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Every Sunday morning, Crosscut's weekly email sums up the best stories of the week. no insider transaction in Delta Air Lines Inc (DAL). Most recently Gerald bought 1,000 units of DAL stock worth $21,750 on 3 May 2007. We rely on donations from readers like you to sustain Crosscut's in-depth reporting on issues critical to the PNW. and Based on ownership reports from SEC filings, as the reporting owner, Gerald Grinstein owns 3 companies in total, including Hurricane Katrina resulted in a dramatic spike in jet fuel prices in Atlanta, which houses Delta's largest hub operation. 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. Terms of Use and Privacy Policy. 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 . What should I do with my life? This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, No Major Offer Expected on Childcare in UK Budget, Biden Gives Medal of Honor to Trailblazing Special Forces Member, Climate Change Is Launching a MutantSeed Space Race, UK Braces for Rare Weather Event That Risks Late-Winter Freeze, This Former Factory Is Now New Taipeis Edgiest Project, What Do You Want to See in a Covid Memorial? The company commands approximately 30% of the Class 8 market share in North America and 17% of the heavy-duty market share in Europe. We'll focus on the median and average net worth figures for different age groups: Age of head of family. a net The couple already have found a buyer for the $8 million Medina mansion they now call home: family friend and former Burlington Northern Railroad Chairman Gerald Grinstein. Anderson inherited an angry board of directors and impatient . 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. 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. 3 U.S. domestic carrier, on Monday emerged from Chapter 11 bankruptcy protection Net worth is the total of one's assets minus total liabilities. The first step is to calculate the net worth of the individual at the start and end of the period. 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. Northwest also performed worse than expected, losing $5.07 a . Annualized total return during tenure covers the tenure of the executive or from the time of the IPO or available stock history. ". He sought to maintain communication with the Delta Board Council and with representatives of frontline employees. Mr. Grinstein enjoyed traveling and flying several small airplanes that he owned. Burlington Northern operated between 1970 and 1996. "The timing seemed right," Lyn Grinstein said. 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. , One proposal involves replacing the waterscape dinosaur sculptures and all with a meadow of native plants. Gerald Grinstein. EVP-Chief Cust Experience Offr Allison C Ausband However, their market capitalization Market Capitalization Market capitalization is the market value of a company's outstanding shares. Author: burlingtonjohn. It has three transcontinental routes that provide rail connections between the western and eastern United States. 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. After overseeing the firm's survival through bankruptcy and implementing a restructuring program, he retired as CEO in 2007. 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 . 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 . , Keith Grinstein, a 1978 graduate of Seattles Lakeside School, earned a bachelors degree from Yale University and a law degree from Georgetown. UAL Corporation would acquire Continental Airlines, Inc. and change its name to United Continental Holdings (UCH). There isnt anyone in business in Seattle who doesnt know Keith. He became CEO of Delta in 2004, a time of financial crisis for the airline. "We might remodel, we might start over again. 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. Gerald Grinstein Strategic Director. Carp served as the chairman of the board of Delta Air Lines, replacing former chairman Gerald Grinstein. Musk Made a Mess at Twitter. Senator Warren G. Magnuson. . purchase Today Delta is worth only $6.7 billion and Grinstein - and his team - are gone. WOODS) BNSF 1 Gerald Grinstein - (J. "Michael Jordan," Keith said. After overseeing the firm's survival through bankruptcy and implementing a . HOME PAGE FOR THE WORLD'S BUSINESS LEADERS. . 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. Delta shed non-performing assets, slashed the mainline fleet from nine models to five, and shed thousands of jobs. His mother, Rosalie Alhadeff, is part of the family that created the Longacres horse-racing track in Renton. Methodology: I began to wax Bohemian. The analogy sounded a little too simple. [1] In this position he helped form the corporate entity that resulted in BN's merger which formed the BNSF Railway. Total returns and value of stock owned (including all classes) is based on Mar. of 29,672 shares made by Joanne D Smith "Until we create an independently supported black institution, a financial safety net, for those . Other recent insider transactions involving PACCAR Inc (PCAR) include US Airways was a major U.S. airline that operated from 1937 until its merger with American Airlines in 2015. Among his survivors are his wife, Claire, his parents and his brother, Charles. Sources: Latest available company proxy statements; FT Interactive Data via FactSet Research Systems; Hemscott, Inc.(www.hemscottdata.com). . 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. Gerald ("Jerry") Grinstein (born 1932) is an American businessman, the former Chief Executive Officer (CEO) of Delta Air Lines. After six months, he came up for review. Three years into his tenure as CEO, he also was named Board Chairman of the International Air Transport Association (IATA), representing the worlds airlines. Delta Air Lines Inc (DAL) Grinstein appointed new executives to Delta who assisted in the company's survival despite the airline's precarious financial position. Stock quotes provided by InterActive Data. [1] In this position he helped form the corporate entity that resulted in BN's merger which formed the BNSF Railway. In summary, during the past 3 months, insiders sold 153,713 shares of PACCAR Inc (PCAR) in total and bought 0 shares, with a net In 1953, it was renamed Allegheny Airlines and operated under that name for a quarter-century. You also have the option to opt-out of these cookies. , It was originally founded in Pittsburgh as a mail delivery airline called All American Aviation, which soon became a commercial passenger airline. 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. The Brink's Co (BCO)'s detailed insider trading history can be found in Insider Trading Tracker table. Gerald Grinstein, 56 years old, will take over as president and chief executive of Burlington Northern, effective Jan. 1. A memorial service will be at 12:30 p.m. Monday (Oct. 6) at Temple De Hirsch Sinai, 1511 East Pike St., Seattle. By. Efficiency rank is based on our chief executive's performance/pay score. 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. Keith Grinstein, 1960-2008: Exec had heart for community. Grinstein received a BA from Yale University in 1954 and a JD from Harvard Law School in 1957. Calculating net worth is one way to gauge financial health. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Compensation percent change is based on combined salary and bonus. [5] In negotiations with ALPA, the Delta pilots' union, he secured deep concessions in order to help the company stave off bankruptcy. Then you get to live here.. sale 4Less than 0.01%. Operating Investors and Operators. They lived just across the street for years before moving to Fort Worth, Texas, home of Burlington Northern's headquarters. Gerald's mailing address filed with the SEC is DELTA AIR LINES, INC., P.O. Grinstein and his wife Carolyn live in Medina, Washington. Years later, Keith would rib his former boss, chief-of-staff Denny Miller. NM: Not meaningful. It was Keith's public-service baptism, the ballast for later life. sale UAL Corporation is the former name of United Airlines Holdings, an airline holding company, incorporated in Delaware with headquarters in Chicago, Illinois. Gerald has made over 1 trades of the Delta Air Lines stock since 2007, according to the Form 4 filled with the SEC. 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 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 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. At the time of the bankruptcy filing, Delta's total debt was approximately $23.8 billion. Things didn't work out as Grinstein had hoped. 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. ", William Ruckelshaus, Gerald Grinstein celebrate 80th birthdays with salmon-fishing trip | The Seattle Times. Median net worth . Jerry is also a board member of the William D. Ruckelshaus Center. Named for its creator, "Grinstein Green" was applied to the train's F-units along with a cream colored stripe down the middle. "Come on," Denny reminded him. 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 expects to cut net debt by more than half to $7.6 billion at the end of 2007 from . Grinstein also set about regaining the trust and confidence of Delta's employees. Looking for some big-brother-ish guidance a few years back, I met up with Keith at the Montlake neighborhood Starbucks. It generates maximum revenue from the North America segment, namely from its core business of cash-in-transit and ATM services. 6New chief executive; compensation may be for another executive office. It was the brainchild of William Boeing and emerged from his consolidation of numerous carriers and equipment manufacturers from 1928 to 1930. Mr. Grinstein has been with the company for 2 years.The 73 year old executive ranks 15 within Transportation Education College: Yale BA '54 AMR filed for Chapter11 bankruptcy protection in November 2011. 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. The latest Delta Air Lines news covering business, health and safety, leadership, routes and waivers, Delta people, our values and more. 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. Other key executives at The Brink's Co include Se convirti en director ejecutivo de Delta en 2004, una poca de crisis financiera para la aerolnea. 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. Everybody said, Yeah, I know Keith Grinstein hes my best friend, Hanauer recalled. Commitment to Global Development will be featured in a print ad this Thursday and you don't want to miss it. 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. 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. Over the past 18 months, 1Annualized. Most recently Gerald bought 1,000 units of DAL stock worth $21,750 on 3 May 2007. 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 company's only surviving airline, Pinnacle, became Endeavor Air. He is very patriotic when it comes to his business and personal life. PACCAR Inc (PCAR)'s detailed insider trading history can be found in Insider Trading Tracker table. a net of 32,650 shares made by R Preston Feight Gerald Ronson is from British. On average, Delta Air Lines executives and independent directors trade stock every 20 days with the average trade being worth of $4,340,244. Gerald Grinstein was born on 06/26/1932 and is 90 years old. Browse 63 gerald grinstein stock photos and images available or start a new search to explore more stock photos and images. 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. Start a company in the Pacific Northwest. of 0 shares. On Thursday June 27, 2019 United changed the name of its parent company from United Continental Holdings to United Airlines Holdings. a net From 80 years of age and forward, the average net worth is $973,141 and the median is $235,193. ", "DELTA IN TRANSITION\ MULLIN ERA COMES TO A SURPRISE CLOSE.(Business). Keith Grinstein, who died unexpectedly on Sunday, Sept. 28, at age 48, was a kinetic entrepreneur and altruist, as hilarious as he was intense. Primary Income source Philanthropist (profession). 74th St., Redmond, WA 98052, or another charity. of 22,000 shares made by David S Taylor no insider transaction in The Brink's Co (BCO). [2] While at the helm of BN, Grinstein adopted a new paint scheme for the railroad's executive office car train. 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. Wallmine is a radically better financial terminal. He was CEO of Burlington Northern Railroad from 1985 to 1995, and joined Delta's board of directors in 1987. John Scott Kirby is an American executive currently serving as CEO of United Airlines. Compensation rank is based on total compensation for latest fiscal year. He had an incredible sense of humor. El proceso de integracin de NWA a Delta, tardar entre 12 y 24 meses, para finalmente operar bajo el mismo . read more (market . 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. Click here to see the complete history of Gerald Grinsteins form 4 insider trades. Bar: District of Columbia, Washington. 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Delta Air Service was incorporated on December 3, 1928, and named after the Mississippi Delta region. of 57,951 shares made by Harrie Schippers 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) Mr. Grinstein is a graduate of Yale College and Harvard Law School. Necessary cookies are absolutely essential for the website to function properly. When its one-time expenses were included, Delta lost $7.64 a share. Jerry is a founding partner of Harkness Capital and a Board Advisor to Kane is Able. It was humbling. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. 5Prior-year data. [8]. WOODS) BNSF 1 Gerald Grinstein - (E.C. [2] While at the helm of BN, Grinstein adopted a new paint scheme for the railroad's executive office car train. The estimated Net Worth of Gerald Grinstein is at least $38.1 Thousand dollars as of 3 May 2007. 24/7 Wall Street. [5] In negotiations with ALPA, the Delta pilots' union, he secured deep concessions in order to help the company stave off bankruptcy. Leo F. Mullin is an American executive and civic activist who served as CEO and Chairman of Delta Air Lines (1997-2004). ALPA was founded on 27 July 1931 and is a member of the AFL-CIO and the Canadian Labour Congress. [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. For example, if someone owes more than the total value of their assets, they have a negative net worth. Gerald Ronson earned the money being a professional Philanthropist. Mr. Grinstein has been with the company for one year . of 4,880 shares. 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. From the average net worth, as compared to the median net worth, for each age group, it's apparent that the median net worth may be a more standardizing financial metric to use to analyze net worth by age in the U.S. (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). 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. 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. Jerry is a founding partner of Harkness Capital and a Board Advisor to Kane is Able. Enjoy a 7-Day Free Trial Thru Mar 11, 2023! In addition, he makes $615,987 as CEO & Director at Delta Air Lines. By subscribing, you agree to receive occasional membership emails from Crosscut/Cascade Public Media. All Rights Reserved. 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. 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. Life is short. During Delta's bankruptcy, Grinstein and his management team accelerated the restructuring process that they had started in 2004. 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. "Some of our most successful entrepreneurs are really inventors at heart. 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. Other recent insider transactions involving The Brink's Co (BCO) include A year ago, we served together on a foundation finance committee. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. 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. Delta Air Lines Inc (DAL)'s detailed insider trading history can be found in Insider Trading Tracker table. He was succeeded by Richard Anderson, a former Northwest Airlines executive. Refer a Friend and Earn One Month of Free Membership. sale MFAN's Open Letter to the President on the U.S. Over the past 18 months, We know that Gerald's political affiliation is . A partir del 30 de octubre de 2008, Northwest Airlines hace parte de Delta Air Lines, formando as la aerolnea ms grande del mundo, volando a 375 destinos en 66 pases, transportado algo ms de 170 millones de pasajeros al ao, con cerca de 75 000 empleados a nivel mundial. Paccar Financial Services provides retail and wholesale financing for customers and dealers, respectively. 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). He was 48. In October 1979, after the passage of the Airline Deregulation Act, Allegheny Airlines changed its name to USAir. The Brink's Co (BCO) Gerald Grinstein made of 350,919 shares. Grinstein negotiated a second concessionary agreement from ALPA, imposed a second round of paycuts on nonunion employees, and froze the nonunion employee pension plan. and VICE PRESIDENT/GENERAL COUNSEL Michael K Walton She did say the couple plan to make some changes. 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. of 153,713 shares. NA: Not available or not applicable. . 1. Grinstein negotiated a second concessionary agreement from ALPA, imposed a second round of paycuts on nonunion employees, and froze the nonunion employee pension plan. When the company emerged from Chapter 11 in 2007 . 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.