of 111,326 shares. "Just imagine that you'll only live to be 40," Keith said. Other key executives at PACCAR Inc include It has three transcontinental routes that provide rail connections between the western and eastern United States. gerald grinstein net worth. [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. 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. These cookies will be stored in your browser only with your consent. 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. View Gerald Grinstein results including current phone number, address, relatives, background check report, and property record with Whitepages. Donations may be made in Mr. Grinsteins memory to the Humane Society of Seattle-King County, 16495 N.E. At the time of the bankruptcy filing, Delta's total debt was approximately $23.8 billion. So when Gerald Grinstein retired last year and headed back to Seattle, he struck a deal with Gates. 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. 3Three-year total. C.E. 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. Als Gerald Grinstein vor knapp zwei Jahren den Posten als Vorstandschef bei der amerikanischen Fluggesellschaft Delta Air Lines. Exchange trademark and copyright notices. V.P. We also use third-party cookies that help us analyze and understand how you use this website. "Michael Jordan," Keith said. He ended his service to Delta by retiring from his position as CEO in 2003, and as chairman of the board in 2004. Sanjay Gupta's net worth is $12 million. Gerald Grinstein. 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. Other recent insider transactions involving The Brink's Co (BCO) include Sources: Latest available company proxy statements; FT Interactive Data via FactSet Research Systems; Hemscott, Inc.(www.hemscottdata.com). 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. US Airways was a major U.S. airline that operated from 1937 until its merger with American Airlines in 2015. 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. read more (market . 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 VICE PRESIDENT/GENERAL COUNSEL Michael K Walton It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. ", "Congress Looks at Possible Delta-US Air Merger. EVP - Chief of Operations John E Laughter "He does just one thing. 4. Vice President Paulo Henrique Bolgar Browse 63 gerald grinstein stock photos and images available or start a new search to explore more stock photos and images. He became CEO of Delta in 2004, a time of financial crisis for the airline. His new salary was set at $17,600. It generates maximum revenue from the North America segment, namely from its core business of cash-in-transit and ATM services. He became CEO of Delta in 2004, a time of financial crisis for the airline. of 8,500 shares made by Simon Davis For Mr. Grinsteins 40th birthday, Second Avenue filmed a 10-minute video featuring short interviews with local business people. Basketball. 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. MFAN's Open Letter to the President on the U.S. Some of our most successful entrepreneurs are really inventors at heart. California Weighs $360,000 in Reparations to Eligible Black Residents. By using this website, you agree to our use of cookies. 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. a net 4Less than 0.01%. Gerald's mailing address filed with the SEC is DELTA AIR LINES, INC., P.O. 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. In addition to his work in medicine and broadcast journalism, he has . Median net worth . . Keith was, make no mistake, a frenetic presence. Email. The Brink's Co (BCO) When the company emerged from Chapter 11 in 2007 . AMR filed for Chapter11 bankruptcy protection in November 2011. ", "DELTA IN TRANSITION\ MULLIN ERA COMES TO A SURPRISE CLOSE.(Business). Known internationally as U.S.-ALPA, ALPA is also a member of the IFALPA. Delta Air Service was incorporated on December 3, 1928, and named after the Mississippi Delta region. Gerald Grinstein made Lyn Grinstein politely declined to say how much the house will cost. He spent a cool $71,000 for his Tesla, in large part because it is U.S. built, incorporates U.S. technology, and is the result of U.S. innovation. On average, Delta Air Lines executives and independent directors trade stock every 20 days with the average trade being worth of $4,340,244. Above is the net worth, insider trading, and ownership report for Gerald Grinstein. EVP Daniel J Castillo [1] In this position he helped form the corporate entity that resulted in BN's merger which formed the BNSF Railway. Prior to taking on the CEO role of Delta, Grinstein also served as non-executive chairman of Agilent Technologies from 1999 through November 2002 . As of 3 May 2007 Gerald still owns at least 1,000 units of Delta Air Lines stock. Refer a Friend and Earn One Month of Free Membership. Named for its creator, "Grinstein Green" was applied to the train's F-units along with a cream colored stripe down the middle. 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. 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. You can see the complete history of Gerald Grinstein stock trades at the bottom of the page. and Gerald Grinstein of Burlington Northern Inc.; . It's a community that's done enormous good, recasting funding priorities and embracing transparency. 6New chief executive; compensation may be for another executive office. (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). 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 company's only surviving airline, Pinnacle, became Endeavor Air. 1. A Seattle native, Jerry is a graduate of Yale University and Harvard Law School. It was the brainchild of William Boeing and emerged from his consolidation of numerous carriers and equipment manufacturers from 1928 to 1930. Edward H. Bastian is an American business executive. 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. Gerald Grinstein, 56 years old, will take over as president and chief executive of Burlington Northern, effective Jan. 1. and On September 14, 2005, Delta and its subsidiaries filed a petition for bankruptcy protection under Chapter 11 of the U.S. Bankruptcy Code. [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. Things didn't work out as Grinstein had hoped. . ", "Delta Air Lines needs to cut costs, says CEO. On the first anniversary of Russia's invasion, dozens gathered at St. Johns Episcopal Church to honor the lives lost. 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. Delta, which had previously sold its fuel hedges in a move to raise cash, was forced into an untenable cash position. He was beloved by many, many people.. Gerald Grinstein Net Worth (2022) | wallmine NM: Not meaningful. He was CEO of Burlington Northern Railroad from 1985 to 1995, and joined Delta's board of directors in 1987. Total returns and value of stock owned (including all classes) is based on Mar. Gurus may be added or dropped from the GuruFocus site at any time. That could happen sometime this summer or fall, she says. Every Sunday morning, Crosscut's weekly email sums up the best stories of the week. The bottom 50% own just 1% of the wealth in the U.S. and have a median net worth less than $122,000. (Burlington Northern CEO Gerald Grinstein) (The Competitors) (Cover Story) (Interview). Anderson inherited an angry board of directors and impatient . 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. The Bottom Line. [8]. no insider transaction in Delta Air Lines Inc (DAL). and Gerald Grinstein is the director of The Brink's Co. purchase He was succeeded by Richard Anderson, a former Northwest Airlines executive. Other key executives at Delta Air Lines Inc include Grinstein appointed new executives to Delta who assisted in the company's survival despite the airline's precarious financial position. Since 2001, the annual presidential salary has been set at $400,000. 2004-2023 GuruFocus.com, LLC. Harkness Capital Partners Team. 10Includes shares indirectly held. 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. From 1985 to 1995 Grinstein was CEO of Burlington Northern Railroad (BN). Over the past 18 months, 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. ALPA was founded on 27 July 1931 and is a member of the AFL-CIO and the Canadian Labour Congress. Controller Michael E Sweeney Grinstein received a BA from Yale University in 1954 and a JD from Harvard Law School in 1957. Re: BNSF "Gerald Grinstein" business car. Gerald Grinstein made of 0 shares. Gerald ("Jerry") Grinstein (born 1932) is an American businessman, the former Chief Executive Officer (CEO) of Delta Air Lines. 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. The car was built by Budd in 1952 as a business car for the Chicago, Burlington & Quincy RR. Three years into his tenure as CEO, he also was named Board Chairman of the International Air Transport Association (IATA), representing the worlds airlines. Del Quentin Wilber. He is the former non-executive chairman of Agilent Technologies, and former chairman and CEO of Burlington Northern (BNI), where he oversaw. Delta shed non-performing assets, slashed the mainline fleet from nine models to five, and shed thousands of jobs. All Rights Reserved. He became CEO of Delta in 2004, a time of financial crisis for the airline. Grinstein negotiated a second concessionary agreement from ALPA, imposed a second round of paycuts on nonunion employees, and froze the nonunion employee pension plan. Annualized total return during tenure covers the tenure of the executive or from the time of the IPO or available stock history. She did say the couple plan to make some changes. By subscribing, you agree to receive occasional membership emails from Crosscut/Cascade Public Media. a net The middle 40% of U.S. families own 22% of the wealth. Woolman, general manager and later Delta's first CEO, led a group of investors to acquire the company's assets. Compensation rank is based on total compensation for latest fiscal year. But will the Seattle Landmarks Board sign off? Gerald Grinstein was born on 06/26/1932 and is 90 years old. 30, 2006 stock price. He led Delta during one of the most tumultuous periods in aviation history, beginning in 1997, just as airlines were struggling to emerge from the economic crises of the early 1990s. Stock quotes provided by InterActive Data. 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. 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 He became CEO of Delta in 2004, a time of financial crisis for the airline. sale He reduced his own pay by 25%, to approximately $325,000 per year. 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. See Jerry Grinstein's compensation, career history, education, & memberships.
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