Wintrust Business Minute: Rivian sees production and delivery drop in first quarter

05/08/23 • -1 min

Steve Grzanich has the business news of the day with the Wintrust Business Minute.

Electric vehicle maker Rivian, with a plant in downstate Normal, saw production and delivery drop in the first quarter. The company delivered 7,946 vehicles compared to 8,054 in fourth-quarter 2022. Rivian reports quarterly earnings Tuesday and is expected to show a net loss. The company’s expected to ramp up production moving forward while cutting costs. The net loss is blamed on factory downtime while upgrading its commercial van assembly line.

Also, Deerfield-based Baxter International is selling its biopharma solutions business to two private equity firms.

https://serve.castfire.com/audio/4118580/4118580_2023-05-08-183920.64kmono.mp3

Steve Grzanich has the business news of the day with the Wintrust Business Minute.

Also, Deerfield-based Baxter International is selling its biopharma solutions business to two private equity firms.

https://serve.castfire.com/audio/4118580/4118580_2023-05-08-183920.64kmono.mp3

Previous Episode

Wintrust Business Lunch 5/5/23: Hot jobs report, Sundays on State, yumwoof dog food

Segment 1: Mark Hamrick, Washington Bureau Chief and Senior Economic Analyst for Bankrate.com, joins John to break down today’s labor report. What do the numbers mean for the economy, markets and the likelihood we see a recession?

Segment 2: Kiana DiStasi, Chief Marketing & Communications Officer, Chicago Loop Alliance, tells John about their Sundays on State program and how they are currently seeking community involvement through a free application process that runs through May 19th.

Segment 3: Jaron Lukas, CEO, yumwoof, talks to John about their non-GMO dog food brand that helps dogs lead a healthier life and live longer. Jaron explains how their food stands out among the competition. Check out Jaron’s book, ‘The Canine Cocomega Effect’ here.

https://serve.castfire.com/audio/4117952/4117952_2023-05-05-204952.128.mp3

Next Episode

Wintrust Business Lunch 5/8/23: New car cost, Chicago tech workforce growth, and the impact of money on your mental health

Segment 1: Ilyce Glink, owner of Think Glink Media and Best Money Moves, joins John to talk about the affordability of new cars, the results of Fannie Mae’s Home Purchase Sentiment Index, how interest rates are impacting home sales, the great labor report released on Friday, and a recap of Warren Buffet’s meeting in Omaha last weekend.

Segment 2: Jim Dallke, National Editor, American Inno, talks to John about the state of tech jobs in Chicago, an app that lets city inspectors scan sidewalks for ADA compliance raising some funding after relocating its HQ from Champaign to Chicago, and the CEO of a Chicago software startup talking about the challenges of raising a $7M round in a difficult fundraising environment.

Segment 3: Segment 3: Ted Rossman, Bankrate.com Senior industry analyst, joins John to break down a new Bankrate survey that shows how money worries negatively impacts mental health.

https://serve.castfire.com/audio/4118607/4118607_2023-05-08-200407.128.mp3