Grinstein was the CEO of Delta Air Lines from 2004 to 2007. and . From 80 years of age and forward, the average net worth is $973,141 and the median is $235,193. BNSF No. The Bottom Line. Edward H. Bastian is an American business executive. , Delta Air Lines executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. 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 (2022) | wallmine Median net worth . He was CEO of Burlington Northern Railroad from 1985 to 1995, and joined Delta's board of directors in 1987. Over the past 18 months, purchase 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). The company commands approximately 30% of the Class 8 market share in North America and 17% of the heavy-duty market share in Europe. and On Thursday June 27, 2019 United changed the name of its parent company from United Continental Holdings to United Airlines Holdings. 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. Click here to see the complete history of Gerald Grinsteins form 4 insider trades. BNSF trains traveled over 169million miles in 2010, more than any other North American railroad. The use of the net worth method is demonstrated in the figure below. and Gerald Grinstein of Burlington Northern Inc.; . 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 . At the time of the bankruptcy filing, Delta's total debt was approximately $23.8 billion. Browse 63 gerald grinstein stock photos and images available or start a new search to explore more stock photos and images. And when we say own, we include assets that you may still be paying for, such as a car or a house . Grinstein successfully guided Delta through a period of belt-tightening and restructuring, including filing for Chapter 11 bankruptcy protection. He was 48. sale 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 of 32,650 shares made by R Preston Feight 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. Its trucks are sold through over 2,300 independent dealers globally. 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. Gerald Grinstein Strategic Director. 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. By 2007, Delta's mainline operation employed approximately 47,000, down from a high of 78,000 in 2001. 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. She did say the couple plan to make some changes. He was beloved by many, many people.. . "I may put a sign on the waterfront saying `Bill has moved' with an arrow pointing up the shore," she joked. I would quietly write down what few nuggets I could comprehend, usually "Dow Jones" and "buy low." He was CEO of Burlington Northern Railroad from 1985 to 1995, and joined Delta's board of directors in 1987. So when Gerald Grinstein retired last year and headed back to Seattle, he struck a deal with Gates. 9Received options or restricted stock in lieu of portion of bonus. 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. 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. 4. Analysts predicted a loss of $4.76 a share excluding special items. By 2007, Delta's mainline operation employed approximately 47,000, down from a high of 78,000 in 2001. It was also, again, a $16,000 position. 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. He was just everywhere.. Vice President Paulo Henrique Bolgar Grinstein also set about regaining the trust and confidence of Delta's employees. ". It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. On average, Delta Air Lines executives and independent directors trade stock every 20 days with the average trade being worth of $4,340,244. He returned to Madrona 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. Mr. Grinstein enjoyed traveling and flying several small airplanes that he owned. 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. On September 14, 2005, Delta and its subsidiaries filed a petition for bankruptcy protection under Chapter 11 of the U.S. Bankruptcy Code. We note that Apple's Net worth is $134.05 billion, and that of Amazon is $19.2 billion. 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. 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 why is accuracy important in customer service. 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. NM: Not meaningful. 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. Years later, Keith would rib his former boss, chief-of-staff Denny Miller. sale . Delta Air Lines Inc (DAL)'s detailed insider trading history can be found in Insider Trading Tracker table. He was CEO of Nextel International from 1996 to 1999. The route network covered destinations in 47 states, as well as international destinations. A memorial service will be at 12:30 p.m. Monday (Oct. 6) at Temple De Hirsch Sinai, 1511 East Pike St., Seattle. of 111,326 shares. Gerald Grinstein. 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. Director Thanh Tan details the personal journey that inspired the first season of Crosscut Origins. EVP-Chief Cust Experience Offr Allison C Ausband It was announced on May 3, 2010 that UAL Corporation and Continental Airlines, Inc. would pursue a merger pending government approval. Other names that Gerald uses includes Gerald B Greinstein, Gerald Grienstein, Jerry Grinstein, Gerald B Grinstein and Geral Grinstein. Annualized total return during tenure covers the tenure of the executive or from the time of the IPO or available stock history. Grinstein received a BA from Yale University in 1954 and a JD from Harvard Law School in 1957. 7Less than $100,000. 24/7 Wall Street. This paint scheme was later applied to the railroad's last order for locomotives before the merger, the EMD SD70MAC. Gerald Grinstein is the director & Chief Executive Officer of Delta Air Lines Inc. Leo F. Mullin is an American executive and civic activist who served as CEO and Chairman of Delta Air Lines (1997-2004). But opting out of some of these cookies may affect your browsing experience. 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. ""Our rhetoric was terrific, but the performance wasn't there." Start a company in the Pacific Northwest. Gerald Grinstein has been CEO of Delta Air Lines for 1 years. He and his wife have lived there while overseeing work on their nearly finished $65 million estate a few blocks away. This paint scheme was later applied to the railroad's last order for locomotives before the merger, the EMD SD70MAC. It was Keith's public-service baptism, the ballast for later life. [3]. of 57,951 shares made by Harrie Schippers It is mandatory to procure user consent prior to running these cookies on your website. GuruFocus.com is not operated by a broker or a dealer. He had an incredible sense of humor. UAL Corporation would acquire Continental Airlines, Inc. and change its name to United Continental Holdings (UCH). a net Named for its creator, "Grinstein Green" was applied to the train's F-units along with a cream colored stripe down the middle. That could happen sometime this summer or fall, she says. He became CEO of Delta in 2004, a time of financial crisis for the airline. Picture a young-end Baby Boomer as a throwback to Seattle's civic lions, circa 1962. Life is short. Grinstein also set about regaining the trust and confidence of Delta's employees. Gerald Grinstein was American air transportation executive. , Longtime friend Nick Hanauer 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). His new salary was set at $17,600. "Until we create an independently supported black institution, a financial safety net, for those . His father, Gerald Grinstein, is a former CEO of Burlington Northern and Delta Air Lines. 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 . , , He became CEO of Delta in 2004, a time of financial crisis for the airline. Based on ownership reports from SEC filings, as the reporting owner, Gerald Grinstein owns 3 companies in total, including 74th St., Redmond, WA 98052, or another charity. We rely on donations from readers like you to sustain Crosscut's in-depth reporting on issues critical to the PNW. 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. Paccar Financial Services provides retail and wholesale financing for customers and dealers, respectively. 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. From 1985 to 1995 Grinstein was CEO of Burlington Northern Railroad (BN). I continued pressing. 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. He sought to maintain communication with the Delta Board Council and with representatives of frontline employees. A co-founder of Madrona Investment Group, Jerry served on the board of portfolio company Expedia.com. There was a dervish-style coherence to his method, but I was clueless. Enjoy a 7-Day Free Trial Thru Mar 11, 2023! , Relative to market is the ending value of $100 invested in the stock, divided by the ending value of $1 invested in the S&P 500 (a score of 100 = the S&P 500). BOX 20574, ATLANTA, GA, 30320. Mr. Grinstein died unexpectedly Sunday (Sept. 28) of an undisclosed cause. Delta operates a hub-and-spoke system network, where it gathers and distributes passengers across the globe through key locations such as Atlanta, New York, Salt Lake City, Detroit, Seattle, and Minneapolis-St. Paul. and a net Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The most active insiders traders include Hathaway Incbuffett Warren , Benefit Guaranty Corp/132 1, and James M Kilts. It also operates additional companies that provide associated services. Mr. Grinstein is a co-founder of Madrona Venture Group. "We might remodel, we might start over again. 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. 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). In the meantime, the Grinsteins are renting a home nearby. We know that Gerald's political affiliation is . Basketball. 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. U.S. indexes are delayed at least 15 minutes with the exception of Nasdaq, Dow Jones Industrial Average and S&P 500 which are 2 minutes delayed. Among his survivors are his wife, Claire, his parents and his brother, Charles. 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 During Delta's bankruptcy, Grinstein and his management team accelerated the restructuring process that they had started in 2004. a net The first step is to calculate the net worth of the individual at the start and end of the period. 5Prior-year data. Keith Grinstein was such a ubiquitous Seattle business figure that it often seemed as if he knew everyone. He was CEO of Burlington Northern Railroad from 1985 to 1995, and joined Delta's board of directors in 1987. 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. We'll focus on the median and average net worth figures for different age groups: Age of head of family. "What can you say that you did with your life? 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 . 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. & CHIEF TECH. and "Just imagine that you'll only live to be 40," Keith said. It's a community that's done enormous good, recasting funding priorities and embracing transparency. 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) A co-founder of Madrona Investment Group, Jerry served on the board of portfolio company Expedia.com. The middle 40% of U.S. families own 22% of the wealth. Then you get to live here.. C.E. Most recently Gerald bought 1,000 units of DAL stock worth $21,750 on 3 May 2007. 1 carries the name "Gerald Grinstein." Grinstein was Chairman and CEO of the Railroad from 1985 to 1995, a period of extensive growth. Gerald Grinstein made UAL Corporation is the former name of United Airlines Holdings, an airline holding company, incorporated in Delaware with headquarters in Chicago, Illinois. Jerry is also a board member of the William D. Ruckelshaus Center. Terms of Use and Privacy Policy. On average, Gerald trades about 200 units every 0 days since 2004. Gerald ("Jerry") Grinstein (born 1932) is an American businessman, the former Chief Executive Officer (CEO) of Delta Air Lines. 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. LEATHERBERRY) BNSF 1 Gerald Grinstein - (E.C . His mother, Rosalie Alhadeff, is part of the family that created the Longacres horse-racing track in Renton. HOME PAGE FOR THE WORLD'S BUSINESS LEADERS. Mr Bastian owns over 47,500 units of Delta Air Lines stock worth over $15,301,796 and over the last 18 years he sold DAL stock worth over $40,887,727. ACE Aviation Holdings, the Canadian parent of Air Canada retained a roughly 6.1% investment stake in US Airways Group. [2] While at the helm of BN, Grinstein adopted a new paint scheme for the railroad's executive office car train. Mr. Grinstein died unexpectedly Sunday (Sept. 28) of an undisclosed cause. 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. a net of 1,500 shares made by Timothy Joseph Tynan There isnt anyone in business in Seattle who doesnt know Keith. ", "Congress Looks at Possible Delta-US Air Merger. When he is not at work, you may find him sneaking off to fly fish or trying a new restaurant. 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. 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. 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[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. read more (market . (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). This investment adviser does not provide advice to individual investors. 1:06. [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. Keith Grinstein, who died unexpectedly on Sunday, Sept. 28, at age 48, was a kinetic entrepreneur and altruist, as hilarious as he was intense. purchase When calculating net worth, it may be a positive or negative number. 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. Previous to Gerald's current city of Seattle, WA, Gerald Grinstein lived in Atlanta GA and Medina WA. The Burlington Northern Railroad was a United States-based railroad company formed from a merger of four major U.S. railroads. Too many, however, have boosted vanity projects or expressed do-gooderism as an extension of themselves. Its chief executive, Gerald Grinstein, plans to leave the leadership post after a successor is found. In Fort Worth, The Civilized West, . a net Sanjay Gupta's net worth is $12 million. John Scott Kirby is an American executive currently serving as CEO of United Airlines. Today Delta is worth only $6.7 billion and Grinstein - and his team - are gone. 1. We also use third-party cookies that help us analyze and understand how you use this website. Other key executives at Delta Air Lines Inc include ALPA was founded on 27 July 1931 and is a member of the AFL-CIO and the Canadian Labour Congress. In the example, we've denoted them as current net worth (NWc) and past net worth (NWp). Grinstein received the Railroader of the Year award in 1996. David Brown Net worth is the total of one's assets minus total liabilities. All Rights Reserved. VICE PRESIDENT/GENERAL COUNSEL Michael K Walton Other recent insider transactions involving PACCAR Inc (PCAR) include ", "DELTA IN TRANSITION\ MULLIN ERA COMES TO A SURPRISE CLOSE.(Business). AMR filed for Chapter11 bankruptcy protection in November 2011. After overseeing the firm's survival through bankruptcy and implementing a restructuring program, he retired as CEO in 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. a net Let us take the example of Apple and Amazon. Keith made some jokes at his own expense and finally leaned forward and said something quasi-Scandanavian, a sentiment that spoke to my Ingmar Bergman-esque soul. 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. Grinstein negotiated a second concessionary agreement from ALPA, imposed a second round of paycuts on nonunion employees, and froze the nonunion employee pension plan. Delta, which had previously sold its fuel hedges in a move to raise cash, was forced into an untenable cash position. Just another site gerald grinstein net worth Controller Michael E Sweeney Se convirti en director ejecutivo de Delta en 2004, una poca de crisis financiera para la aerolnea. Gerald Grinstein is the director of The Brink's Co. According to author Harry Nolan, Harris led the latter three airlines "out of the turbulence of financial instability toward profitability." Jerry Grinstein is Founding Partner at Harkness Capital Partners LLC. (Burlington Northern CEO Gerald Grinstein) (The Competitors) (Cover Story) (Interview). You might contact Gerald Grinstein via mailing address: 395 Page Mill Rd, Palo Alto Ca 94306. Gerald ("Jerry") Grinstein (born 1932) is an American businessman, the former Chief Executive Officer (CEO) of Delta Air Lines. blockbuster store still open near haarlem. , US Airways was a major U.S. airline that operated from 1937 until its merger with American Airlines in 2015. Fue director ejecutivo de Burlington Northern Railroad de 1985 a 1995 y se uni a la junta directiva de Delta en 1987. Gurus may be added or dropped from the GuruFocus site at any time. 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. Grinstein received the Railroader of the Year award in 1996.[3]. MFAN's Open Letter to the President on the U.S. The Latin America and Europe segments trail North America in revenue earnings with the Brinks Global Services line of business that specializes in the secure transportation of high-valued commodities, such as jewelry, precious metals, banknotes, and electronics. Gerald Grinstein made Though environmentalists would like to cite him as an example of big business concern for the environment, he says . "We aren't sure what we will do with it," she said. 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. Harkness Capital Partners Team. "I don't think we'll be as interesting.". Everybody said, Yeah, I know Keith Grinstein hes my best friend, Hanauer recalled. You have to seize something now, something you love, and run with it.". Will His AI Plans Be Any Different? . 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. However, their market capitalization Market Capitalization Market capitalization is the market value of a company's outstanding shares. For example, if someone owes more than the total value of their assets, they have a negative net worth. Woolman, general manager and later Delta's first CEO, led a group of investors to acquire the company's assets. 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. One proposal involves replacing the waterscape dinosaur sculptures and all with a meadow of native plants. Even before that, every president has been paid well. 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. During the past 18 months, 157,206 shares of Delta Air Lines Inc (DAL) were sold and 45,880 shares were bought by its insiders, resulting in a net

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