Every Sunday morning, Crosscut's weekly email sums up the best stories of the week. 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. no insider transaction in The Brink's Co (BCO). 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. AMR filed for Chapter11 bankruptcy protection in November 2011. 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. . 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. The estimated Net Worth of Gerald Grinstein is at least $38.1 Thousand dollars as of 3 May 2007. 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. [5] In negotiations with ALPA, the Delta pilots' union, he secured deep concessions in order to help the company stave off bankruptcy. You can see the complete history of Gerald Grinstein stock trades at the bottom of the page. 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 "Come on," Denny reminded him. Above is the net worth, insider trading, and ownership report for Gerald Grinstein. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. Longtime friend Nick Hanauer Keith Grinstein was such a ubiquitous Seattle business figure that it often seemed as if he knew everyone. "I don't think we'll be as interesting.". Seattle Times researcher David Turim contributed to this story. Click here to see the complete history of Gerald Grinsteins form 4 insider trades. 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) It was the brainchild of William Boeing and emerged from his consolidation of numerous carriers and equipment manufacturers from 1928 to 1930. Grinstein negotiated a second concessionary agreement from ALPA, imposed a second round of paycuts on nonunion employees, and froze the nonunion employee pension plan. , James Moon Whitehurst is an American business executive. Gerald Grinstein Net Worth (2022) | wallmine ""Our rhetoric was terrific, but the performance wasn't there." Gerald Grinstein was American air transportation executive. 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 . [8], ""Our rhetoric was terrific, but the performance wasn't there." 3Three-year total. of 57,951 shares made by Harrie Schippers The use of the net worth method is demonstrated in the figure below. 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. There isnt anyone in business in Seattle who doesnt know Keith. 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. "I may put a sign on the waterfront saying `Bill has moved' with an arrow pointing up the shore," she joked. Most recently Gerald bought 1,000 units of DAL stock worth $21,750 on 3 May 2007. In the meantime, the Grinsteins are renting a home nearby. Compensation rank is based on total compensation for latest fiscal year. In 1953, it was renamed Allegheny Airlines and operated under that name for a quarter-century. [3]. sale Please note GuruFocus will not track the insiders transaction performance if he/she does not have buying transactions. We know that Gerald's political affiliation is . no insider transaction in PACCAR Inc (PCAR). El proceso de integracin de NWA a Delta, tardar entre 12 y 24 meses, para finalmente operar bajo el mismo . Sanjay Gupta's net worth is $12 million. 4Less than 0.01%. and Author: burlingtonjohn. I was acting the obnoxious Hamlet. 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. Gerald Grinstein owns over 1,000 units of Delta Air Lines stock worth over $38,070 and over the last 19 years Gerald sold DAL stock worth over $0. He served as a Chief Counsel to the United States Senate Commerce Committee and a Counsel to the Merchant Marine and Transportation Subcommittee. 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. , David Brown By 2007, Delta's mainline operation employed approximately 47,000, down from a high of 78,000 in 2001. Gerald ("Jerry") Grinstein (born 1932) is an American businessman, the former Chief Executive Officer (CEO) of Delta Air Lines.He was CEO of Burlington Northern Railroad from 1985 to 1995, and joined Delta's board of directors in 1987. Vice President Paulo Henrique Bolgar So when Gerald Grinstein retired last year and headed back to Seattle, he struck a deal with Gates. [2] While at the helm of BN, Grinstein adopted a new paint scheme for the railroad's executive office car train. Sources: Latest available company proxy statements; FT Interactive Data via FactSet Research Systems; Hemscott, Inc.(www.hemscottdata.com). Life is short. Stock quotes provided by InterActive Data. 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. purchase Grinstein received a BA from Yale University in 1954 and a JD from Harvard Law School in 1957. It was meaningful do-gooderism as an end in itself. Controller Michael E Sweeney of 111,326 shares. Northwest also performed worse than expected, losing $5.07 a . He had an incredible sense of humor. He is the ninth and current chief executive officer of Delta Air Lines, serving in this role since May 2, 2016. A native of Wytheville, Virginia, Carp currently lives in Naples, Florida. He was succeeded by Richard Anderson, a former Northwest Airlines executive. [2] While at the helm of BN, Grinstein adopted a new paint scheme for the railroad's executive office car train. of 153,713 shares. At the time of the bankruptcy filing, Delta's total debt was approximately $23.8 billion. Commitment to Global Development will be featured in a print ad this Thursday and you don't want to miss it. "Of course, it has taken a little longer than anticipated (for them to move out), but they're trying their best.". He was the President at IBM and chair of the board at Red Hat, and previously Chief Executive Officer at Red Hat and Chief Operating Officer at Delta Air Lines. He was a Board Member of the Seattle Symphony and The Seattle Foundation. "That was a 10 percent raise!". of 24,590 shares made by William C Carroll Things didn't work out as Grinstein had hoped. We'll focus on the median and average net worth figures for different age groups: Age of head of family. WOODS) BNSF 1 Gerald Grinstein - (E.C. sale By. 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. , Follow him on Twitter @phardinjackson. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Gerald has made over 1 trades of the Delta Air Lines stock since 2007, according to the Form 4 filled with the SEC. Gerald Grinstein made GuruFocus.com is not operated by a broker or a dealer. of 3,017 shares made by Todd R Hubbard He became CEO of Delta in 2004, a time of financial crisis for the airline. 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. Carp served as the chairman of the board of Delta Air Lines, replacing former chairman Gerald Grinstein. of 22,000 shares made by David S Taylor For Mr. Grinsteins 40th birthday, Second Avenue filmed a 10-minute video featuring short interviews with local business people. Email. BNSF Railway is one of the largest freight railroads in North America. Along the way, he seemed to breathe life into a line from Theodore Roethke's The Waking: "I learn by going where I have to go." sale ", "DELTA IN TRANSITION\ MULLIN ERA COMES TO A SURPRISE CLOSE.(Business). 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. 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. PACCAR Inc (PCAR) He and his wife have lived there while overseeing work on their nearly finished $65 million estate a few blocks away. The first step is to calculate the net worth of the individual at the start and end of the period. A year ago, we served together on a foundation finance committee. Gerald Grinstein made Footnotes: Over the past 18 months, 4. What should I do with my life? 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. ", 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. Named for its creator, "Grinstein Green" was applied to the train's F-units along with a cream colored stripe down the middle. 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. He was CEO of Burlington Northern Railroad from 1985 to 1995, and joined Delta's board of directors in 1987. and NA: Not available or not applicable. What is Gerald Grinstein's Net Worth? (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). 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). CCAir, Inc. was a regional airline headquartered in Charlotte, North Carolina, United States. Gerald has made over 1 trades of the Delta Air Lines stock since 2007, according to the Form 4 filled with the SEC. 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. On October 1, 2010, UCH, formerly UAL Corporation, announced completion of the merger. It was also, again, a $16,000 position. 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. We also use third-party cookies that help us analyze and understand how you use this website. EVP & Chief Financial Officer Daniel C. Janki 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. of 1,500 shares made by Timothy Joseph Tynan ", "Delta Air Lines needs to cut costs, says CEO. ACE Aviation Holdings, the Canadian parent of Air Canada retained a roughly 6.1% investment stake in US Airways Group. A memorial service will be at 12:30 p.m. Monday (Oct. 6) at Temple De Hirsch Sinai, 1511 East Pike St., Seattle. The analogy sounded a little too simple. 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. I would quietly write down what few nuggets I could comprehend, usually "Dow Jones" and "buy low." Provides CEO, CFO, Director and Chief Executives trade reports, independent equity research, and stock screening. 9Received options or restricted stock in lieu of portion of bonus. ", "Delta Air Lines needs to cut costs, says CEO. . Gerald Grinstein was born on 06/26/1932 and is 90 years old. 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. Based on ownership reports from SEC filings, as the reporting owner, Gerald Grinstein owns 3 companies in total, including 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. , You must have JavaScript enabled to use this form. Gerald ("Jerry") Grinstein (born 1932) is an American businessman, the former Chief Executive Officer (CEO) of Delta Air Lines. Other recent insider transactions involving Delta Air Lines Inc (DAL) include Operating Investors and Operators. 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) . , EVP & Chief Financial Officer Kurt B Mcmaken 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. 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. (Gerald Grinstein says)(Brief Article). [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. The Air Line Pilots Association, International (ALPA) is the largest pilot union in the world, representing more than 59,000 pilots from 35 U.S. and Canadian airlines. 51.5 million families are in this group. 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. And he thrives.". After overseeing the firm's survival through bankruptcy and implementing a restructuring program, he retired as CEO in 2007. Fue director ejecutivo de Burlington Northern Railroad de 1985 a 1995 y se uni a la junta directiva de Delta en 1987. 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. ", "Railroaders of the year: matchmakers Rob Krebs, Jerry Grinstein.