[5] In negotiations with ALPA, the Delta pilots' union, he secured deep concessions in order to help the company stave off bankruptcy. [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. Based on ownership reports from SEC filings, as the reporting owner, Gerald Grinstein owns 3 companies in total, including 4. Jerry is a founding partner of Harkness Capital and a Board Advisor to Kane is Able. Grinstein successfully guided Delta through a period of belt-tightening and restructuring, including filing for Chapter 11 bankruptcy protection. sale It is important to find the opening and closing net worth using the same asset value . "Michael Jordan," Keith said. Stock quotes are delayed at least 15 minutes for Nasdaq, at least 20 minutes for NYSE/AMEX. a net Por lo tanto, el directorio actu; lo encabezaba nada menos que Gerald Grinstein. 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." All Rights Reserved. Gerald has made over 1 trades of the Delta Air Lines stock since 2007, according to the Form 4 filled with the SEC. sale ACE Aviation Holdings, the Canadian parent of Air Canada retained a roughly 6.1% investment stake in US Airways Group. of 153,713 shares. Calculating net worth is one way to gauge financial health. You might contact Gerald Grinstein via mailing address: 395 Page Mill Rd, Palo Alto Ca 94306. NM: Not meaningful. a net 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. Bill Gates bought the place from Sikma in 1993 for $8 million. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. But will the Seattle Landmarks Board sign off? Director Thanh Tan details the personal journey that inspired the first season of Crosscut Origins. . On the same date, Thomas H. O'Leary, 54, will become president and chief . 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. Most recently Gerald bought 1,000 units of DAL stock worth $21,750 on 3 May 2007. 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. purchase It was humbling. The route network covered destinations in 47 states, as well as international destinations. It is mandatory to procure user consent prior to running these cookies on your website. The Bottom Line. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. Picture a young-end Baby Boomer as a throwback to . 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. Things didn't work out as Grinstein had hoped. He served as a Chief Counsel to the United States Senate Commerce Committee and a Counsel to the Merchant Marine and Transportation Subcommittee. Donations may be made in Mr. Grinsteins memory to the Humane Society of Seattle-King County, 16495 N.E. Mr. Grinstein grew up in a prominent Seattle family. 1470: BNSF 1: Gerald Grinstein: Budd: 1952: Business 2 suites, Buffet, w/kitchen lounge: ex-CB&Q: 1471: BNSF 4: Missouri River: Pullman: 1955: Business 2 suites . 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. Known internationally as U.S.-ALPA, ALPA is also a member of the IFALPA. BNSF No. of 4,880 shares. 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 A friend recalls a good guy of the dot-com generation of executives, a dynamo who knew the importance of living in the now. "The timing seemed right," Lyn Grinstein said. It's a "what if" that only magnifies the grief, the break of a generational thread that can't be mended. 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. ""Our rhetoric was terrific, but the performance wasn't there." & CHIEF TECH. Most recently Gerald bought 1,000 units of DAL stock worth $21,750 on 3 May 2007. , 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. Years later, Keith would rib his former boss, chief-of-staff Denny Miller. The analogy sounded a little too simple. Enjoy a 7-Day Free Trial Thru Mar 11, 2023! and He was 48. EVP & Chief Financial Officer Daniel C. Janki Email. When he is not at work, you may find him sneaking off to fly fish or trying a new restaurant. Over the past 18 months, "I don't think we'll be as interesting.". Vice President Paulo Henrique Bolgar Above is the net worth, insider trading, and ownership report for Gerald Grinstein. BOX 20574, ATLANTA, GA, 30320. During Delta's bankruptcy, Grinstein and his management team accelerated the restructuring process that they had started in 2004. 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. By subscribing, you agree to receive occasional membership emails from Crosscut/Cascade Public Media. Over the past 18 months, Mr. Grinstein has been with the company for 2 years.The 73 year old executive ranks 15 within Transportation Education College: Yale BA '54 This investment adviser does not provide advice to individual investors. Delta shed non-performing assets, slashed the mainline fleet from nine models to five, and shed thousands of jobs. Built in 1941, the Evergreen Point Road mansion once was home to former SuperSonics star Jack Sikma. Click here to see the complete history of Gerald Grinsteins form 4 insider trades. [2] While at the helm of BN, Grinstein adopted a new paint scheme for the railroad's executive office car train. "Some of our most successful entrepreneurs are really inventors at heart. He was CEO of Burlington Northern Railroad from 1985 to 1995, and joined Delta's board of directors in 1987. Gerald has made over 1 trades of the Delta Air Lines stock since 2007, according to the Form 4 filled with the SEC. He and his wife have lived there while overseeing work on their nearly finished $65 million estate a few blocks away. Paccar Financial Services provides retail and wholesale financing for customers and dealers, respectively. sale 1. It has three transcontinental routes that provide rail connections between the western and eastern United States. "Until we create an independently supported black institution, a financial safety net, for those . 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. This paint scheme was later applied to the railroad's last order for locomotives before the merger, the EMD SD70MAC. Three years into his tenure as CEO, he also was named Board Chairman of the International Air Transport Association (IATA), representing the worlds airlines. 74th St., Redmond, WA 98052, or another charity. Other recent insider transactions involving The Brink's Co (BCO) include Wells. . EVP-Chief Cust Experience Offr Allison C Ausband Gerald's mailing address filed with the SEC is DELTA AIR LINES, INC., P.O. Basketball. Will His AI Plans Be Any Different? At the time of the bankruptcy filing, Delta's total debt was approximately $23.8 billion. 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. He'd rock in his armchair and rapid-fire acronyms, liquidity trends, and other arcana. US Airways Group Inc. was an airline holding company based in Tempe, Arizona. 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. 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. Gerald Ronson earned the money being a professional Philanthropist. , (Gerald Grinstein says)(Brief Article). After overseeing the firm's survival through bankruptcy and implementing a . Bressler retired in 1990, and Grinstein assumed the additional post of chairman. 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. 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. of 24,590 shares made by William C Carroll Delta expects to cut net debt by more than half to $7.6 billion at the end of 2007 from . of 8,500 shares made by Simon Davis V.P. 51.5 million families are in this group. of 17,976 shares. In 1997, it rebranded as US Airways. Als Gerald Grinstein vor knapp zwei Jahren den Posten als Vorstandschef bei der amerikanischen Fluggesellschaft Delta Air Lines. There was a dervish-style coherence to his method, but I was clueless. This category only includes cookies that ensures basic functionalities and security features of the website. The estimated Net Worth of Edward H Bastian is at least $56.8 Million dollars as of 31 August 2022. 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. View Gerald Grinstein results including current phone number, address, relatives, background check report, and property record with Whitepages. Gerald Grinstein has been CEO of Delta Air Lines for 1 years. Delta, which had previously sold its fuel hedges in a move to raise cash, was forced into an untenable cash position. He was 48. He returned to Madrona in late 2007 after a leave of absence serving as CEO of Delta Air Lines for almost four years. It was a dance of identical twins with one time-traveling sibling three decades younger than the other. , Most recently Gerald bought 1,000 units of DAL stock worth $21,750 on 3 May 2007. 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. Author: burlingtonjohn. George Washington's salary of $25,000 was . 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 Ronson is from British. The Burlington Northern Railroad was a United States-based railroad company formed from a merger of four major U.S. railroads. Will Others Follow? 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. Mullin achieved particular prominence following the September 11, 2001 tragedy when, with the airline industry on the brink of failure, he served as the chief legislative and public spokesperson for the industrys recovery program. why is accuracy important in customer service. 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). Grinstein received a BA from Yale University in 1954 and a JD from Harvard Law School in 1957. 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. of 57,951 shares made by Harrie Schippers Bar: District of Columbia, Washington. 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. ALPA was founded on 27 July 1931 and is a member of the AFL-CIO and the Canadian Labour Congress. Total returns and value of stock owned (including all classes) is based on Mar. . There isnt anyone in business in Seattle who doesnt know Keith. 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 . and 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. 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. Gerald Grinstein. [5] In negotiations with ALPA, the Delta pilots' union, he secured deep concessions in order to help the company stave off bankruptcy. On average, Delta Air Lines executives and independent directors trade stock every 20 days with the average trade being worth of $4,340,244. Picture a young-end Baby Boomer as a throwback to Seattle's civic lions, circa 1962. BNSF trains traveled over 169million miles in 2010, more than any other North American railroad. What is Gerald Grinstein's Net Worth? Provides CEO, CFO, Director and Chief Executives trade reports, independent equity research, and stock screening. He became CEO of Delta in 2004, a time of financial crisis for the airline. He became CEO of Delta in 2004, a time of financial crisis for the airline. Please note GuruFocus will not track the insiders transaction performance if he/she does not have buying transactions. Operating Investors and Operators. of 32,650 shares made by R Preston Feight He was CEO of Burlington Northern Railroad from 1985 to 1995, and joined Delta's board of directors in 1987. California Weighs $360,000 in Reparations to Eligible Black Residents. So when Gerald Grinstein retired last year and headed back to Seattle, he struck a deal with Gates. The Columbian black-tail deer has become a habitat threat, creating ideal conditions for invasive plants and forest fires. Se convirti en director ejecutivo de Delta en 2004, una poca de crisis financiera para la aerolnea. Keith Grinstein, who died unexpectedly on Sunday, Sept. 28, at age 48, was a kinetic entrepreneur and altruist, as hilarious as he was intense. Keith Grinstein, a 1978 graduate of Seattles Lakeside School, earned a bachelors degree from Yale University and a law degree from Georgetown. HOME PAGE FOR THE WORLD'S BUSINESS LEADERS. Jerry is a founding partner of Harkness Capital and a Board Advisor to Kane is Able. Mr. Grinstein died unexpectedly Sunday (Sept. 28) of an undisclosed cause. 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. 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. 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. With the merger that formed The Burlington Northern, the car became the "Mississippi River" and remain in the business car fleet changing name to "Gerald . Delta Air Lines Inc is airlines, with a network of over 300 destinations in more than 50 countries. Previous to Gerald's current city of Seattle, WA, Gerald Grinstein lived in Atlanta GA and Medina WA. a net US Airways was a major U.S. airline that operated from 1937 until its merger with American Airlines in 2015. read more (market . Born: c. 1932 Birthplace: Seattle, WA Gender: Male Race or Ethnicity: White Sexual orientation: Straight Occupation: Business Nationality: United States Executive summary: CEO of Delta Air Lines, 2004-07 Wife: Lyn (four children) University: Yale University (1954) Law School: Harvard Law School (1957) Administrator: Regent, University of Washington (1998-2004) But opting out of some of these cookies may affect your browsing experience. By 2007, Delta's mainline operation employed approximately 47,000, down from a high of 78,000 in 2001. Net worth is the total of one's assets minus total liabilities. (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). During Delta's bankruptcy, Grinstein and his management team accelerated the restructuring process that they had started in 2004. . Gerald Grinstein made David Brown I was acting the obnoxious Hamlet. He was CEO of Burlington Northern Railroad from 1985 to 1995, and joined Delta's board of directors in 1987. He previously served as President of US Airways and American Airlines, as well as President of United Airlines from 2016 to 2020, when he was promoted as CEO. Other key executives at The Brink's Co include Methodology: 5Prior-year data. "The timing seemed right," Lyn Grinstein said. To calculate your net worth, take inventory of what you own, as well as your outstanding debt. , A co-founder of Madrona Investment Group, Jerry served on the board of portfolio company Expedia.com. He was CEO of Nextel International from 1996 to 1999. "He does just one thing. a net 30, 2006 stock price. Delta shed non-performing assets, slashed the mainline fleet from nine models to five, and shed thousands of jobs. sale [1] In this position he helped form the corporate entity that resulted in BN's merger which formed the BNSF Railway. a net 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 was, make no mistake, a frenetic presence. Gerald ("Jerry") Grinstein (born 1932) is an American businessman, the former Chief Executive Officer (CEO) of Delta Air Lines. After overseeing the firm's survival through bankruptcy and implementing a restructuring program, he retired as CEO in 2007. He sought to maintain communication with the Delta Board Council and with representatives of frontline employees. 0:01. AMR filed for Chapter11 bankruptcy protection in November 2011. A native of Wytheville, Virginia, Carp currently lives in Naples, Florida.