In this episode, Fran Spielman interviews Jordan Abudayyeh, the outgoing Deputy Chief of Staff for Communications and Strategic Media for Illinois Governor J.B. Pritzker. They discuss Abadaya's experiences over seven years working with the governor, the challenges and stress of high-pressure political roles, and her future plans. They also delve in…

Where does private equity invest the money, you give them? Private equity invests money in many different areas, but the problem that they are having is that both them and venture-capital are sitting on $2.6 trillion, which is a record high. Ultimately, they are having a hard time finding where to invest. A private equity firm generally has to earn…

In this episode, Fran Spielman interviews Alderman Marty Quinn from Chicago's 13th Ward. They delve into the strained relationships within the city council, challenges posed by Mayor Brandon Johnson's budget plans, and the need for a new police district. Additionally, they examine the legacy and trial of political figure Mike Madigan, the impact of…

Inflation comes in hotter than expected, is that a problem? The Consumer Price Index (CPI) showed September headline inflation was up 2.4% compared to last year, which was a little higher than the estimate of 2.3%. Core CPI, which excludes food and energy was up 3.3% compared to last year and it also came in a little higher than the expectation of …

Sun-Times City Hall reporter Fran Spielman is joined by WBEZ education reporter Sarah Karp and Sun-Times education reporter Nader Issa to discuss the recent mass resignation of the Chicago school board amidst a budget crisis and ongoing negotiations with the Chicago Teachers Union (CTU). See Privacy Policy at https://art19.com/privacy and Californi…

More jobs data points to a healthy economy The Job Openings and Labor Turnover Survey (JOLTs) showed a surprise increase in the month of August. Openings totaled 8.04 million, which topped the estimate of 7.64 million and July’s reading of 7.71 million. While this is still well off the highs from just a couple of years ago, there are still 1.1 avai…

We do have a housing problem in this country, but it may not be the one you’re thinking. The price of homes has continued to rise and it has left some people out of the housing market, but that may not be a bad thing. I say that because people are doing anything they can to buy a home at these high prices. This includes risky endeavors like cashing…

Portraying himself as a "peacemaker" between an embattled mayor and an emboldened City Council, newly-confirmed Zoning Committee Chair Walter Burnett (27th) said there is nothing to be gained by further "antagonizing and fighting" Johnson. Not after "every vote has been tight" during Johnson's first 17 months in office. See Privacy Policy at https:…

Retail sales shows the consumer is still spendingAugust retail sales were expected to decline 0.2% in the month, but the consumer was more resilient than anticipated as they actually grew 0.1% compared to the month of July. Compared to last August, retail sales were up 2.1%. Gas stations were the biggest negative in the report as lower prices for o…

Sun-Times City Hall reporter Fran Spielman speaks with Anthony Driver Jr., President of the Community Commission on Public Safety and Police Accountability (CCPSA) and Executive Director of SEIU State Council. He reflects on the challenges facing the Chicago Police Department under Superintendent Larry Snelling, emphasizing the need for improvement…

Another lesson on why investors should stay away from derivatives The well-known mutual fund company, Franklin Templeton, has a division known as Western Asset Management, WAM. Please do not confuse that with our investment firm, Wilsey Asset Management, also referred to as WAM. Western Asset Management received a Wells Notice from the Securities a…

Sun-Times City Hall reporter Fran Spielman is joined by Ald. Brendan Reilly of Chicago's 42nd Ward to discuss the city's critical financial issues and political landscape. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The labor market continues to soften The Job Openings and Labor Turnover Survey (JOLTs) showed job openings continued to fall across the country in the month of July. It was reported that available positions fell to 7.67 million in the month, which 237,000 lower than June’s downwardly revised number and well below the estimate of 8.1 million. While…

Sun-Times City Hall reporter Fran Spielman interviews Chicago's budget director, Annette Guzman, about the city's significant financial challenges. Guzman explains the factors contributing to these shortfalls, including lagging revenues, escalating costs, and pension obligations. See Privacy Policy at https://art19.com/privacy and California Privac…

Inflation report pretty much solidifies a rate cut in SeptemberPersonal consumption expenditures prices (PCE) were right in line with expectations as they increased just 2.5% in the month of July. Core PCE, which is the Fed’s preferred measure came in at 2.6% and was slightly below the estimate of 2.7%. While both readings matched the June inflatio…

In this episode, Fran Spielman interviews Stacy Davis Gates, the president of the Chicago Teachers Union, about the challenges facing Chicago Public Schools at the start of the new school year. Gates shares her views on the leadership of CEO Pedro Martinez, emphasizing the need for a strategic vision to address funding deficits and urging resources…

History shows robo-advisors failed to live up to the hype!When robo-advisors first came out years ago, people asked if I was worried about my career. I said no because I do believe that investing can be very complicated and a good advisor is worth it. I’m happy to report that has been the case. Robo advisors have only accumulated one trillion dolla…

Sun-Times City Hall reporter Fran Spielman discusses the aftermath of the Democratic National Convention with chief political reporter, Tina Sfondeles, and reporter Mitchell Armantrout. The conversation covers Vice President Kamala Harris's historic nomination, her impactful acceptance speech, and the overall energy and excitement surrounding the c…

Declining CPI opens door to lower interest rates Inflation concerns are falling as the July Consumer Price Index (CPI) showed an increase of 2.9% compared to last year, this would mark the lowest reading since March 2021. Core CPI, which excludes food and energy was also positive as it came in at 3.2% which would mark the lowest reading since April…

“Friendly fraud” is costing businesses $100 billion a year I was surprised to learn of a new term called friendly fraud. This is when a customer disputes a legitimate charge they made on their credit card, debit card, or another payment method. According to a recent survey,35% of Americans admit to committing this kind of fraud, and 40% know someon…

In this episode, Fran Spielman interviews Forrest Claypool, discussing his extensive career in various roles in Chicago's public sector. Claypool talks about his new book on Richard M. Daley. They delve into Daley's complex legacy, including episodes of corruption and his struggle with personal losses. Claypool emphasizes the significance of strong…

Did the markets overreact to employment numbers? Markets headed largely lower Friday morning after nonfarm payrolls grew by just 114,000 in the month of July. This was well below the estimate of 185,000 and the downwardly revised June number of 179,000. Total revisions for the previous two months led to numbers that were 29,000 lower than previousl…

In this episode, Fran Spielman interviews veteran congressman Mike Quigley. The discussion covers Quigley's continued passion for playing hockey, his candid views on urging President Biden to drop out of the race, and the political landscape affecting the Democratic party. Quigley shares insights on Vice President Kamala Harris's campaign, potentia…

Q2 GDP not as strong as the headline numbers show While Real Q2 GDP increased at a 2.8% annualized pace and easily topped the estimate of 2.1%, there were some likely one time impacts that lifted the numbers. The major outlier was the change in private inventories as it added 0.82% to the headline GDP number. As we discussed after Q1 GDP, private i…

Sun-Times City Hall reporter Fran Spielman is joined by former United States Senator Carol Moseley Braun to discuss Biden’s decision to drop out of the presidential race and the endorsement of Vice President Kamala Harris to be the democratic nominee. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com…

Retail sales beats expectations but shows consumer is still softening. June retail sales came in flat compared to the previous month, this topped the expectation for a 0.4% decline. Compared to last June, retail sales were up 2.3%. Areas of strength included non-store retailers (+8.9%), food services and drinking places (+4.4%), clothing and clothi…

Sun-Times City Hall reporter Fran Spielman is joined by Washington Bureau chief Lynn Sweet, chief political reporter Tina Sfondeles, and reporter Mitch Armentrout to discuss their coverage of the Republican National Convention in Milwaukee. The panel delves into the details of Donald Trump's lengthy and eventful acceptance speech, the audience's re…

Inflation continues to cool, creating more hope for rate cuts. The June Consumer Price index (CPI) rose 3.0% compared to last year, which was below last month’s reading of 3.3% and the expectation of 3.1%. Core CPI, which excludes food and energy rose 3.3% from a year ago. This was below last month’s reading and the expectation which were both 3.4%…

In this episode, Fran Spielman interviews seasoned political strategist Bill Daley, discussing the uncertainties and dynamics surrounding the Democratic National Convention, the potential of President Biden's re-election campaign, the role and challenges of the Democratic Party, and the impact of potential contenders. Daley also reflects on histori…

Largest US Banks I continue to remain optimistic about investing in the large financials, specifically the money center banks. For the most part they trade at good valuations and the recent stress test shows they remain healthy. All 31 of the largest US banks passed the Federal Reserve’s annual stress test, which provided a hypothetical scenario wh…

Sun-Times City Hall reporter Fran Spielman speaks with Julie Giese, president of the NASCAR Chicago Street Race. They discuss the race's economic impact, community engagement through various programs, and the potential challenges and benefits of hosting such a significant event in Chicago. See Privacy Policy at https://art19.com/privacy and Califor…

In this episode, Fran Spielman interviews Pat Cleary, President of Chicago Firefighters Union Local 2. Cleary discusses the challenges the union faces, including the lack of a contract for firefighters and paramedics, the fallout of the COVID-19 vaccine mandate, and the inadequate number of ambulances in Chicago. Cleary also outlines plans for upco…

May Retail Sales May retail sales showed the economy is continuing to decelerate, which is exactly what I think we need to see. The release showed retail sales were up 0.1% compared to last month, which missed the estimate of 0.2%. When looking at May 2023, retail sales were up 2.3%. While this doesn’t show a booming economy, I still believe it is …

In this episode, Fran Spielman interviews Mickey Bergman, a former Israeli paratrooper turned international hostage negotiator. They discuss his incredible career, emotional intelligence, specific hostage cases, and the intricate dynamics of international negotiations. Mickey shares fascinating stories from the field, the challenges he faces, and h…

May CPI I would say I was very optimistic after the May Consumer Price Index (CPI) was released. Headline CPI increased 3.3% compared to last year, which was below the estimate and last month’s reading which both stood at 3.4%. Core CPI which excludes food and energy was up 3.4%, which was below the estimate of 3.5% and last month’s reading of 3.6%…

As CEO of Gaming U.S.A. Corporation and editor of the Gaming Industry Daily Report, Alan Woinski has watched cities like Detroit and New Orleans struggle to complete their ambitious casino projects. He believes that the financial hurdles now confronting Bally’s—including an $800 million construction funding gap and a buyout offer from its largest s…

Jobs Report The Jobs Report showed the labor market continues to remain on good footing considering nonfarm payrolls rose by 272,000, which easily topped the estimate of 190,000. Strength occurred in health care and social assistance (+83.5K), leisure and hospitality (+42k), professional and business services (+33k), and construction (+21k). Govern…

PCE The core personal consumption expenditures index (PCE), which is the Fed’s preferred measure for inflation did not show much progress in the month of April. Year over year core PCE was up 2.8% which matched the previous month’s reading. If you want to get really mathy with the numbers and move over one more decimal place there was actual a posi…

It's been 28 years since the DNC was in Chicago, so this week, Sun-Times City Hall reporter Fran Spielman welcomes Leslie Fox, former Executive Director of 1996 Democratic National Convention in Chicago, to discuss what we can expect from a convention in the city and what's changed in the nearly three decades since. See Privacy Policy at https://ar…

AI Boom You may have missed the AI boom in NVIDIA, but for patient longer-term investors there could be a good investment opportunity in energy going forward. As more companies begin to use AI, the demand for energy will increase. Keep in mind that this is on top of expected growth in the electric vehicle market and if it continues on in future yea…

Sun-Times City Hall reporter Fran Spielman is joined by SoundThinking, Inc. CEO Ralph Clark to discuss ShotSpotter's future in Chicago. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

PPI Initially the Producer Price Index (PPI) looked problematic as it increased 0.5%, which easily topped the estimate of 0.3%. Looking further into the report though, the March reading was revised from an initially reported 0.2% gain to a decline of 0.1%, which more than accounted for this month’s beat. Looking on a year-over-year basis, PPI rose …

Sun-Times City Hall reporter Fran Spielman is joined by Civic Federation President Joe Ferguson to discuss Chicago's political culture, ethics reform, and the challenges facing the city from a fiscal and governance perspective. Ferguson shares insights from his transition from inspector general to overseeing city finances, underscores the importanc…

Cash & Money Markets are not Long-Term Investments With many companies in the stock market more expensive than we’d like to see, we have been sitting on more cash in a money market than we normally would. While the 5% or so in interest is nice for the time being, we are using this as a temporary parking place until we find a good long-term investme…

Sun-Times City Hall reporter Fran Spielman and WBEZ's city government reporters Mariah Woelfel and Tessa Weinberg, are joined by Chicago's Mayor Brandon Johnson to reflect on his first year in office. Mayor Johnson covers his progress, political struggles, and personal moments that have shaped his approach to governing Chicago. See Privacy Policy a…

Labor Market payrolls Nonfarm payrolls increased by 175,000 in the month of April. While this was well below the estimate of 240,000, this may actually be a big positive. Having that type of growth still shows the labor market is on good footing, but to combat the Fed’s inflation concerns it’s nice to see a labor market that is not too hot. Previou…

Fraternal Order of Police President John Catanzara is lifting the curtain on the backstage maneuvering that culminated in Mayor Brandon Johnson and Gov. J.B. Pritzker behind told to stay away from the funeral of slain Chicago Police Officer Luis Huesca's funeral. The back-and-forth that only intensified the grieving family's anguish did not start a…

GDP First quarter GDP was a large disappointment as it grew at an annualized pace of 1.6%, substantially below the estimate of 2.4%. I will say, considering there is a lot of data to collect the first reading can be subject to major revisions. As a recent example, in 2023 Q1 GDP had an initial reading which showed an increase of 1.1%, but it was la…

Marc Ganis, co-founder and CEO of Chicago-based Sportscorp Ltd., joins Sun-Times City Hall reporter Fran Spielman to discuss the Chicago Bears' ambitious plans to build a new dome stadium on Chicago's lakefront. They explore the potential economic and community impacts, the hurdles of financing a multi-billion-dollar project, and the political land…

Retail Sales People may be complaining about higher interest rates, but it does not appear to be slowing down the consumer. Retail sales climbed 0.7% in the month of March, which is easily topped the estimate of 0.3%. Compared to last year, sales were up an impressive 4.0%. Areas of strength continued to be nonstore retailers, which were up 11.3% c…