CRAINALERTS: Fiscal reality hits City Hall

Fiscal reality hits City Hall

Having trouble viewing this email? See the online version Tuesday, September 03, 2024 A MESSAGE FROM WINTRUST The paper check is a hard habit to break, a remnant of an era before digital banking and

Fiscal reality hits City Hall

Having trouble viewing this email? See the online version

Tuesday, September 03, 2024

A MESSAGE FROM WINTRUST

The paper check is a hard habit to break, a remnant of an era before digital banking and rapid, easy online transfers.

In fact, 81% of businesses still use checks at least some of the time, allowing easy opportunities for fraud.

Register for our free webcast for tactics to keep your accounts safe.

1. Greg Hinz: After a heady summer, fiscal reality hits City Hall

If Mayor Brandon Johnson ever wants to revisit the sunny days when Chicago showed signs of life, he can’t patch a monster budget gap by taxing this city to death. It's time to bring out the ax.

2. Magnetar Capital to back AI startups via new $235M venture fund

The alternative asset manager is leveraging an investment in CoreWeave to launch one of the larger early-stage funds in Chicago.

3. Chicago has bet on quantum computing as a job generator. It's already happening.

Here are the local companies building hardware and software that will be needed for the new technology.

4. Rival buying Kroger-Albertsons stores got 'worst chains' like Mariano's

C&S, which is picking up 35 grocery stores around Chicago, coveted brands like Jewel-Osco. They weren't too happy with what they got.

5. Editorial: Will Brandon Johnson pass this budget test?

The mayor now encounters the challenge every elected official does at times like this, and the options usually boil down to two: Find new revenue — or cut costs. We all have a stake in the choice he makes next.

6. City of Chicago's LaSalle Street landlord surrenders building to lender

Chicago-based real estate investor Steve Hearn says he's hoping to recapitalize and take back the reins soon after giving up the distressed property at 2 N. LaSalle St.

7. Pitney Bowes to lay off 278 in Lockport

Layoffs at the shipping and logistics company's suburban facility appear to be part of a larger job-cutting effort after its e-commerce businesses filed for bankruptcy.

8. Dan McGrath: Bears' stadium dreams rest on Caleb Williams' shoulders

If the kid proves to be the team's first true superstar QB and it all clicks this season, it'll be the deified days of 1985 all over again. Any politician will more likely want to board that train than get in front of it.

9. DNC was feast or famine for restaurants: Crain's Daily Gist podcast

How did Chicago's dining scene fare during the Democratic National Convention? Depends who you ask. Crain's restaurants reporter Ally Marotti discusses with host Amy Guth.

10. He cooked for Rick Bayless in 1987. Now he has his own restaurant.

Chef Gino Bahena of Manchamanteles in Bucktown shares what it was like to cook under Rick Bayless at his first restaurant on this week's episode of The Dining Table.