Delta, which had previously sold its fuel hedges in a move to raise cash, was forced into an untenable cash position. Keith was, make no mistake, a frenetic presence. Woolman, general manager and later Delta's first CEO, led a group of investors to acquire the company's assets. . why is accuracy important in customer service. , Gerald Grinstein made Edward H. Bastian is an American business executive. George Washington's salary of $25,000 was . Stock quotes provided by InterActive Data. , Commitment to Global Development will be featured in a print ad this Thursday and you don't want to miss it. 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. Keith's first job after graduating from Yale was as a $16,000-a-year natural resources aide to my late father, Sen. Henry M. "Scoop" Jackson. He was CEO of Burlington Northern Railroad from 1985 to 1995, and joined Delta's board of directors in 1987. Other recent insider transactions involving PACCAR Inc (PCAR) include The route network covered destinations in 47 states, as well as international destinations. & CHIEF TECH. In the meantime, the Grinsteins are renting a home nearby. There was a dervish-style coherence to his method, but I was clueless. So when Gerald Grinstein retired last year and headed back to Seattle, he struck a deal with Gates. ", "Railroaders of the year: matchmakers Rob Krebs, Jerry Grinstein. (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). Gerald's mailing address filed with the SEC is DELTA AIR LINES, INC., P.O. purchase Other key executives at The Brink's Co include He worked as a lawyer in New York and Washington, D.C., before returning to Seattle in the late 1980s to join McCaw Cellular Communications (later AT&T Wireless Services). Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. By 2007, Delta's mainline operation employed approximately 47,000, down from a high of 78,000 in 2001. (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). When he is not at work, you may find him sneaking off to fly fish or trying a new restaurant. Over the last 20 years, insiders at Delta Air Lines have traded over $1,301,099,874 worth of Delta Air Lines stock and bought 6,749,673 units worth $322,412,006 The car was built by Budd in 1952 as a business car for the Chicago, Burlington & Quincy RR. 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. Fue director ejecutivo de Burlington Northern Railroad de 1985 a 1995 y se uni a la junta directiva de Delta en 1987. The current estimated net worth of Delta Air Lines Inc's Chief Executive Officer, Gerald Grinstein, is estimated to be about $883.35K .Gerald Grinstein owns . The Columbian black-tail deer has become a habitat threat, creating ideal conditions for invasive plants and forest fires. 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. Gerald Grinstein was born on 06/26/1932 and is 90 years old. In 1997, it rebranded as US Airways. Follow him on Twitter @phardinjackson. In Fort Worth, The Civilized West, . The Bottom Line. It was a dance of identical twins with one time-traveling sibling three decades younger than the other. Under Review. Exchange trademark and copyright notices. AMR filed for Chapter11 bankruptcy protection in November 2011. He and his wife have lived there while overseeing work on their nearly finished $65 million estate a few blocks away. , 1:06. 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. (Burlington Northern CEO Gerald Grinstein) (The Competitors) (Cover Story) (Interview). Mr. Grinstein has been with the company for one year . 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. "That was a 10 percent raise!". During Delta's bankruptcy, Grinstein and his management team accelerated the restructuring process that they had started in 2004. of 5,120 shares made by Rohan Pal Gerald Grinstein for Ed Bastian's 20 year pinning. a net 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. 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. Named for its creator, "Grinstein Green" was applied to the train's F-units along with a cream colored stripe down the middle. There isnt anyone in business in Seattle who doesnt know Keith. "Just imagine that you'll only live to be 40," Keith said. Gerald has made over 1 trades of the Delta Air Lines stock since 2007, according to the Form 4 filled with the SEC. ", William Ruckelshaus, Gerald Grinstein celebrate 80th birthdays with salmon-fishing trip | The Seattle Times. Although these initiatives were largely successful, upward pressure on fuel prices and fierce competition from low-cost carriers continued to keep Delta perilously close to bankruptcy. Primary Income source Philanthropist (profession). Mr. Grinstein is a graduate of Yale College and Harvard Law School. All content in this area was uploaded by Mark Tatge on Feb 28, 2015 a net Added: Jun 27, 2019. During the past 18 months, 5,120 shares of The Brink's Co (BCO) were sold and 10,000 shares were bought by its insiders, resulting in a net 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. Gerald Grinstein is the director & Chief Executive Officer of Delta Air Lines Inc. Over the past 18 months, We'll focus on the median and average net worth figures for different age groups: Age of head of family. He was the President at IBM and chair of the board at Red Hat, and previously Chief Executive Officer at Red Hat and Chief Operating Officer at Delta Air Lines. Previous to Gerald's current city of Seattle, WA, Gerald Grinstein lived in Atlanta GA and Medina WA. Pinnacle Airlines Corporation was an American holding company headquartered in Memphis, Tennessee, and was the parent company of Pinnacle Airlines and Colgan Air until Colgan was closed down in 2012. a net On September 14, 2005, Delta and its subsidiaries filed a petition for bankruptcy protection under Chapter 11 of the U.S. Bankruptcy Code. 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. The estimated Net Worth of Edward H Bastian is at least $56.8 Million dollars as of 31 August 2022. sale What should I do with my life? On the same date, Thomas H. O'Leary, 54, will become president and chief . The 72 year old executive ranks 12 within Transportation Chief executive . Grinstein negotiated a second concessionary agreement from ALPA, imposed a second round of paycuts on nonunion employees, and froze the nonunion employee pension plan. WOODS) BNSF 1 Gerald Grinstein - (J. Wallmine is a radically better financial terminal. a net He became CEO of Delta in 2004, a time of financial crisis for the airline. The latest Delta Air Lines news covering business, health and safety, leadership, routes and waivers, Delta people, our values and more. He reduced his own pay by 25%, to approximately $325,000 per year. "We aren't sure what we will do with it," she said. Other recent insider transactions involving Delta Air Lines Inc (DAL) include View Gerald Grinstein results including current phone number, address, relatives, background check report, and property record with Whitepages. [2] While at the helm of BN, Grinstein adopted a new paint scheme for the railroad's executive office car train. Delta, which had previously sold its fuel hedges in a move to raise cash, was forced into an untenable cash position. He was CEO of Nextel International from 1996 to 1999. Anderson inherited an angry board of directors and impatient . [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. Mr. Grinstein has been with the company for 2 years.The 73 year old executive ranks 15 within Transportation Education College: Yale BA '54 What is Gerald Grinstein's Net Worth? . Gerald Grinstein Strategic Director. and Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". Since 2001, the annual presidential salary has been set at $400,000. Mr. Grinstein is a co-founder of Madrona Venture Group. Grinstein received a BA from Yale University in 1954 and a JD from Harvard Law School in 1957. The company's only surviving airline, Pinnacle, became Endeavor Air. 5Prior-year data. He was beloved by many, many people.. Above is the net worth, insider trading, and ownership report for Gerald Grinstein. UAL Corporation would acquire Continental Airlines, Inc. and change its name to United Continental Holdings (UCH). a net [3]. Fundamental company data provided by Morningstar, updated daily. On Thursday June 27, 2019 United changed the name of its parent company from United Continental Holdings to United Airlines Holdings. of 153,713 shares. No matter what the situation was, he could always find the light side.. sale VICE PRESIDENT/GENERAL COUNSEL Michael K Walton You might contact Gerald Grinstein via mailing address: 395 Page Mill Rd, Palo Alto Ca 94306. 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. Prior to working at Delta in 2001, he served as Vice President and Director of the Boston Consulting Group and held various management roles at its Chicago, Hong Kong, Shanghai and Atlanta offices. 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. 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. Wells. Keith Grinstein, a 1978 graduate of Seattles Lakeside School, earned a bachelors degree from Yale University and a law degree from Georgetown. California Weighs $360,000 in Reparations to Eligible Black Residents. (Gerald Grinstein says)(Brief Article). 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. Gurus may be added or dropped from the GuruFocus site at any time. , Email. Grinstein negotiated a second concessionary agreement from ALPA, imposed a second round of paycuts on nonunion employees, and froze the nonunion employee pension plan. sale ", "Railroaders of the year: matchmakers Rob Krebs, Jerry Grinstein. In 1953, it was renamed Allegheny Airlines and operated under that name for a quarter-century. The company filed for bankruptcy protection under Chapter 11 in 2012 and emerged from Chapter 11 in 2013 as a wholly owned subsidiary of Delta Air Lines. Amy Martinez: 206-464-2923 or amartinez@seattletimes.com, Fire on Lake City Way in Seattle raises smoke, flooding concerns, WA to end masking requirement in health care, correctional facilities, Tacoma woman refusing tuberculosis treatment continues to face arrest, Be bolder to get light rail done, expert panel tells Sound Transit, Driver makes U-turn, hits pedestrian near Pioneer Square, police say. 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. Gerald (Jerry) Grinstein 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. Sanjay Gupta's net worth is $12 million. Hurricane Katrina resulted in a dramatic spike in jet fuel prices in Atlanta, which houses Delta's largest hub operation. James Moon Whitehurst is an American business executive. Jerry is a founding partner of Harkness Capital and a Board Advisor to Kane is Able. 2023 Harkness Capital Partners | Admin Login, CEO: Delta Air Lines; Burlington Northern Inc.; Western Airlines, Chairman: Delta Air Lines; Burlington Northern Inc.; Western Airlines, Board Member: Aligent Technologies; Light Sciences Corporation; Browning-Ferris Industries; VANS, Inc.; Imperial Sugar Co,; PACCAR Inc.; Sunstrand Corporation; Foundation Bank; ThinkFire Services USA; Portland General Electric Co.; The Brinks Company; Pittston Minerals Group; Vascular Reconditioning Inc; Bax Global; Expedia.com, Private Equity Boards: Kane is Able; Jacobson Companies; Co-Founder, Madrona Investment Group: Advisor, Oak Hill Capital Partners. But opting out of some of these cookies may affect your browsing experience. He was 48. Every Sunday morning, Crosscut's weekly email sums up the best stories of the week. 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. Oil Producers Hand $128 Billionto Investors as Doubts Grow About Future of Fossil Fuels, Your Saturday Briefing: Trumps Comeback Plan, Wall Street Whistles Away, British Parents Turn to Home Equity to Help Young Buy Property, Japanese Unions Seek Biggest Pay Rise in 25 Years for Workers, Sorry, Fed, Most US Mortgage Rates Were Locked In During Pandemic Lows. Compensation rank is based on total compensation for latest fiscal year. Delta Air Lines Inc is airlines, with a network of over 300 destinations in more than 50 countries. Although these initiatives were largely successful, upward pressure on fuel prices and fierce competition from low-cost carriers continued to keep Delta perilously close to bankruptcy. On October 1, 2010, UCH, formerly UAL Corporation, announced completion of the merger. And when we say own, we include assets that you may still be paying for, such as a car or a house . He was 48. In addition, he makes $615,987 as CEO & Director at Delta Air Lines. Past performance is a poor indicator of future performance. [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 may put a sign on the waterfront saying `Bill has moved' with an arrow pointing up the shore," she joked. 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. 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. The company contracted its airlines to fly in the aircraft livery of other airlines such as Delta Air Lines and United Airlines. Sources: Latest available company proxy statements; FT Interactive Data via FactSet Research Systems; Hemscott, Inc.(www.hemscottdata.com). Vice President Paulo Henrique Bolgar Enjoy a 7-Day Free Trial Thru Mar 11, 2023! and 9Received options or restricted stock in lieu of portion of bonus. They lived just across the street for years before moving to Fort Worth, Texas, home of Burlington Northern's headquarters. gerald grinstein net worth. Grinstein and his wife Carolyn live in Medina, Washington. 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. 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. Life is short. He took over as CEO in 2004, when Delta was in a deep financial crisis, after CEO Leo F. Mullin stepped down amid a controversy over executive retirement and cash bonus plans that were deemed excessive. Most recently Gerald bought 1,000 units of DAL stock worth $21,750 on 3 May 2007. Grinstein's wife, Lyn, says they're ready to move into the 14-room, waterfront house just as soon as the Gateses are ready to move out. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. The estimated Net Worth of Gerald Grinstein is at least $39 Tysic dollars as of 3 May 2007. 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). Most recently, Mr. Grinstein was chairman of Coinstar, a Bellevue-based operator of coin-counting machines, as well as a director of Seattle technology company F5 Networks and Tacoma-based staffing agency TrueBlue. Gerald ("Jerry") Grinstein (born 1932) is an American businessman, the former Chief Executive Officer (CEO) of Delta Air Lines. Total returns and value of stock owned (including all classes) is based on Mar. Please note GuruFocus will not track the insiders transaction performance if he/she does not have buying transactions. Methodology: Other recent insider transactions involving The Brink's Co (BCO) include 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. . "The timing seemed right," Lyn Grinstein said. He had an incredible sense of humor. On average, Delta Air Lines executives and independent directors trade stock every 20 days with the average trade being worth of $4,340,244. According to Wikipedia, Forbes, IMDb & Various Online resources, famous Philanthropist Gerald Ronson's net worth is $1-5 Million at the age of 80 years old. We use cookies to provide you with a great experience and to help our website run effectively. Grinstein successfully guided Delta through a period of belt-tightening and restructuring, including filing for Chapter 11 bankruptcy protection. Director Thanh Tan details the personal journey that inspired the first season of Crosscut Origins. Other key executives at PACCAR Inc include Bar: District of Columbia, Washington. Wise counsel from a wise man: Do one thing well. Gerald Grinstein is a Co-Founder and serves as Strategic Director at Madrona Venture Group. Start a company in the Pacific Northwest. He reduced his own pay by 25%, to approximately $325,000 per year. 1Annualized. MFAN's Open Letter to the President on the U.S. Things didn't work out as Grinstein had hoped. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. 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.