Bar: District of Columbia, Washington. ", "Congress Looks at Possible Delta-US Air Merger. Then you get to live here.. We note that Apple's Net worth is $134.05 billion, and that of Amazon is $19.2 billion. BNSF No. LEATHERBERRY) BNSF 1 Gerald Grinstein - (E.C . 4Less than 0.01%. and 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 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. In addition to his work in medicine and broadcast journalism, he has . Delta, which had previously sold its fuel hedges in a move to raise cash, was forced into an untenable cash position. 7Less than $100,000. [2] While at the helm of BN, Grinstein adopted a new paint scheme for the railroad's executive office car train. Vice President Paulo Henrique Bolgar . A native of Wytheville, Virginia, Carp currently lives in Naples, Florida. During Delta's bankruptcy, Grinstein and his management team accelerated the restructuring process that they had started in 2004. Email. The most active insiders traders include Hathaway Incbuffett Warren , Benefit Guaranty Corp/132 1, and James M Kilts. He was CEO of Burlington Northern Railroad from 1985 to 1995, and joined Delta's board of directors in 1987. It was a dance of identical twins with one time-traveling sibling three decades younger than the other. He became CEO of Delta in 2004, a time of financial crisis for the airline. In the example, we've denoted them as current net worth (NWc) and past net worth (NWp). "I may put a sign on the waterfront saying `Bill has moved' with an arrow pointing up the shore," she joked. Previous to Gerald's current city of Seattle, WA, Gerald Grinstein lived in Atlanta GA and Medina WA. I think of Madrona not only as a source of capital but of business strength that takes an innovation and moves it into the marketplace.. See Jerry Grinstein's compensation, career history, education, & memberships. US Airways was a major U.S. airline that operated from 1937 until its merger with American Airlines in 2015. Gerald Grinstein. , Delta expects to cut net debt by more than half to $7.6 billion at the end of 2007 from . Wallmine is a radically better financial terminal. Harkness Capital Partners Team. "Of course, it has taken a little longer than anticipated (for them to move out), but they're trying their best.". Every Sunday morning, Crosscut's weekly email sums up the best stories of the week. 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. After overseeing the firm's survival through bankruptcy and implementing a restructuring program, he retired as CEO in 2007. 8Received options or restricted stock in lieu of portion of salary. He was focused, effective, and (and I mean this) understated. The use of the net worth method is demonstrated in the figure below. And he thrives.". Gerald ("Jerry") Grinstein (nacido en 1932) es un hombre de negocios estadounidense, ex director ejecutivo (CEO) de Delta Air Lines . 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. 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. , ""Our rhetoric was terrific, but the performance wasn't there." purchase You must have JavaScript enabled to use this form. He sought to maintain communication with the Delta Board Council and with representatives of frontline employees. He was a Board Member of the Seattle Symphony and The Seattle Foundation. You have to seize something now, something you love, and run with it.". Donations may be made in Mr. Grinsteins memory to the Humane Society of Seattle-King County, 16495 N.E. All Rights Reserved. 9Received options or restricted stock in lieu of portion of bonus. 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. Jerry is a founding partner of Harkness Capital and a Board Advisor to Kane is Able. It was announced on May 3, 2010 that UAL Corporation and Continental Airlines, Inc. would pursue a merger pending government approval. "Some of our most successful entrepreneurs are really . 51.5 million families are in this group. a net of 8,500 shares made by Simon Davis Controller Michael E Sweeney A co-founder of Madrona Investment Group, Jerry served on the board of portfolio company Expedia.com. 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. It was originally founded in Pittsburgh as a mail delivery airline called All American Aviation, which soon became a commercial passenger airline. The estimated Net Worth of Gerald Grinstein is at least $32.1 Thousand dollars as of 3 May 2007. CCAir, Inc. was a regional airline headquartered in Charlotte, North Carolina, United States. From 1985 to 1995 Grinstein was CEO of Burlington Northern Railroad (BN). a net Gerald has made over 1 trades of the Delta Air Lines stock since 2007, according to the Form 4 filled with the SEC. However, their market capitalization Market Capitalization Market capitalization is the market value of a company's outstanding shares. The Grinsteins have had their eye on the mansion for quite a while. Se convirti en director ejecutivo de Delta en 2004, una poca de crisis financiera para la aerolnea. Grinstein appointed new executives to Delta who assisted in the company's survival despite the airline's precarious financial position. It's a "what if" that only magnifies the grief, the break of a generational thread that can't be mended. Provides CEO, CFO, Director and Chief Executives trade reports, independent equity research, and stock screening. WOODS) BNSF 1 Gerald Grinstein - (E.C. By subscribing, you agree to receive occasional membership emails from Crosscut/Cascade Public Media. In 1997, it rebranded as US Airways. It is mandatory to procure user consent prior to running these cookies on your website. NA: Not available or not applicable. 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. The Brink's Co is a Global provider of secure logistics and security solutions for cash and other valuables. Known internationally as U.S.-ALPA, ALPA is also a member of the IFALPA. View Gerald Grinstein results including current phone number, address, relatives, background check report, and property record with Whitepages. He was CEO of Burlington Northern Railroad from 1985 to 1995, and joined Delta's board of directors in 1987. It generates maximum revenue from the North America segment, namely from its core business of cash-in-transit and ATM services. The Brink's Co (BCO)'s detailed insider trading history can be found in Insider Trading Tracker table. Lyn Grinstein politely declined to say how much the house will cost. We also use third-party cookies that help us analyze and understand how you use this website. [8]. 2023 Harkness Capital Partners | Admin Login, CEO: Delta Air Lines; Burlington Northern Inc.; Western Airlines, Chairman: Delta Air Lines; Burlington Northern Inc.; Western Airlines, Board Member: Aligent Technologies; Light Sciences Corporation; Browning-Ferris Industries; VANS, Inc.; Imperial Sugar Co,; PACCAR Inc.; Sunstrand Corporation; Foundation Bank; ThinkFire Services USA; Portland General Electric Co.; The Brinks Company; Pittston Minerals Group; Vascular Reconditioning Inc; Bax Global; Expedia.com, Private Equity Boards: Kane is Able; Jacobson Companies; Co-Founder, Madrona Investment Group: Advisor, Oak Hill Capital Partners. Gerald Grinstein was born on 06/26/1932 and is 90 years old. Delta shed non-performing assets, slashed the mainline fleet from nine models to five, and shed thousands of jobs. John Scott Kirby is an American executive currently serving as CEO of United Airlines. and No matter what the situation was, he could always find the light side.. 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. 24/7 Wall Street. (Gerald Grinstein says)(Brief Article). Friends and business associates said Monday they were struggling to cope with the news of his sudden death. . By 2007, Delta's mainline operation employed approximately 47,000, down from a high of 78,000 in 2001. Mr. Grinstein grew up in a prominent Seattle family. 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. Delta Air Lines Inc is airlines, with a network of over 300 destinations in more than 50 countries. He became CEO of Delta in 2004, a time of financial crisis for the airline. 30, 2006 stock price. Compensation rank is based on total compensation for latest fiscal year. 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 Above is the net worth, insider trading, and ownership report for Gerald Grinstein. During Delta's bankruptcy, Grinstein and his management team accelerated the restructuring process that they had started in 2004. Thanks to your hard work and dedicated efforts, we garnered an unprecedented amount of support for reforming U.S. development from businesses, NGOs, think tanks, prominent individuals, Continue reading 200 + Signatories on MFAN's . The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. Musk Made a Mess at Twitter. sale Terms of Use and Privacy Policy. , Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Gerald's mailing address filed with the SEC is DELTA AIR LINES, INC., P.O. 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. Gerald ("Jerry") Grinstein (born 1932) is an American businessman, the former Chief Executive Officer (CEO) of Delta Air Lines. (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). He was CEO of Nextel International from 1996 to 1999. of 57,951 shares made by Harrie Schippers Median net worth . Director Thanh Tan details the personal journey that inspired the first season of Crosscut Origins. 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. Gerald Grinstein is the director of The Brink's Co. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The 72 year old executive ranks 12 within Transportation Chief executive . It was also, again, a $16,000 position. That could happen sometime this summer or fall, she says. Grinstein received the Railroader of the Year award in 1996.[3]. The analogy sounded a little too simple. sale Most recently Gerald bought 1,000 units of DAL stock worth $21,750 on 3 May 2007. The bottom 50% includes 64.3 million families, with 13.4 million of these families having a negative net worth. 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 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 1Annualized. He and his wife have lived there while overseeing work on their nearly finished $65 million estate a few blocks away. Gerald Grinstein Net Worth (2022) | wallmine The Columbian black-tail deer has become a habitat threat, creating ideal conditions for invasive plants and forest fires. 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 is the director & Chief Executive Officer of Delta Air Lines Inc. 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. 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. Just another site gerald grinstein net worth and At the time of the bankruptcy filing, Delta's total debt was approximately $23.8 billion. Other recent insider transactions involving Delta Air Lines Inc (DAL) include 1. Gerald ("Jerry") Grinstein (born 1932) is an American businessman, the former Chief Executive Officer (CEO) of Delta Air Lines. As of 3 May 2007 Gerald still owns at least 1,000 units of Delta Air Lines stock. This paint scheme was later applied to the railroad's last order for locomotives before the merger, the EMD SD70MAC. At the time of the bankruptcy filing, Delta's total debt was approximately $23.8 billion. ", "Delta Air Lines needs to cut costs, says CEO. For Mr. Grinsteins 40th birthday, Second Avenue filmed a 10-minute video featuring short interviews with local business people. Northwest also performed worse than expected, losing $5.07 a . a net of 17,976 shares. Life is short. 1. 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. , US Airways Group operated US Airways, along with its subsidiaries PSA Airlines, Inc. and Piedmont Airlines, Inc., which are wholly owned but marketed under the branding of US Airways Express. (Burlington Northern CEO Gerald Grinstein) (The Competitors) (Cover Story) (Interview). 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 . 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. of 1,500 shares made by Timothy Joseph Tynan Click here to see the complete history of Gerald Grinsteins form 4 insider trades. A co-founder of Madrona Investment Group, Jerry served on the board of portfolio company Expedia.com. Even before that, every president has been paid well. V.P. BNSF trains traveled over 169million miles in 2010, more than any other North American railroad. 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. purchase I began to wax Bohemian. A year ago, we served together on a foundation finance committee. Keith was, make no mistake, a frenetic presence. [5] In negotiations with ALPA, the Delta pilots' union, he secured deep concessions in order to help the company stave off bankruptcy. 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. Mr. Grinstein is a graduate of Yale College and Harvard Law School. Other key executives at The Brink's Co include A co-founder of Madrona Investment Group, Jerry served on the board of portfolio company Expedia.com. He ended his service to Delta by retiring from his position as CEO in 2003, and as chairman of the board in 2004. And when we say own, we include assets that you may still be paying for, such as a car or a house . 3 U.S. domestic carrier, on Monday emerged from Chapter 11 bankruptcy protection 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. (Burlington Northern CEO Gerald Grinstein) (The Competitors) (Cover Story) (Interview). "Just imagine that you'll only live to be 40," Keith said. Rapper, chef and author Action Bronson takes us on a journey from his early days at culinary school, to releasing critically acclaimed albums, to writing books, starring in TV shows and building an iconic brand around his favorite interests. 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 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. 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. 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. Hurricane Katrina resulted in a dramatic spike in jet fuel prices in Atlanta, which houses Delta's largest hub operation. a net sale Delta Air Lines is a major American airline. [5] In negotiations with ALPA, the Delta pilots' union, he secured deep concessions in order to help the company stave off bankruptcy. 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 On October 1, 2010, UCH, formerly UAL Corporation, announced completion of the merger. . Its trucks are sold through over 2,300 independent dealers globally. Delta's sale of frequent flier miles, particularly to American Express, is a keydriver of the firm's profits. He had an incredible sense of humor. 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. 10Includes shares indirectly held. Wise counsel from a wise man: Do one thing well. 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. 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. a net 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. In October 1979, after the passage of the Airline Deregulation Act, Allegheny Airlines changed its name to USAir. We'll focus on the median and average net worth figures for different age groups: Age of head of family. . of 5,120 shares made by Rohan Pal Past performance is a poor indicator of future performance. Mr. Grinstein has been with the company for one year . Compensation percent change is based on combined salary and bonus. 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. Some of our most successful entrepreneurs are really inventors at heart. This investment adviser does not provide advice to individual investors. 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. Mr. Grinstein has been with the company for 2 years.The 73 year old executive ranks 15 within Transportation Education College: Yale BA '54 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 Air Service was incorporated on December 3, 1928, and named after the Mississippi Delta region. It was humbling. Keith Grinstein, 1960-2008: Exec had heart for community. I would quietly write down what few nuggets I could comprehend, usually "Dow Jones" and "buy low." 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 . Delta Air Lines Inc (DAL) The company's only surviving airline, Pinnacle, became Endeavor Air. 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. By using this website, you agree to our use of cookies. Hurricane Katrina resulted in a dramatic spike in jet fuel prices in Atlanta, which houses Delta's largest hub operation. sale [2] While at the helm of BN, Grinstein adopted a new paint scheme for the railroad's executive office car train. There was a dervish-style coherence to his method, but I was clueless. Gerald Grinstein. [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. blockbuster store still open near haarlem. OFFICER John N Rich One of eight North American Class I railroads, BNSF has 35,000 employees, 32,500 miles (52,300km) of track in 28 states, and nearly 8,000 locomotives. He reduced his own pay by 25%, to approximately $325,000 per year. Del Quentin Wilber. a net He is the former non-executive chairman of Agilent Technologies, and former chairman and CEO of Burlington Northern (BNI), where he oversaw. ", "Railroaders of the year: matchmakers Rob Krebs, Jerry Grinstein. 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. Net worth totals vary by education, age, income and other factors. . So when Gerald Grinstein retired last year and headed back to Seattle, he struck a deal with Gates. 2Four-year total. 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 Re: BNSF "Gerald Grinstein" business car. purchase The estimated Net Worth of Edward H Bastian is at least $56.8 Million dollars as of 31 August 2022. On the same date, Thomas H. O'Leary, 54, will become president and chief . S&P 500 Aggregate Buffett-Munger Screener Industry Overview Undervalued Predictable Benjamin Graham Net-Net 52-week/3Y/5Y Lows 52-week/3Y/5Y Highs Magic Formula (Greenblatt) . Longtime friend Nick Hanauer Keith Grinstein was such a ubiquitous Seattle business figure that it often seemed as if he knew everyone. He became CEO of Delta in 2004, a time of financial crisis for the airline. George Washington's salary of $25,000 was . This category only includes cookies that ensures basic functionalities and security features of the website. Picture a young-end Baby Boomer as a throwback to Seattle's civic lions, circa 1962. Grinstein also set about regaining the trust and confidence of Delta's employees. of 350,919 shares. Commitment to Global Development will be featured in a print ad this Thursday and you don't want to miss it. Mr. Grinstein is a co-founder of Madrona Venture Group. EVP & Chief Financial Officer Daniel C. Janki Gerald Grinstein, 56 years old, will take over as president and chief executive of Burlington Northern, effective Jan. 1. Sanjay Gupta's net worth is $12 million. All Rights Reserved.