Delta expects to cut net debt by more than half to $7.6 billion at the end of 2007 from . and These cookies will be stored in your browser only with your consent. Stock quotes are delayed at least 15 minutes for Nasdaq, at least 20 minutes for NYSE/AMEX. He ended his service to Delta by retiring from his position as CEO in 2003, and as chairman of the board in 2004. EVP - Chief of Operations John E Laughter Known internationally as U.S.-ALPA, ALPA is also a member of the IFALPA. Gerald Grinstein is the director of PACCAR Inc. 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 Gerald Grinstein owns over 1,000 units of Delta Air Lines stock worth over $38,070 and over the last 19 years Gerald sold DAL stock worth over $0. a net 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. and Gerald Grinstein of Burlington Northern Inc.; . The middle 40% of U.S. families own 22% of the wealth. 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. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". On September 14, 2005, Delta and its subsidiaries filed a petition for bankruptcy protection under Chapter 11 of the U.S. Bankruptcy Code. US Airways was a major U.S. airline that operated from 1937 until its merger with American Airlines in 2015. sale 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. 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. 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. Mr. Grinstein is a co-founder of Madrona Venture Group. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The route network covered destinations in 47 states, as well as international destinations. Even before that, every president has been paid well. Daniel Allen 'Dan' Carp is the former chairman and chief executive officer of the Eastman Kodak Company. But will the Seattle Landmarks Board sign off? Keith Grinstein was such a ubiquitous Seattle business figure that it often seemed as if he knew everyone. From 1985 to 1995 Grinstein was CEO of Burlington Northern Railroad (BN). Operating Investors and Operators. After overseeing the firm's survival through bankruptcy and implementing a restructuring program, he retired as CEO in 2007. El proceso de integracin de NWA a Delta, tardar entre 12 y 24 meses, para finalmente operar bajo el mismo . One proposal involves replacing the waterscape dinosaur sculptures and all with a meadow of native plants. Its trucks are sold through over 2,300 independent dealers globally. 2Four-year total. Basketball. GuruFocus.com is not operated by a broker or a dealer. It was an improvement over the first quarter of 2003, when Delta reported $466 million in losses as the Iraq war kicked off and the SARS outbreak in Asia caused international travel to plummet . 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 Grinstein negotiated a second concessionary agreement from ALPA, imposed a second round of paycuts on nonunion employees, and froze the nonunion employee pension plan. Calculating net worth is one way to gauge financial health. By using this website, you agree to our use of cookies. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX, Founding Partner, Harkness Capital Partners LLC. The largest trade Gerald's ever made was buying 1,000 units of Delta Air Lines stock on 3 May 2007 worth over $21,750. View Gerald Grinstein results including current phone number, address, relatives, background check report, and property record with Whitepages. Wallmine is a radically better financial terminal. Brink's customer base includes financial institutions, retails, government agencies, mints, and other commercial businesses. Gerald Grinstein. It was Keith's public-service baptism, the ballast for later life. Delta's restructuring is projected to more than halve its net debt to $7.6 billion at the end of 2007 from $16.9 billion at June 30, 2005, it said. [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. Grinstein received a BA from Yale University in 1954 and a JD from Harvard Law School in 1957. "Until we create an independently supported black institution, a financial safety net, for those . 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. (Burlington Northern CEO Gerald Grinstein) (The Competitors) (Cover Story) (Interview). Jerry is a founding partner of Harkness Capital and a Board Advisor to Kane is Able. sale Compensation rank is based on total compensation for latest fiscal year. He was CEO of Burlington Northern Railroad from 1985 to 1995, and joined Delta's board of directors in 1987. a net When the company emerged from Chapter 11 in 2007 . & CHIEF TECH. "Until we create an independently supported black institution, a financial safety net, for those . Life is short. , All content in this area was uploaded by Mark Tatge on Feb 28, 2015 Donations may be made in Mr. Grinsteins memory to the Humane Society of Seattle-King County, 16495 N.E. . When calculating net worth, it may be a positive or negative number. A friend recalls a good guy of the dot-com generation of executives, a dynamo who knew the importance of living in the now. No matter what the situation was, he could always find the light side.. John Scott Kirby is an American executive currently serving as CEO of United Airlines. See Jerry Grinstein's compensation, career history, education, & memberships. Fue director ejecutivo de Burlington Northern Railroad de 1985 a 1995 y se uni a la junta directiva de Delta en 1987. The estimated Net Worth of Gerald Grinstein is at least $39 Tysic dollars as of 3 May 2007. In 1953, it was renamed Allegheny Airlines and operated under that name for a quarter-century. Previous to Gerald's current city of Seattle, WA, Gerald Grinstein lived in Atlanta GA and Medina WA. On October 1, 2010, UCH, formerly UAL Corporation, announced completion of the merger. 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. Grinstein received the Railroader of the Year award in 1996. After six months, he came up for review. sale In 1997, it rebranded as US Airways. On average, Delta Air Lines executives and independent directors trade stock every 20 days with the average trade being worth of $4,340,244. 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 . From 1985 to 1995 Grinstein was CEO of Burlington Northern Railroad (BN). 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. 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. Gerald Grinstein Net Worth 2022 and insider trades. , Today Delta is worth only $6.7 billion and Grinstein - and his team - are gone. NA: Not available or not applicable. The estimated Net Worth of Edward H Bastian is at least $56.8 Million dollars as of 31 August 2022. WOODS) BNSF 1 Gerald Grinstein - (J. 7Less than $100,000. After overseeing the firm's survival through bankruptcy and implementing a . Wells. , This paint scheme was later applied to the railroad's last order for locomotives before the merger, the EMD SD70MAC. , Since 2001, the annual presidential salary has been set at $400,000. (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 Grinstein Strategic Director. 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. 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. Above is the net worth, insider trading, and ownership report for Gerald Grinstein. A memorial service will be at 12:30 p.m. Monday (Oct. 6) at Temple De Hirsch Sinai, 1511 East Pike St., Seattle. Years later, Keith would rib his former boss, chief-of-staff Denny Miller. 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. Delta, which had previously sold its fuel hedges in a move to raise cash, was forced into an untenable cash position. Gerald has made over 1 trades of the Delta Air Lines stock since 2007, according to the Form 4 filled with the SEC. Net worth totals vary by education, age, income and other factors. Exchange trademark and copyright notices. . It was meaningful do-gooderism as an end in itself. 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. 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 The Brink's Co (BCO) , Gurus may be added or dropped from the GuruFocus site at any time. During Delta's bankruptcy, Grinstein and his management team accelerated the restructuring process that they had started in 2004. Mr. Grinstein is a graduate of Yale College and Harvard Law School. . To calculate your net worth, take inventory of what you own, as well as your outstanding debt. 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. Keith Grinstein, 1960-2008: Exec had heart for community. The bottom 50% own just 1% of the wealth in the U.S. and have a median net worth less than $122,000. Picture a young-end Baby Boomer as a throwback to . 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 . Thomas W. Horton is a partner of Global Infrastructure Partners and is lead director at Walmart Inc. and General Electric Corp. United Airlines is the third largest airline in the world, with 86,852 employees and 721 aircraft. Delta, which had previously sold its fuel hedges in a move to raise cash, was forced into an untenable cash position. 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. I continued pressing. CCAir, Inc. was a regional airline headquartered in Charlotte, North Carolina, United States. The car was built in 1952 for then CB&Q President Harry Murphy. In the meantime, the Grinsteins are renting a home nearby. VICE PRESIDENT/GENERAL COUNSEL Michael K Walton (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). sale The first step is to calculate the net worth of the individual at the start and end of the period. Gerald Grinstein Net Worth (2022) | wallmine [5] In negotiations with ALPA, the Delta pilots' union, he secured deep concessions in order to help the company stave off bankruptcy. Gerald ("Jerry") Grinstein (born 1932) is an American businessman, the former Chief Executive Officer (CEO) of Delta Air Lines. 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. Keith Grinstein, who died unexpectedly on Sunday, Sept. 28, at age 48, was a kinetic entrepreneur and altruist, as hilarious as he was intense. 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. 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. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. sale He'd rock in his armchair and rapid-fire acronyms, liquidity trends, and other arcana. 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. gerald grinstein net worth. By 2007, Delta's mainline operation employed approximately 47,000, down from a high of 78,000 in 2001. Friends and business associates said Monday they were struggling to cope with the news of his sudden death. All Rights Reserved. Hurricane Katrina resulted in a dramatic spike in jet fuel prices in Atlanta, which houses Delta's largest hub operation. Musk Made a Mess at Twitter. We also use third-party cookies that help us analyze and understand how you use this website. 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. 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. 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. Grinstein appointed new executives to Delta who assisted in the company's survival despite the airline's precarious financial position. He was CEO of Nextel International from 1996 to 1999. 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. 4. The latest Delta Air Lines news covering business, health and safety, leadership, routes and waivers, Delta people, our values and more. Grinstein was the CEO of Delta Air Lines from 2004 to 2007. PACCAR Inc (PCAR)'s detailed insider trading history can be found in Insider Trading Tracker table. "Just imagine that you'll only live to be 40," Keith said. And he thrives.". Over the past 18 months, Gerald ("Jerry") Grinstein (nacido en 1932) es un hombre de negocios estadounidense, ex director ejecutivo (CEO) de Delta Air Lines . 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. 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. Just another site gerald grinstein net worth 4. Bressler retired in 1990, and Grinstein assumed the additional post of chairman. In summary, during the past 3 months, insiders sold 0 shares of The Brink's Co (BCO) in total and bought 0 shares, with a net "I don't think we'll be as interesting.". 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. Por lo tanto, el directorio actu; lo encabezaba nada menos que Gerald Grinstein. There isnt anyone in business in Seattle who doesnt know Keith. 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. and He reduced his own pay by 25%, to approximately $325,000 per year. Things didn't work out as Grinstein had hoped. [1] In this position he helped form the corporate entity that resulted in BN's merger which formed the BNSF Railway. Under Review. 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. blockbuster store still open near haarlem. She did say the couple plan to make some changes. California Weighs $360,000 in Reparations to Eligible Black Residents. He was 48. They lived just across the street for years before moving to Fort Worth, Texas, home of Burlington Northern's headquarters. , He became CEO of Delta in 2004, a time of financial crisis for the airline. of 17,976 shares. Gerald Grinstein made Other recent insider transactions involving The Brink's Co (BCO) include Del Quentin Wilber. Methodology: Other recent insider transactions involving Delta Air Lines Inc (DAL) include I would quietly write down what few nuggets I could comprehend, usually "Dow Jones" and "buy low." Grinstein also set about regaining the trust and confidence of Delta's employees. [8], ""Our rhetoric was terrific, but the performance wasn't there." [3]. sale Gerald ("Jerry") Grinstein (born 1932) is an American businessman, the former Chief Executive Officer (CEO) of Delta Air Lines.He was CEO of Burlington Northern Railroad from 1985 to 1995, and joined Delta's board of directors in 1987. Grinstein appointed new executives to Delta who assisted in the company's survival despite the airline's precarious financial position. 24/7 Wall Street. 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 He reduced his own pay by 25%, to approximately $325,000 per year. The Brink's Co (BCO)'s detailed insider trading history can be found in Insider Trading Tracker table. According to BRHS Burlington Bulletin #17, when informed that Budd was building a similar car for AT&SF President Fred Gurley (a former Q official), Murphy left the design details of the new car up to the Mechanical . , Gerald's mailing address filed with the SEC is DELTA AIR LINES, INC., P.O. Click here to see the complete history of Gerald Grinsteins form 4 insider trades. ", "Delta Air Lines needs to cut costs, says CEO. sale ALPA was founded on 27 July 1931 and is a member of the AFL-CIO and the Canadian Labour Congress. 1. ", "Railroaders of the year: matchmakers Rob Krebs, Jerry Grinstein. Gerald ("Jerry") Grinstein (born 1932) is an American businessman, the former Chief Executive Officer (CEO) of Delta Air Lines. a net UAL Corporation is the former name of United Airlines Holdings, an airline holding company, incorporated in Delaware with headquarters in Chicago, Illinois. Then you get to live here.. He was CEO of Burlington Northern Railroad from 1985 to 1995, and joined Delta's board of directors in 1987. Jerry is also a board member of the William D. Ruckelshaus Center. The use of the net worth method is demonstrated in the figure below. Every Sunday morning, Crosscut's weekly email sums up the best stories of the week. Efficiency rank is based on our chief executive's performance/pay score. Wherever he landed in life or career, Keith was bound to a legacy of service. 1Annualized. Provides CEO, CFO, Director and Chief Executives trade reports, independent equity research, and stock screening. Gerald Grinstein. 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. Hurricane Katrina resulted in a dramatic spike in jet fuel prices in Atlanta, which houses Delta's largest hub operation. NM: Not meaningful. Mr. Grinstein has been with the company for 2 years.The 73 year old executive ranks 15 within Transportation Education College: Yale BA '54 He sought to maintain communication with the Delta Board Council and with representatives of frontline employees. , There was a dervish-style coherence to his method, but I was clueless. Lee Moak is a government relations and public affairs consultant and one of the founders of The Moak Group, a public affairs, advocacy, and business consulting firm located in Washington, D.C. Before joining Delta Air Lines and working his way up to a B-767 Delta Air Lines captain, Moak served as a Marine Corps pilot, and as president of the Air Line Pilots Association, International (ALPA), the world's largest non-governmental aviation safety organization. What is Gerald Grinstein's Net Worth? In Fort Worth, The Civilized West, . Senator Warren G. Magnuson. Delta Air Lines is a major American airline. At the time of the bankruptcy filing, Delta's total debt was approximately $23.8 billion. Email. [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. of 153,713 shares. 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. , You might contact Gerald Grinstein via mailing address: 395 Page Mill Rd, Palo Alto Ca 94306. Other key executives at PACCAR Inc include We'll focus on the median and average net worth figures for different age groups: Age of head of family.
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