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. 3 U.S. domestic carrier, on Monday emerged from Chapter 11 bankruptcy protection He'd rock in his armchair and rapid-fire acronyms, liquidity trends, and other arcana. He became CEO of Delta in 2004, a time of financial crisis for the airline. 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. Enjoy a 7-Day Free Trial Thru Mar 11, 2023! Mr. Grinstein has been with the company for one year . sale I continued pressing. Basketball. , This category only includes cookies that ensures basic functionalities and security features of the website. . sale "The timing seemed right," Lyn Grinstein said. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". ", William Ruckelshaus, Gerald Grinstein celebrate 80th birthdays with salmon-fishing trip | The Seattle Times. He was just everywhere.. Gerald has made over 1 trades of the Delta Air Lines stock since 2007, according to the Form 4 filled with the SEC. Son complemented father, both emblematic of service above self; each was shrewd at tackling complex problems while highlighting the absurdity of certain politicians and other inflated egos. NA: Not available or not applicable. Even today, this paint scheme is simply referred to as either "Grinstein" or "Executive" paint and many of the SD70MACs on the roster still sport this scheme. Rapper, chef and author Action Bronson takes us on a journey from his early days at culinary school, to releasing critically acclaimed albums, to writing books, starring in TV shows and building an iconic brand around his favorite interests. AMR Corporation was an airline holding company based in Fort Worth, Texas, which was the parent company of American Airlines, American Eagle Airlines, AmericanConnection and Executive Airlines. Gerald Grinstein owns over 1,000 units of Delta Air Lines stock worth over $39,030 and over the last 19 years Gerald sold DAL stock worth over $0. In summary, during the past 3 months, insiders sold 30,856 shares of Delta Air Lines Inc (DAL) in total and bought 12,880 shares, with a net Gerald Grinstein for Ed Bastian's 20 year pinning. Since 1987, he had been a director of Delta Air Lines and served as Delta's non-executive chairman from August 1997 until October 1999. He and his wife have lived there while overseeing work on their nearly finished $65 million estate a few blocks away. By. We rely on donations from readers like you to sustain Crosscut's in-depth reporting on issues critical to the PNW. [3]. GuruFocus.com is not operated by a broker or a dealer. There won't be a "For Sale" sign swinging in front of Bill and Melinda Gates' house when they move to their new high-tech estate. Bar: District of Columbia, Washington. His new salary was set at $17,600. [2] While at the helm of BN, Grinstein adopted a new paint scheme for the railroad's executive office car train. of 57,951 shares made by Harrie Schippers 10Includes shares indirectly held. Start a company in the Pacific Northwest. So when Gerald Grinstein retired last year and headed back to Seattle, he struck a deal with Gates. 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. Other recent insider transactions involving PACCAR Inc (PCAR) include 2023 Cascade Public Media. During Delta's bankruptcy, Grinstein and his management team accelerated the restructuring process that they had started in 2004. ", "Railroaders of the year: matchmakers Rob Krebs, Jerry Grinstein. Keith Grinstein wheeled and dealt as a high-powered lawyer and executive who earned his spot at the top of Seattle's high-tech and . Hmmm. Previous to Gerald's current city of Seattle, WA, Gerald Grinstein lived in Atlanta GA and Medina WA. The bottom 50% includes 64.3 million families, with 13.4 million of these families having a negative net worth. 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. US Airways Group operated US Airways, along with its subsidiaries PSA Airlines, Inc. and Piedmont Airlines, Inc., which are wholly owned but marketed under the branding of US Airways Express. In 1997 Harris and Steve Wolf signed a strategic agreement between Air Canada and United Airlines, producing what is now the Star Alliance, which grew to become the world's largest global airline alliance. 1 carries the name "Gerald Grinstein." Grinstein was Chairman and CEO of the Railroad from 1985 to 1995, a period of extensive growth. Author: burlingtonjohn. Grinstein received the Railroader of the Year award in 1996.[3]. , Then you get to live here.. He became CEO of Delta in 2004, a time of financial crisis for the airline. When its one-time expenses were included, Delta lost $7.64 a share. Mr. Grinstein enjoyed traveling and flying several small airplanes that he owned. It was originally founded in Pittsburgh as a mail delivery airline called All American Aviation, which soon became a commercial passenger airline. How federal weed legalization would impact Washington state, ArtSEA: Bronze books in Bellevue and a rush of Seattle readings, The egg shortage won't end anytime soon. A co-founder of Madrona Investment Group, Jerry served on the board of portfolio company Expedia.com. Provides CEO, CFO, Director and Chief Executives trade reports, independent equity research, and stock screening. Edward H. Bastian is an American business executive. A decade later it had acquired Piedmont Airlines and Pacific Southwest Airlines (PSA), and was one of the U.S.'s seven transcontinental legacy carriers. Fue director ejecutivo de Burlington Northern Railroad de 1985 a 1995 y se uni a la junta directiva de Delta en 1987. [8]. Grinstein also set about regaining the trust and confidence of Delta's employees. (Gerald Grinstein says)(Brief Article). Grinstein negotiated a second concessionary agreement from ALPA, imposed a second round of paycuts on nonunion employees, and froze the nonunion employee pension plan. In the example, we've denoted them as current net worth (NWc) and past net worth (NWp). and Grinstein successfully guided Delta through a period of belt-tightening and restructuring, including filing for Chapter 11 bankruptcy protection. Some of our most successful entrepreneurs are really inventors at heart. He reduced his own pay by 25%, to approximately $325,000 per year. 30, 2006 stock price. Seattle Times researcher David Turim contributed to this story. In addition, he makes $615,987 as CEO & Director at Delta Air Lines. Prior to taking on the CEO role of Delta, Grinstein also served as non-executive chairman of Agilent Technologies from 1999 through November 2002 . Total compensation for each chief executive includes the following: salary and bonuses; other compensation, such as vested restricted stock grants, LTIP payouts and perks; and stock gains, the value realized by exercising stock options. Over the past 18 months, Mr. Grinstein died unexpectedly Sunday (Sept. 28) of an undisclosed cause. why was carrie's sister dropped from king of queens . The Brink's Co (BCO)'s detailed insider trading history can be found in Insider Trading Tracker table. When he is not at work, you may find him sneaking off to fly fish or trying a new restaurant. Im kind of in shock still, said Rick Yoder, owner of the Wild Ginger restaurant in downtown Seattle, where Mr. Grinstein was both an investor and regular patron. Sanjay Gupta's net worth is $12 million. Gerald Grinstein is a Co-Founder and serves as Strategic Director at Madrona Venture Group. 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. Wise counsel from a wise man: Do one thing well. V.P. They lived just across the street for years before moving to Fort Worth, Texas, home of Burlington Northern's headquarters. Bressler retired in 1990, and Grinstein assumed the additional post of chairman. To calculate your net worth, take inventory of what you own, as well as your outstanding debt. and Als Gerald Grinstein vor knapp zwei Jahren den Posten als Vorstandschef bei der amerikanischen Fluggesellschaft Delta Air Lines. AMR filed for Chapter11 bankruptcy protection in November 2011. Compensation rank is based on total compensation for latest fiscal year. He is the former non-executive chairman of Agilent Technologies and former chairman and CEO of Burlington Northern Inc. (BNI), where he oversaw the companys acquisition of Santa Fe Pacific Corporation, which created the nations largest railroad. Just another site gerald grinstein net worth Leo F. Mullin is an American executive and civic activist who served as CEO and Chairman of Delta Air Lines (1997-2004). Grinstein appointed new executives to Delta who assisted in the company's survival despite the airline's precarious financial position. He was 48. He had an incredible sense of humor. Click here to see the complete history of Gerald Grinsteins form 4 insider trades. [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 became CEO of Delta in 2004, a time of financial crisis for the airline. The car was built in 1952 for then CB&Q President Harry Murphy. California Weighs $360,000 in Reparations to Eligible Black Residents. Operating Investors and Operators. [8], ""Our rhetoric was terrific, but the performance wasn't there." To witness Keith together with his dad, Gerry, a former hand of Sen. Warren Magnuson and the recent former Delta Air Lines CEO, was to experience the science fiction of H.G. "We aren't sure what we will do with it," she said. The Burlington Northern Railroad was a United States-based railroad company formed from a merger of four major U.S. railroads. Woolman, general manager and later Delta's first CEO, led a group of investors to acquire the company's assets. Northwest also performed worse than expected, losing $5.07 a . Brink's customer base includes financial institutions, retails, government agencies, mints, and other commercial businesses. , Longtime friend Nick Hanauer, with whom he started the Seattle venture-capital fund Second Avenue Partners, called Mr. Grinstein a walking Rolodex., He loved to talk and tell jokes and he may have been the funniest guy in Seattle, Hanauer said. Delta Air Lines Inc (DAL)'s detailed insider trading history can be found in Insider Trading Tracker table. Methodology: UAL held a 100 percent controlling interest in United Airlines, Inc., one of the world's largest air carriers, and is a founding member of the Star Alliance. Delta expects to cut net debt by more than half to $7.6 billion at the end of 2007 from . Other key executives at The Brink's Co include 1Annualized. What is Gerald Grinstein's Net Worth? [5] In negotiations with ALPA, the Delta pilots' union, he secured deep concessions in order to help the company stave off bankruptcy. Sources: Latest available company proxy statements; FT Interactive Data via FactSet Research Systems; Hemscott, Inc.(www.hemscottdata.com). 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. In 2020, the company acquired the U.K.-based G4S that reorganized its operating segments to be North America, Latin America, Europe, and Rest of World. , "That was a 10 percent raise!". The gurus listed in this website are not affiliated with GuruFocus.com, LLC. It has three transcontinental routes that provide rail connections between the western and eastern United States. For Mr. Grinsteins 40th birthday, Second Avenue filmed a 10-minute video featuring short interviews with local business people. Peter Jackson is the former editorial-page editor of the Everett Herald. The estimated Net Worth of Gerald Grinstein is at least $38.1 Thousand dollars as of 3 May 2007. There was a dervish-style coherence to his method, but I was clueless. WOODS) BNSF 1 Gerald Grinstein - (J. Other key executives at Delta Air Lines Inc include The use of the net worth method is demonstrated in the figure below. Gerald Grinstein was born on 06/26/1932 and is 90 years old. He is the former non-executive chairman of Agilent Technologies, and former chairman and CEO of Burlington Northern (BNI), where he oversaw. After overseeing the firm's survival through bankruptcy and implementing a . of 32,650 shares made by R Preston Feight The first step is to calculate the net worth of the individual at the start and end of the period. Jerry Grinstein is Founding Partner at Harkness Capital Partners LLC. You might contact Gerald Grinstein via mailing address: 395 Page Mill Rd, Palo Alto Ca 94306. EVP Daniel J Castillo Most recently Gerald bought 1,000 units of DAL stock worth $21,750 on 3 May 2007. We use cookies to provide you with a great experience and to help our website run effectively. Most recently Gerald bought 1,000 units of DAL stock worth $21,750 on 3 May 2007. Net worth is the total of one's assets minus total liabilities. Delta Air Lines is a major American airline. But will the Seattle Landmarks Board sign off? He became CEO of Delta in 2004, a time of financial crisis for the airline. 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. Keith Grinstein, 1960-2008: Exec had heart for community. 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. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. But opting out of some of these cookies may affect your browsing experience. The company's history began with the world's first aerial crop dusting operation called Huff Daland Dusters Inc., founded in 1925 in Macon, Georgia to combat the boll weevil infestation of cotton crops. Gupta has several connections to Atlanta, where he is the Chief Medical Correspondent for CNN, associate chief of neurosurgery at Grady Memorial Hospital, and assistant professor of neurosurgery at Emory University School of Medicine. a net You have to seize something now, something you love, and run with it.". EVP & Chief Financial Officer Kurt B Mcmaken Stock quotes provided by InterActive Data. a net , Grinstein was the CEO of Delta Air Lines from 2004 to 2007. OFFICER John N Rich US Airways was a major U.S. airline that operated from 1937 until its merger with American Airlines in 2015. After overseeing the firm's survival through bankruptcy and implementing a restructuring program, he retired as CEO in 2007. From 1985 to 1995 Grinstein was CEO of Burlington Northern Railroad (BN). Del Quentin Wilber. 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. Primary Income source Philanthropist (profession). 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. In 2003, much to his surprise, the state's revenue agency presented him with a bill for $25 million, including penalties and interest, for the previous four years' worth of art purchases. On October 1, 2010, UCH, formerly UAL Corporation, announced completion of the merger. of 17,976 shares. During the past 18 months, 350,919 shares of PACCAR Inc (PCAR) were sold and 0 shares were bought by its insiders, resulting in a net We'll focus on the median and average net worth figures for different age groups: Age of head of family. sale Vice President Paulo Henrique Bolgar a net no insider transaction in Delta Air Lines Inc (DAL). Mr. Grinstein grew up in a prominent Seattle family. Mr. Grinstein serves as a Member of the Board at Regents of the University of Washington, Trustee of the Henry M. Jackson Foundation, and Board member of Long Live the Kings, University of Washington Foundation, University of Washington Medical Center, Foster School of Business, and the William D. Ruckelshuas Center. Delta Air Lines is the U.S. global airline leader in safety, innovation, reliability and customer experience. One proposal involves replacing the waterscape dinosaur sculptures and all with a meadow of native plants. Gerald Grinstein Strategic Director. Bressler continued as chairman of Burlington Northern and Burlington Resources, while Gerald Grinstein, who had been vice-chairman of both companies, became Burlington Northern ' s president and chief executive officer in 1989. He granted himself an annual salary of $450,000 with no bonuses or stock options, well below the multimillion-dollar compensation packages accepted by Mullin and his top executives at a time when Delta was losing billions of dollars. On the first anniversary of Russia's invasion, dozens gathered at St. Johns Episcopal Church to honor the lives lost. 7Less than $100,000. 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 latest Delta Air Lines news covering business, health and safety, leadership, routes and waivers, Delta people, our values and more. Daniel Allen 'Dan' Carp is the former chairman and chief executive officer of the Eastman Kodak Company. EVP-Chief Cust Experience Offr Allison C Ausband . Keith Grinstein was such a ubiquitous Seattle business figure that it often seemed as if he knew everyone. Mr. Grinstein is a graduate of Yale College and Harvard Law School. Mr. Grinstein has been with the company for 2 years.The 73 year old executive ranks 15 within Transportation Education College: Yale BA '54 Life is short. Carp served as the chairman of the board of Delta Air Lines, replacing former chairman Gerald Grinstein. purchase Picture a young-end Baby Boomer as a throwback to Seattle's civic lions, circa 1962. ,
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