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. Just another site gerald grinstein net worth There isnt anyone in business in Seattle who doesnt know Keith. 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. (Gerald Grinstein says)(Brief Article). Grinstein negotiated a second concessionary agreement from ALPA, imposed a second round of paycuts on nonunion employees, and froze the nonunion employee pension plan. 74th St., Redmond, WA 98052, or another charity. 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 . Just another site gerald grinstein net worth Paccar Financial Services provides retail and wholesale financing for customers and dealers, respectively. 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. BNSF No. It may be a sin to use the subjunctive tense, especially about a life interrupted, but Keith's biography would have tracked with the Northwest's Jim Ellis and Eddie Carlson, innovators who knit together business savvy, public vision, and community values. It has three transcontinental routes that provide rail connections between the western and eastern United States. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. By subscribing, you agree to receive occasional membership emails from Crosscut/Cascade Public Media. Grinstein received the Railroader of the Year award in 1996.[3]. 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. Jerry Grinstein is Founding Partner at Harkness Capital Partners LLC. 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 . Mr. Grinstein grew up in a prominent Seattle family. . Delta expects to cut net debt by more than half to $7.6 billion at the end of 2007 from . OFFICER John N Rich 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. Net worth is the total of one's assets minus total liabilities. 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. ""Our rhetoric was terrific, but the performance wasn't there." [8], ""Our rhetoric was terrific, but the performance wasn't there." BNSF trains traveled over 169million miles in 2010, more than any other North American railroad. 51.5 million families are in this group. "Some of our most successful entrepreneurs are really inventors at heart. He returned to Madrona in late 2007 after a leave of absence serving as CEO of Delta Air Lines for almost four years. Gerald Grinstein is the director of The Brink's Co. 24/7 Wall Street. After overseeing the firm's survival through bankruptcy and implementing a . of 8,500 shares made by Simon Davis Will His AI Plans Be Any Different? Based on ownership reports from SEC filings, as the reporting owner, Gerald Grinstein owns 3 companies in total, including GuruFocus.com is not operated by a broker or a dealer. It was a dance of identical twins with one time-traveling sibling three decades younger than the other. 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. Gerald Grinstein Strategic Director. 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. , Woolman, general manager and later Delta's first CEO, led a group of investors to acquire the company's assets. All Rights Reserved. He is the ninth and current chief executive officer of Delta Air Lines, serving in this role since May 2, 2016. The Columbian black-tail deer has become a habitat threat, creating ideal conditions for invasive plants and forest fires. Prior to joining BNI, he held positions including chairman and CEO of Western Airlines, partner in the law firm Preston, Torgrimson, Ellis & Hollman, chief counsel to the United States Senate Commerce Committee, counsel to the Merchant Marine & Transportation Subcommittee, and administrative assistant to U.S. 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. 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. Delta, which had previously sold its fuel hedges in a move to raise cash, was forced into an untenable cash position. Donations may be made in Mr. Grinsteins memory to the Humane Society of Seattle-King County, 16495 N.E. 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. "Some of our most successful entrepreneurs are really . During Delta's bankruptcy, Grinstein and his management team accelerated the restructuring process that they had started in 2004. He was CEO of Burlington Northern Railroad from 1985 to 1995, and joined Delta's board of directors in 1987. You have to seize something now, something you love, and run with it.". (Burlington Northern CEO Gerald Grinstein) (The Competitors) (Cover Story) (Interview). , Mr. Grinstein enjoyed traveling and flying several small airplanes that he owned. Follow him on Twitter @phardinjackson. 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. (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). When he is not at work, you may find him sneaking off to fly fish or trying a new restaurant. In the meantime, the Grinsteins are renting a home nearby. You can see the complete history of Gerald Grinstein stock trades at the bottom of the page. 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. We use cookies to provide you with a great experience and to help our website run effectively. 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. purchase 8Received options or restricted stock in lieu of portion of salary. Friends and business associates said Monday they were struggling to cope with the news of his sudden death. In 1997, it rebranded as US Airways. Compensation percent change is based on combined salary and bonus. William Douglas Parker is an American businessman who is the current Chairman and CEO of American Airlines Group, Inc., the parent company of American Airlines. 4. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. 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. He was beloved by many, many people.. [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. Above is the net worth, insider trading, and ownership report for Gerald Grinstein. 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. 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. sale 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 needs to cut costs, says CEO. 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. of 32,650 shares made by R Preston Feight It was meaningful do-gooderism as an end in itself. The estimated Net Worth of Gerald Grinstein is at least $39 Tysic dollars as of 3 May 2007. of 29,672 shares made by Joanne D Smith Bar: District of Columbia, Washington. Grinstein received the Railroader of the Year award in 1996. After overseeing the firm's survival through bankruptcy and implementing a restructuring program, he retired as CEO in 2007. On September 14, 2005, Delta and its subsidiaries filed a petition for bankruptcy protection under Chapter 11 of the U.S. Bankruptcy Code. 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. Years later, Keith would rib his former boss, chief-of-staff Denny Miller. [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. UAL Corporation is the former name of United Airlines Holdings, an airline holding company, incorporated in Delaware with headquarters in Chicago, Illinois. As of 3 May 2007 Gerald still owns at least 1,000 units of Delta Air Lines stock. & CHIEF TECH. ", "Congress Looks at Possible Delta-US Air Merger. 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. 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. Every Sunday morning, Crosscut's weekly email sums up the best stories of the week. 7Less than $100,000. Peter Jackson is the former editorial-page editor of the Everett Herald. ", William Ruckelshaus, Gerald Grinstein celebrate 80th birthdays with salmon-fishing trip | The Seattle Times, https://en.wikipedia.org/w/index.php?title=Gerald_Grinstein&oldid=1078844912, This page was last edited on 23 March 2022, at 16:58. Als Gerald Grinstein vor knapp zwei Jahren den Posten als Vorstandschef bei der amerikanischen Fluggesellschaft Delta Air Lines. 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.. According to author Harry Nolan, Harris led the latter three airlines "out of the turbulence of financial instability toward profitability." , . He became CEO of Delta in 2004, a time of financial crisis for the airline. This website uses cookies to improve your experience while you navigate through the website. 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 . You must have JavaScript enabled to use this form. Del Quentin Wilber. What is Gerald Grinstein's Net Worth? Jerry is a founding partner of Harkness Capital and a Board Advisor to Kane is Able. Other names that Gerald uses includes Gerald B Greinstein, Gerald Grienstein, Jerry Grinstein, Gerald B Grinstein and Geral Grinstein. , Gerald Grinstein made ". Stock quotes provided by InterActive Data. 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. The Bottom Line. Other recent insider transactions involving PACCAR Inc (PCAR) include of 17,976 shares. a net From 1985 to 1995 Grinstein was CEO of Burlington Northern Railroad (BN). 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. Gerald ("Jerry") Grinstein (born 1932) is an American businessman, the former Chief Executive Officer (CEO) of Delta Air Lines. Gerald ("Jerry") Grinstein (born 1932) is an American businessman, the former Chief Executive Officer (CEO) of Delta Air Lines. He was just everywhere.. "I may put a sign on the waterfront saying `Bill has moved' with an arrow pointing up the shore," she joked. 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 of 5,120 shares made by Rohan Pal "Until we create an independently supported black institution, a financial safety net, for those . So when Gerald Grinstein retired last year and headed back to Seattle, he struck a deal with Gates. The company's only surviving airline, Pinnacle, became Endeavor Air. A friend recalls a good guy of the dot-com generation of executives, a dynamo who knew the importance of living in the now. and 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. sale They lived just across the street for years before moving to Fort Worth, Texas, home of Burlington Northern's headquarters. A co-founder of Madrona Investment Group, Jerry served on the board of portfolio company Expedia.com. [1] In this position he helped form the corporate entity that resulted in BN's merger which formed the BNSF Railway. The middle 40% of U.S. families own 22% of the wealth. Since 2001, the annual presidential salary has been set at $400,000. 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 For example, if someone owes more than the total value of their assets, they have a negative net worth. Keith had the good judgment to concentrate on a few community totems and behind-the-scences volunteering that employed his skills as an investment guru. [8]. ", "DELTA IN TRANSITION\ MULLIN ERA COMES TO A SURPRISE CLOSE.(Business). Gerald Grinstein is a Co-Founder and serves as Strategic Director at Madrona Venture Group. UAL held a 100 percent controlling interest in United Airlines, Inc., one of the world's largest air carriers, and is a founding member of the Star Alliance. Gerald Grinstein made Total returns and value of stock owned (including all classes) is based on Mar. That could happen sometime this summer or fall, she says. 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. sale 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 MFAN's Open Letter to the President on the U.S. Fundamental company data provided by Morningstar, updated daily. , Refer a Friend and Earn One Month of Free Membership. Hurricane Katrina resulted in a dramatic spike in jet fuel prices in Atlanta, which houses Delta's largest hub operation. One proposal involves replacing the waterscape dinosaur sculptures and all with a meadow of native plants. The company contracted its airlines to fly in the aircraft livery of other airlines such as Delta Air Lines and United Airlines. Delta Air Lines Inc (DAL) sale [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. I began to wax Bohemian. Mr. Grinstein is a co-founder of Madrona Venture Group. Among his survivors are his wife, Claire, his parents and his brother, Charles. 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. On September 14, 2005, Delta and its subsidiaries filed a petition for bankruptcy protection under Chapter 11 of the U.S. Bankruptcy Code. 1:06. The car was built in 1952 for then CB&Q President Harry Murphy. Se convirti en director ejecutivo de Delta en 2004, una poca de crisis financiera para la aerolnea. Commitment to Global Development will be featured in a print ad this Thursday and you don't want to miss it. The 72 year old executive ranks 12 within Transportation Chief executive . sale This paint scheme was later applied to the railroad's last order for locomotives before the merger, the EMD SD70MAC. Will Others Follow? a net El proceso de integracin de NWA a Delta, tardar entre 12 y 24 meses, para finalmente operar bajo el mismo . The first step is to calculate the net worth of the individual at the start and end of the period. His father, Gerald Grinstein, is a former CEO of Burlington Northern and Delta Air Lines. He was CEO of Burlington Northern Railroad from 1985 to 1995, and joined Delta's board of directors in 1987. Some of our most successful entrepreneurs are really inventors at heart. See Jerry Grinstein's compensation, career history, education, & memberships. 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. The bottom 50% includes 64.3 million families, with 13.4 million of these families having a negative net worth. Gerald Grinstein Net Worth (2022) | wallmine 30, 2006 stock price. He was a Board Member of the Seattle Symphony and The Seattle Foundation. 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) , The gurus listed in this website are not affiliated with GuruFocus.com, LLC. 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 example, we've denoted them as current net worth (NWc) and past net worth (NWp). He was focused, effective, and (and I mean this) understated. Gurus may be added or dropped from the GuruFocus site at any time. WOODS) BNSF 1 Gerald Grinstein - (E.C. We also use third-party cookies that help us analyze and understand how you use this website. 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. There was a dervish-style coherence to his method, but I was clueless. Leo F. Mullin is an American executive and civic activist who served as CEO and Chairman of Delta Air Lines (1997-2004). AMR filed for Chapter11 bankruptcy protection in November 2011. 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. A native of Wytheville, Virginia, Carp currently lives in Naples, Florida. He was CEO of Nextel International from 1996 to 1999. We rely on donations from readers like you to sustain Crosscut's in-depth reporting on issues critical to the PNW. It's a community that's done enormous good, recasting funding priorities and embracing transparency. Carp served as the chairman of the board of Delta Air Lines, replacing former chairman Gerald Grinstein. 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. Gerald Grinstein. Basketball. NM: Not meaningful. It's a "what if" that only magnifies the grief, the break of a generational thread that can't be mended. Grinstein also set about regaining the trust and confidence of Delta's employees. Mr. Grinstein has been with the company for one year . The most efficient rank is 1 and least efficient is 189. 2004-2023 GuruFocus.com, LLC. , Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. His mother, Rosalie Alhadeff, is part of the family that created the Longacres horse-racing track in Renton. 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.