investor.
19:5625/09/2023
09/25/23: Why Illinois' insurance rate hikes are so odd
Longtime insurance industry reporter Steve Daniels talks with host Amy Guth about how some Illinois policyholders are seeing property insurance rate hikes that rival those in more disaster-prone states.
Plus: Hundreds of Chicago-area GM and Stellantis parts workers join UAW strike, McDonald's is raising fees for some franchisees for the first time in about 30 years, United is latest to discover dubious parts in plane engines and Portillo's expansion plans just got even more aggressive.
28:4822/09/2023
09/21/23: Staff revolt at realtors association
Crain’s residential real estate reporter Dennis Rodkin talks with host Amy Guth about news around the market, including the National Association of Realtors staff calling for an ouster of its CEO and other execs.
Plus: Lender seizing Palmer House retail space, Illinois police pension fund plans to start investing in loans and private credit, lab-grown meat plant coming to redeveloped former Allstate campus and Brookfield Zoo lands a record donation.
43:5720/09/2023
09/20/23: Walgreens health expansion sputtering
Crain’s health care reporter Katherine Davis talks with host Amy Guth about the future of Walgreens' health care push after the abrupt departure of Roz Brewer as CEO.
Plus: UAW to unveil next wave of striking plants Friday, CEO is out at Cboe Global Markets, Illinois ranks in the top 10 for clean-vehicle jobs and warrant issued to seize an allegedly stolen drawing at the Art Institute.
21:2119/09/2023
09/19/23: What's at stake for the auto industry in the UAW strike
Michael Martinez, who reports for Crain's sister publication Automotive News, talks with Gist host Amy Guth about how the UAW strike could impact dealerships and manufacturing plants.
Plus: An Evanston economic impact study touts the benefits of Northwestern University rebuilding Ryan Field; Lettuce Entertain You expands its consulting business; U.S. Soccer is moving its HQ out of Chicago; and a ranking of Illinois colleges shows which schools offer students the best bang for their buck.
23:2318/09/2023
09/18/23: The early impact as UAW workers hit the picket lines
After United Auto Workers walk off the job, Crain's Daily Gist host Amy Guth has a look at the historic strike against the Big 3 Detroit automakers.
Plus: Discover explores a sale of its student loan business; a City Hall veteran is picked to run the Planning Department, at least for now; a measure to eliminate Chicago's tipped wage takes a step forward; and Crain’s reporters Corli Jay and Ally Marotti discuss what dollar stores cost Chicago's South and West side communities.
28:3915/09/2023
09/14/23: A blockbuster sale in Chicago's getaway region
Crain’s residential real estate reporter Dennis Rodkin talks with host Amy Guth about local housing news, including yet another Lake Geneva mansion sold in the mega-millions.
Plus: Mayor Johnson's budget forecast estimates a $538 million shortfall in 2024, United CEO says higher compensation for delays would make flying less safe, investors punish Northern Trust for soaring deposit rates, White Sox attendance has been too low for the team to owe state fees and an unrelated lawsuit has been filed against the team over alleged discriminatory ticket-sales practices.
32:5213/09/2023
09/13/23: Johnson's migrant plan, and its hefty price tag
Crain’s politics reporter Leigh Giangreco talks with host Amy Guth about how the city plans to address the migrant crisis in Chicago.
Plus: Northwestern and U of C move up in rankings of startup founders, Sterling Bay plans 29-story Fulton Market apartment building, survey finds arts sector's equity efforts haven't been enough and federal funding kick-starts Red Line extension.
23:5712/09/2023
09/12/23: Chicago groups take part in ambitious bid to cure cancer
Crain’s health care reporter Katherine Davis talks with host Amy Guth about the Chicago biotech companies and health systems involved with President Joe Biden’s "cancer moonshot" project.
Plus: Bally's temporary casino in River North opens, UAW's Stellantis chief "optimistic" about rebooting Belvidere plant, Twinkies maker Hostess in deal to sell itself to Smucker and Bears revive Chicago stadium hopes as season kicks off.
17:5111/09/2023
09/11/23: A hallmark name in Chicago groceries changing hands
Crain’s retail reporter Ally Marotti talks with host Amy Guth about Kroger’s plan to sell the Mariano's name and some of its Illinois stores in a $1.9 billion deal.
Plus: Illinois finally lands a big EV battery plant, CTU chief confirms she has a kid in private school, marijuana industry could be one step closer to green light to use banks and Bally's reportedly to pay around $20 million to lease former Medinah Temple.
20:4508/09/2023
09/07/23: Cyberattack makes selling a home in northwest Indiana a struggle
Crain’s residential real estate reporter Dennis Rodkin talks with host Amy Guth about news from the local housing market, including an update on the cyberattack that scrambled northwest Indiana real estate listing sites, a look inside one of Chicago’s original penthouse condos and more.
Plus: Illinois delays copay requirement for noncitizens, Green Thumb Industries authorizes share buyback and Teamsters ratify contract at three of the company’s Illinois dispensaries, United Airlines says software update led to nationwide ground stop and Discover names former FDIC regulator to its board.
41:4106/09/2023
09/06/23: Fallout from writers and actors strikes in Illinois
Crain’s reporter Brandon Dupré talks with host Amy Guth about the local impact of the Hollywood strikes.
Plus: With 40% service cuts looming, a new plan would remake the CTA and Metra; MSU credit union buying a second Chicago-area bank; Riverfront REI store hits the market; and a lawsuit accuses State Farm of sharing claimants' personal health records with data firm.
24:2605/09/2023
09/05/23: Walgreens CEO out, AbbVie in feds' drug-price crosshairs
Walgreens CEO Roz Brewer departs, leaving two open executive positions at the Deerfield-based pharmacy giant. Crain’s health care reporter Katherine Davis talks with host Amy Guth about the company’s moment of transition, as well as an AbbVie's blockbuster drug finding itself on President Biden's drug price-negotiation list and Howard Brown Health reinstating laid off workers after a labor board investigation.
Plus: Ford says it's offering 15% pay boost as UAW files complaints against GM and Stellantis, Reinsdorf says he doesn't want to sell the White Sox, and Hollywood strikes could cost Illinois half a billion dollars.
23:3101/09/2023
08/31/23: The return of rent control?
Crain’s residential real estate reporter Dennis Rodkin talks with host Amy Guth about the local housing market, including how towns could opt out of Illinois' rent control ban under a proposed law.
Plus: Discover's a potential acquisition target for first time in many years, bill pushed by Carvana for home car delivery becomes law in Illinois, Schaumburg office complex owner hit with $83 million foreclosure lawsuit, and Walgreens and CVS to make $45 Narcan available nationwide.
50:2430/08/2023
08/30/23: Bears and White Sox share foggy outlooks
Crain's contributor Dan McGrath talks with host Amy Guth about the future of the Bears and White Sox.
Plus: Gov. Pritzker and Mayor Johnson ask feds to fast-track work authorizations for people seeking asylum, AbbVie drug among those Biden targets for Medicare price cuts, Zebra Technologies to slash 700 jobs, an investor sues Wirtz company over short-form merger and Danny Wirtz assumes his late father's co-chairmanship of Breakthru Beverage.
33:3929/08/2023
8/29/23: "Hamilton" is back for more
Crain’s contributor Graham Meyer, who writes the weekly Big Ticket column, talks with host Amy Guth about can’t-miss arts and culture events for the month ahead, including the return of "Hamilton," the Chicago Underground Film Festival and more.
Plus: Where Illinois' jobs engine is sputtering; Allstate cuts agent pay again, creatively; WeWork taps Kirkland & Ellis in effort to stave off bankruptcy; and Mayor Johnson's plan to tackle soaring car thefts? Sue the automakers.
24:4128/08/2023