All Rights Reserved. BNSF No. A co-founder of Madrona Investment Group, Jerry served on the board of portfolio company Expedia.com. The company contracted its airlines to fly in the aircraft livery of other airlines such as Delta Air Lines and United Airlines. 3Three-year total. OFFICER John N Rich According to author Harry Nolan, Harris led the latter three airlines "out of the turbulence of financial instability toward profitability." of 0 shares. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. [1] In this position he helped form the corporate entity that resulted in BN's merger which formed the BNSF Railway. Gerald ("Jerry") Grinstein (born 1932) is an American businessman, the former Chief Executive Officer (CEO) of Delta Air Lines. The bottom 50% own just 1% of the wealth in the U.S. and have a median net worth less than $122,000. When Western Airlines and Delta Air Lines, Inc. of Atlanta, Georgia merged in 1987, Grinstein, CEO of Western since 1985, was appointed to Delta's Board of Directors and has remained on the board since then. Northwest also performed worse than expected, losing $5.07 a . He sought to maintain communication with the Delta Board Council and with representatives of frontline employees. ". PACCAR Inc (PCAR) Delta Air Lines Inc (DAL)'s detailed insider trading history can be found in Insider Trading Tracker table. Compensation rank is based on total compensation for latest fiscal year. Sanjay Gupta's net worth is $12 million. Hmmm. 1. Delta Air Lines Inc is airlines, with a network of over 300 destinations in more than 50 countries. In the meantime, the Grinsteins are renting a home nearby. Sources: Latest available company proxy statements; FT Interactive Data via FactSet Research Systems; Hemscott, Inc.(www.hemscottdata.com). Gurus may be added or dropped from the GuruFocus site at any time. His mother, Rosalie Alhadeff, is part of the family that created the Longacres horse-racing track in Renton. Gerald Grinstein is the director of The Brink's Co. Most recently Gerald bought 1,000 units of DAL stock worth $21,750 on 3 May 2007. "We aren't sure what we will do with it," she said. Grinstein negotiated a second concessionary agreement from ALPA, imposed a second round of paycuts on nonunion employees, and froze the nonunion employee pension plan. ", "Delta Air Lines needs to cut costs, says CEO. [6], Grinstein retired in the summer of 2007, [7] allocating his bankruptcy emergence stock grants to establish a scholarship fund for Delta employees and their children and a hardship fund for Delta families. He was just everywhere.. and Gerald Grinstein was American air transportation executive. Delta Air Service was incorporated on December 3, 1928, and named after the Mississippi Delta region. The Brink's Co is a Global provider of secure logistics and security solutions for cash and other valuables. Mr. Grinstein grew up in a prominent Seattle family. BNSF 1 Gerald Grinstein - (SLIDER JAKE) BNSF 1 Gerald Grinstein - (THE RAILFAN.NET USERNET ABPR PHOTO ARCHIVES) BNSF 1 Gerald Grinstein - (THE RAILFAN.NET USERNET ABPR PHOTO ARCHIVES) BNSF 1 Gerald Grinstein - (J. 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Gerald Grinstein owns over 1,000 units of Delta Air Lines stock worth over $32,120 and over the last 19 years Gerald sold DAL stock worth over $0. We rely on donations from readers like you to sustain Crosscut's in-depth reporting on issues critical to the PNW. Paccar Financial Services provides retail and wholesale financing for customers and dealers, respectively. WOODS) BNSF 1 Gerald Grinstein - (E.C. Powered by its employees around the world, Delta has for a decade led the airline industry in operational excellence while maintaining its reputation for award-winning customer service. Delta Air Lines Inc (DAL) [4] Grinstein embarked on a number of cost-cutting measures, including a major out-of-court restructuring of the company's long term debt and outsourcing of some heavy aircraft maintenance and ramp handling operations. I would quietly write down what few nuggets I could comprehend, usually "Dow Jones" and "buy low." Gerald Grinstein Net Worth (2022) | wallmine 7Less than $100,000. You can see the complete history of Gerald Grinstein stock trades at the bottom of the page. A co-founder of Madrona Investment Group, Jerry served on the board of portfolio company Expedia.com. Jerry returned to Madrona as a strategic director in late 2007 after a leave of absence serving as CEO of Delta Air Lines for almost four years. and Gerald Grinstein is the director & Chief Executive Officer of Delta Air Lines Inc. a net Author: burlingtonjohn. Grinstein also oversaw a major restructuring of Delta's network footprint, closing the airline's DallasFort Worth hub and cutting domestic flight schedules across the remaining hubs in an effort to redeploy aircraft and personnel to more profitable international markets. Along the way, he seemed to breathe life into a line from Theodore Roethke's The Waking: "I learn by going where I have to go." He is the former non-executive chairman of Agilent Technologies, and former chairman and CEO of Burlington Northern (BNI), where he oversaw. Most recently Gerald bought 1,000 units of DAL stock worth $21,750 on 3 May 2007. The company emerged from bankruptcy on December 9, 2013, and at the same time announced that it would merge with US Airways Group to form a new company, American Airlines Group. "The timing seemed right," Lyn Grinstein said. Donations may be made in Mr. Grinsteins memory to the Humane Society of Seattle-King County, 16495 N.E. . In summary, during the past 3 months, insiders sold 153,713 shares of PACCAR Inc (PCAR) in total and bought 0 shares, with a net of 8,500 shares made by Simon Davis "I don't think we'll be as interesting.". of 22,000 shares made by David S Taylor LEATHERBERRY) BNSF 1 Gerald Grinstein - (E.C . 2023 Cascade Public Media. Mr. Grinstein died unexpectedly Sunday (Sept. 28) of an undisclosed cause. This website uses cookies to improve your experience while you navigate through the website. a net of 111,326 shares. Its trucks are sold through over 2,300 independent dealers globally. Grinstein successfully guided Delta through a period of belt-tightening and restructuring, including filing for Chapter 11 bankruptcy protection. A co-founder of Madrona Investment Group, Jerry served on the board of portfolio company Expedia.com. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The company's only surviving airline, Pinnacle, became Endeavor Air. "The timing seemed right," Lyn Grinstein said. of 5,120 shares made by Rohan Pal Jerry is a founding partner of Harkness Capital and a Board Advisor to Kane is Able. Keith moved on to Georgetown Law School and an inspired career in telecommunications and venture capital, the kind of work where a 10 percent raise carries a bit more oomph. read more (market . Compensation rank is based on total compensation for latest fiscal year. ""Our rhetoric was terrific, but the performance wasn't there." Se convirti en director ejecutivo de Delta en 2004, una poca de crisis financiera para la aerolnea. Jerry is a founding partner of Harkness Capital and a Board Advisor to Kane is Able. Seattle Times researcher David Turim contributed to this story. . Allen, el hombre que, en la cumbre de su poder, haba detentado los ttulos de presidente, director ejecutivo y gerente general, fue despedido a la edad de 55 aos, sobre todo por haber matado el alma de la empresa. What should I do with my life? For example, if someone owes more than the total value of their assets, they have a negative net worth. . Relative to market is the ending value of $100 invested in the stock, divided by the ending value of $1 invested in the S&P 500 (a score of 100 = the S&P 500). We know that Gerald's political affiliation is . Musk Made a Mess at Twitter. Among his survivors are his wife, Claire, his parents and his brother, Charles. Gerald Grinstein Net Worth 2022 and insider trades. Delta's sale of frequent flier miles, particularly to American Express, is a keydriver of the firm's profits. . Por lo tanto, el directorio actu; lo encabezaba nada menos que Gerald Grinstein. ALPA was founded on 27 July 1931 and is a member of the AFL-CIO and the Canadian Labour Congress. Delta shed non-performing assets, slashed the mainline fleet from nine models to five, and shed thousands of jobs. Start a company in the Pacific Northwest. (Burlington Northern CEO Gerald Grinstein) (The Competitors) (Cover Story) (Interview). Footnotes: Re: BNSF "Gerald Grinstein" business car. The car was built in 1952 for then CB&Q President Harry Murphy. After Delta, Mullin has emerged as a leader in both the public and private sectors, serving other companies and continuing to be a philanthropic contributor. BOX 20574, ATLANTA, GA, 30320. He previously served as the Chief Executive Officer of Delta Air Lines from 2004 2007 and as Non-Executive Chairman of Delta Air Lines Inc.s Board of Directors from 1997 1999. The most recent stock trade was executed by Joanne D Smith on 28 February 2023, trading 4,846 units of DAL stock currently worth $186,232. We'll focus on the median and average net worth figures for different age groups: Age of head of family. Previous to Gerald's current city of Seattle, WA, Gerald Grinstein lived in Atlanta GA and Medina WA. It was Keith's public-service baptism, the ballast for later life. After overseeing the firm's survival through bankruptcy and implementing a . sale 4Less than 0.01%. He reduced his own pay by 25%, to approximately $325,000 per year. Over the past 18 months, It merged with America West Holdings Corporation, parent of America West Airlines, in 2005, and the combined company adopted the better-known US Airways name; the two airlines' operating certificates merged in 2007. Edward H. Bastian is an American business executive. He became CEO of Delta in 2004, a time of financial crisis for the airline. "I may put a sign on the waterfront saying `Bill has moved' with an arrow pointing up the shore," she joked. It was also, again, a $16,000 position. "Of course, it has taken a little longer than anticipated (for them to move out), but they're trying their best.". Some of our most successful entrepreneurs are really inventors at heart. Grinstein received the Railroader of the Year award in 1996. of 24,590 shares made by William C Carroll And he thrives.". All content in this area was uploaded by Mark Tatge on Feb 28, 2015 He was a Board Member of the Seattle Symphony and The Seattle Foundation. ", William Ruckelshaus, Gerald Grinstein celebrate 80th birthdays with salmon-fishing trip | The Seattle Times, https://en.wikipedia.org/w/index.php?title=Gerald_Grinstein&oldid=1078844912, This page was last edited on 23 March 2022, at 16:58. Gerald Ronson is from British. He became CEO of Delta in 2004, a time of financial crisis for the airline. ", "Congress Looks at Possible Delta-US Air Merger. It was meaningful do-gooderism as an end in itself. Fue director ejecutivo de Burlington Northern Railroad de 1985 a 1995 y se uni a la junta directiva de Delta en 1987. Grinstein was the CEO of Delta Air Lines from 2004 to 2007. It was humbling. He was CEO of Burlington Northern Railroad from 1985 to 1995, and joined Delta's board of directors in 1987. sale a net California Weighs $360,000 in Reparations to Eligible Black Residents. Hollis Loyd Harris served as President and COO of Delta Air Lines (1987-1990) and Chairman, President, and CEO of Continental Airlines (1990-1991), Air Canada (1992-1996), and World Airways (1999-2004). After overseeing the firm's survival through bankruptcy and implementing a restructuring program, he retired as CEO in 2007. In this episode, Bronson explains how the lessons he learned in the kitchen translated to the booth, the reason money can never be the motivation for creating art, and why he believes that imperfections are the best part of any masterpiece. John Scott Kirby is an American executive currently serving as CEO of United Airlines. [4] Grinstein embarked on a number of cost-cutting measures, including a major out-of-court restructuring of the company's long term debt and outsourcing of some heavy aircraft maintenance and ramp handling operations. (Gerald Grinstein says)(Brief Article). Gerald's mailing address filed with the SEC is DELTA AIR LINES, INC., P.O. of 153,713 shares. 1. Delta operates a hub-and-spoke system network, where it gathers and distributes passengers across the globe through key locations such as Atlanta, New York, Salt Lake City, Detroit, Seattle, and Minneapolis-St. Paul. 8Received options or restricted stock in lieu of portion of salary. The estimated Net Worth of Gerald Grinstein is at least Delta Air Lines stock worth over $38,620 and over the last 18 years Gerald sold DAL stock worth over $0 Hurricane Katrina resulted in a dramatic spike in jet fuel prices in Atlanta, which houses Delta's largest hub operation. At the time of the bankruptcy filing, Delta's total debt was approximately $23.8 billion. It may be a sin to use the subjunctive tense, especially about a life interrupted, but Keith's biography would have tracked with the Northwest's Jim Ellis and Eddie Carlson, innovators who knit together business savvy, public vision, and community values. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. of 32,650 shares made by R Preston Feight Though environmentalists would like to cite him as an example of big business concern for the environment, he says . Delta entered more than 50 new international markets between 2005 and 2007 and since its merger with Northwest Airlines in 2008 has become the world's largest carrier. "What can you say that you did with your life? Grinstein negotiated a second concessionary agreement from ALPA, imposed a second round of paycuts on nonunion employees, and froze the nonunion employee pension plan. a net Net worth totals vary by education, age, income and other factors. and Delta Air Lines executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. In November 2006, US Airways launched an unsolicited hostile takeover bid for Delta, which Grinstein and his executive team led by Jim Whitehurst and Edward Bastian defeated by supporting the employee-led "Keep Delta My Delta" campaign. On October 1, 2010, UCH, formerly UAL Corporation, announced completion of the merger. HOME PAGE FOR THE WORLD'S BUSINESS LEADERS. Mr. Grinstein is a co-founder of Madrona Venture Group. The estimated Net Worth of Edward H Bastian is at least $56.8 Million dollars as of 31 August 2022. Jerry Grinstein is Founding Partner at Harkness Capital Partners LLC. , Grinstein appointed new executives to Delta who assisted in the company's survival despite the airline's precarious financial position. ATLANTA Gerald Grinstein took the helm of Delta Air Lines at an age when many chief executives have given up the corner office for leisurely days of fly fishing or . purchase Paccar is a leading manufacturer of medium- and heavy-duty trucks under the premium brands Kenworth and Peterbilt, which are primarily sold in the NAFTA region and Australia, and DAF trucks, which are sold in Europe and South America. Prior to joining BNI, he held positions including chairman and CEO of Western Airlines, partner in the law firm Preston, Torgrimson, Ellis & Hollman, chief counsel to the United States Senate Commerce Committee, counsel to the Merchant Marine & Transportation Subcommittee, and administrative assistant to U.S. . "Come on," Denny reminded him. a net ACE Aviation Holdings, the Canadian parent of Air Canada retained a roughly 6.1% investment stake in US Airways Group. Compensation percent change is based on combined salary and bonus. Mr. Grinstein has been with the company for 2 years.The 73 year old executive ranks 15 within Transportation Education College: Yale BA '54 AMR filed for Chapter11 bankruptcy protection in November 2011. He previously served as the Chief Executive Officer of Delta Air Lines from 2004 - 2007 and as Non-Executive Chairman of Delta Air Lines Inc.'s Board of Directors from 1997 - 1999. Will His AI Plans Be Any Different? [8]. In October 1979, after the passage of the Airline Deregulation Act, Allegheny Airlines changed its name to USAir. Keith Grinstein, who died unexpectedly on Sunday, Sept. 28, at age 48, was a kinetic entrepreneur and altruist, as hilarious as he was intense. The analogy sounded a little too simple. of 17,976 shares. When he is not at work, you may find him sneaking off to fly fish or trying a new restaurant. He was CEO of Burlington Northern Railroad from 1985 to 1995, and joined Delta's board of directors in 1987. Efficiency rank is based on our chief executive's performance/pay score. Annualized total return during tenure covers the tenure of the executive or from the time of the IPO or available stock history. NM: Not meaningful. There isnt anyone in business in Seattle who doesnt know Keith. . The Air Line Pilots Association, International (ALPA) is the largest pilot union in the world, representing more than 59,000 pilots from 35 U.S. and Canadian airlines. It was the brainchild of William Boeing and emerged from his consolidation of numerous carriers and equipment manufacturers from 1928 to 1930. When Western Airlines and Delta Air Lines, Inc. of Atlanta, Georgia merged in 1987, Grinstein, CEO of Western since 1985, was appointed to Delta's Board of Directors and has remained on the board since then. Bill Gates bought the place from Sikma in 1993 for $8 million. Browse 63 gerald grinstein stock photos and images available or start a new search to explore more stock photos and images. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". sale Previously, he served as the Chairman and Chief Executive Officer at Western Air Lines Inc. and as the Chairman and CEO of Burlington Northern Inc. trader joe's chocolate ganache cake LIVE; madison 56ers apparel; gerald grinstein net worth. It's a "what if" that only magnifies the grief, the break of a generational thread that can't be mended. Refer a Friend and Earn One Month of Free Membership. Gerald Grinstein Total Compensation $0.45 mil (#490) 5-Year Compensation Total NA Gerald Grinstein has been CEO of Delta Air Lines for 2 years. (Rob Krebs, president and CEO of Burlington Northern Santa Fe Corp., and former head of Santa Fe prior to the merger; Jerry Grinstein, retired chairman of Burlington Northern Santa Fe Corp.)(Cover Story).