gerald grinstein net worth gerald grinstein net worth

Wise counsel from a wise man: Do one thing well. The most efficient rank is 1 and least efficient is 189. 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. , "The timing seemed right," Lyn Grinstein said. [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. 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. Musk Made a Mess at Twitter. (Gerald Grinstein says)(Brief Article). BNSF No. He was CEO of Nextel International from 1996 to 1999. 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. Bar: District of Columbia, Washington. He ended his service to Delta by retiring from his position as CEO in 2003, and as chairman of the board in 2004. 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. At the time of the bankruptcy filing, Delta's total debt was approximately $23.8 billion. 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. It was humbling. He was 48. In October 1979, after the passage of the Airline Deregulation Act, Allegheny Airlines changed its name to USAir. ", "Delta Air Lines needs to cut costs, says CEO. , According to author Harry Nolan, Harris led the latter three airlines "out of the turbulence of financial instability toward profitability." 1:06. MFAN's Open Letter to the President on the U.S. Years later, Keith would rib his former boss, chief-of-staff Denny Miller. Delta, which had previously sold its fuel hedges in a move to raise cash, was forced into an untenable cash position. 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 Gupta has several connections to Atlanta, where he is the Chief Medical Correspondent for CNN, associate chief of neurosurgery at Grady Memorial Hospital, and assistant professor of neurosurgery at Emory University School of Medicine. 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 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. The bottom 50% own just 1% of the wealth in the U.S. and have a median net worth less than $122,000. (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). Mr. Grinstein has been with the company for one year . The bottom 50% includes 64.3 million families, with 13.4 million of these families having a negative net worth. This website uses cookies to improve your experience while you navigate through the website. He was CEO of Burlington Northern Railroad from 1985 to 1995, and joined Delta's board of directors in 1987. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Gerald Grinstein for Ed Bastian's 20 year pinning. See Jerry Grinstein's compensation, career history, education, & memberships. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. Grinstein appointed new executives to Delta who assisted in the company's survival despite the airline's precarious financial position. Hurricane Katrina resulted in a dramatic spike in jet fuel prices in Atlanta, which houses Delta's largest hub operation. Delta shed non-performing assets, slashed the mainline fleet from nine models to five, and shed thousands of jobs. 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. no insider transaction in PACCAR Inc (PCAR). a net Mr. Grinstein has been with the company for 2 years.The 73 year old executive ranks 15 within Transportation Education College: Yale BA '54 To calculate your net worth, take inventory of what you own, as well as your outstanding debt. "That was a 10 percent raise!". But will the Seattle Landmarks Board sign off? For Mr. Grinsteins 40th birthday, Second Avenue filmed a 10-minute video featuring short interviews with local business people. Ranks are given only to chief executives who have a six-year tenure and six-year compensation history. 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. and Gerald Grinstein of Burlington Northern Inc.; . Keith Grinstein, who died unexpectedly on Sunday, Sept. 28, at age 48, was a kinetic entrepreneur and altruist, as hilarious as he was intense. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. These cookies do not store any personal information. Longtime friend Nick Hanauer Keith Grinstein was such a ubiquitous Seattle business figure that it often seemed as if he knew everyone. 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 . Bressler continued as chairman of Burlington Northern and Burlington Resources, while Gerald Grinstein, who had been vice-chairman of both companies, became Burlington Northern ' s president and chief executive officer in 1989. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. Gurus may be added or dropped from the GuruFocus site at any time. Gerald Grinstein. Other key executives at PACCAR Inc include Refer a Friend and Earn One Month of Free Membership. EVP Daniel J Castillo Mr. Grinstein enjoyed traveling and flying several small airplanes that he owned. These cookies will be stored in your browser only with your consent. Se convirti en director ejecutivo de Delta en 2004, una poca de crisis financiera para la aerolnea. When calculating net worth, it may be a positive or negative number. read more (market . Gerald has made over 1 trades of the Delta Air Lines stock since 2007, according to the Form 4 filled with the SEC. At the time of the bankruptcy filing, Delta's total debt was approximately $23.8 billion. 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. 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. Re: BNSF "Gerald Grinstein" business car. 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. Daniel Allen 'Dan' Carp is the former chairman and chief executive officer of the Eastman Kodak Company. , 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. , 2023 Cascade Public Media. OFFICER John N Rich of 4,880 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. A co-founder of Madrona Investment Group, Jerry served on the board of portfolio company Expedia.com. We rely on donations from readers like you to sustain Crosscut's in-depth reporting on issues critical to the PNW. No matter what the situation was, he could always find the light side.. Gerald has made over 1 trades of the Delta Air Lines stock since 2007, according to the Form 4 filled with the SEC. A friend recalls a good guy of the dot-com generation of executives, a dynamo who knew the importance of living in the now. 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 Keith's public-service baptism, the ballast for later life. (Gerald Grinstein says)(Brief Article). 9Received options or restricted stock in lieu of portion of bonus. 24/7 Wall Street. Gerald Ronson is from British. And when we say own, we include assets that you may still be paying for, such as a car or a house . He is the ninth and current chief executive officer of Delta Air Lines, serving in this role since May 2, 2016. Based on ownership reports from SEC filings, as the reporting owner, Gerald Grinstein owns 3 companies in total, including In the 1990s, Keith became a member of Seattle's dot-com aristocracy, those youngins who shoveled their Gold Rush loot and remade local philanthropy. of 29,672 shares made by Joanne D Smith Calculating net worth is one way to gauge financial health. "Michael Jordan," Keith said. You must have JavaScript enabled to use this form. Gerald has made over 1 trades of the Delta Air Lines stock since 2007, according to the Form 4 filled with the SEC. a net 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. [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. 30, 2006 stock price. [1] In this position he helped form the corporate entity that resulted in BN's merger which formed the BNSF Railway. 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. 4Less than 0.01%. , Even before that, every president has been paid well. He became CEO of Delta in 2004, a time of financial crisis for the airline. Every Sunday morning, Crosscut's weekly email sums up the best stories of the week. 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. Gerald ("Jerry") Grinstein (born 1932) is an American businessman, the former Chief Executive Officer (CEO) of Delta Air Lines. 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. ", "Railroaders of the year: matchmakers Rob Krebs, Jerry Grinstein. It was a dance of identical twins with one time-traveling sibling three decades younger than the other. 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 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 . sale Gerald Grinstein made Wherever he landed in life or career, Keith was bound to a legacy of service. . Operating Investors and Operators. The estimated Net Worth of Edward H Bastian is at least $56.8 Million dollars as of 31 August 2022. 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. Footnotes: "Until we create an independently supported black institution, a financial safety net, for those . 6New chief executive; compensation may be for another executive office. 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. LEATHERBERRY) BNSF 1 Gerald Grinstein - (E.C . Since 2001, the annual presidential salary has been set at $400,000. On the first anniversary of Russia's invasion, dozens gathered at St. Johns Episcopal Church to honor the lives lost. "We might remodel, we might start over again. WOODS) BNSF 1 Gerald Grinstein - (E.C. He'd rock in his armchair and rapid-fire acronyms, liquidity trends, and other arcana. On Thursday June 27, 2019 United changed the name of its parent company from United Continental Holdings to United Airlines Holdings. The Brink's Co (BCO)'s detailed insider trading history can be found in Insider Trading Tracker table. Methodology: Friends and business associates said Monday they were struggling to cope with the news of his sudden death. Compensation rank is based on total compensation for latest fiscal year. Grinstein and his wife Carolyn live in Medina, Washington. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The Brink's Co is a Global provider of secure logistics and security solutions for cash and other valuables. 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. When the company emerged from Chapter 11 in 2007 . ", "DELTA IN TRANSITION\ MULLIN ERA COMES TO A SURPRISE CLOSE.(Business). The Grinsteins have had their eye on the mansion for quite a while. 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. 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 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. On October 1, 2010, UCH, formerly UAL Corporation, announced completion of the merger. 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. UAL Corporation is the former name of United Airlines Holdings, an airline holding company, incorporated in Delaware with headquarters in Chicago, Illinois. Senator Warren G. Magnuson. In 2020, the company acquired the U.K.-based G4S that reorganized its operating segments to be North America, Latin America, Europe, and Rest of World. Delta Air Lines is a major American airline. The Burlington Northern Railroad was a United States-based railroad company formed from a merger of four major U.S. railroads. Named for its creator, "Grinstein Green" was applied to the train's F-units along with a cream colored stripe down the middle. , 51.5 million families are in this group. After overseeing the firm's survival through bankruptcy and implementing a restructuring program, he retired as CEO in 2007. and Delta expects to cut net debt by more than half to $7.6 billion at the end of 2007 from . 3 U.S. domestic carrier, on Monday emerged from Chapter 11 bankruptcy protection His father, Gerald Grinstein, is a former CEO of . Mr. Grinstein grew up in a prominent Seattle family. , George Washington's salary of $25,000 was . From 1985 to 1995 Grinstein was CEO of Burlington Northern Railroad (BN). trader joe's chocolate ganache cake LIVE; madison 56ers apparel; gerald grinstein net worth. 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. 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. Gerald Grinstein, 56 years old, will take over as president and chief executive of Burlington Northern, effective Jan. 1. 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. I would quietly write down what few nuggets I could comprehend, usually "Dow Jones" and "buy low." After overseeing the firm's survival through bankruptcy and implementing a . a net V.P. EVP & Chief Financial Officer Kurt B Mcmaken ", "Congress Looks at Possible Delta-US Air Merger. "I don't think we'll be as interesting.". NM: Not meaningful. BNSF Railway is one of the largest freight railroads in North America. It generates maximum revenue from the North America segment, namely from its core business of cash-in-transit and ATM services. Necessary cookies are absolutely essential for the website to function properly. Del Quentin Wilber. ACE Aviation Holdings, the Canadian parent of Air Canada retained a roughly 6.1% investment stake in US Airways Group. Anderson inherited an angry board of directors and impatient . Bill Gates bought the place from Sikma in 1993 for $8 million. 7Less than $100,000. 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. She did say the couple plan to make some changes. [5] In negotiations with ALPA, the Delta pilots' union, he secured deep concessions in order to help the company stave off bankruptcy. He is very patriotic when it comes to his business and personal life. 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. His mother, Rosalie Alhadeff, is part of the family that created the Longacres horse-racing track in Renton. 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 . He became CEO of Delta in 2004, a time of financial crisis for the airline. 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. sale Jerry is a founding partner of Harkness Capital and a Board Advisor to Kane is Able. Gerald's mailing address filed with the SEC is DELTA AIR LINES, INC., P.O. The company contracted its airlines to fly in the aircraft livery of other airlines such as Delta Air Lines and United Airlines. Carp served as the chairman of the board of Delta Air Lines, replacing former chairman Gerald Grinstein. By subscribing, you agree to receive occasional membership emails from Crosscut/Cascade Public Media. sale He was succeeded by Richard Anderson, a former Northwest Airlines executive. and I began to wax Bohemian. Its trucks are sold through over 2,300 independent dealers globally. There was a dervish-style coherence to his method, but I was clueless. He is the former non-executive chairman of Agilent Technologies, and former chairman and CEO of Burlington Northern (BNI), where he oversaw. 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 It was originally founded in Pittsburgh as a mail delivery airline called All American Aviation, which soon became a commercial passenger airline. PACCAR Inc (PCAR)'s detailed insider trading history can be found in Insider Trading Tracker table. He became CEO of Delta in 2004, a time of financial crisis for the airline. Email. [1] In this position he helped form the corporate entity that resulted in BN's merger which formed the BNSF Railway. The Brink's Co (BCO) 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. . Though environmentalists would like to cite him as an example of big business concern for the environment, he says . 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. 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. Stock quotes provided by InterActive Data. [2] While at the helm of BN, Grinstein adopted a new paint scheme for the railroad's executive office car train. purchase He was 48. It was meaningful do-gooderism as an end in itself. All content in this area was uploaded by Mark Tatge on Feb 28, 2015 of 0 shares. Just another site gerald grinstein net worth Gerald Grinstein was born on 06/26/1932 and is 90 years old. Gerald ("Jerry") Grinstein (born 1932) is an American businessman, the former Chief Executive Officer (CEO) of Delta Air Lines. Jerry is a founding partner of Harkness Capital and a Board Advisor to Kane is Able. By using this website, you agree to our use of cookies. 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. , 2004-2023 GuruFocus.com, LLC. A co-founder of Madrona Investment Group, Jerry served on the board of portfolio company Expedia.com. Commitment to Global Development will be featured in a print ad this Thursday and you don't want to miss it. Previous to Gerald's current city of Seattle, WA, Gerald Grinstein lived in Atlanta GA and Medina WA. When he is not at work, you may find him sneaking off to fly fish or trying a new restaurant. Its chief executive, Gerald Grinstein, plans to leave the leadership post after a successor is found. of 8,500 shares made by Simon Davis of 1,500 shares made by Timothy Joseph Tynan 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. 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. 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. From 1985 to 1995 Grinstein was CEO of Burlington Northern Railroad (BN). sale It was the brainchild of William Boeing and emerged from his consolidation of numerous carriers and equipment manufacturers from 1928 to 1930. A Seattle native, Jerry is a graduate of Yale University and Harvard Law School. a net PACCAR Inc (PCAR) 5Prior-year data. Paccar Financial Services provides retail and wholesale financing for customers and dealers, respectively. Compensation percent change is based on combined salary and bonus. 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). Director Thanh Tan details the personal journey that inspired the first season of Crosscut Origins. Today Delta is worth only $6.7 billion and Grinstein - and his team - are gone. 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.