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Brink's customer base includes financial institutions, retails, government agencies, mints, and other commercial businesses. It was humbling. a net , Gerald ("Jerry") Grinstein (born 1932) is an American businessman, the former Chief Executive Officer (CEO) of Delta Air Lines. 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. Commitment to Global Development will be featured in a print ad this Thursday and you don't want to miss it. Wherever he landed in life or career, Keith was bound to a legacy of service. Years later, Keith would rib his former boss, chief-of-staff Denny Miller. Operating Investors and Operators. 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. 4Less than 0.01%. He ended his service to Delta by retiring from his position as CEO in 2003, and as chairman of the board in 2004. 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. ", "DELTA IN TRANSITION\ MULLIN ERA COMES TO A SURPRISE CLOSE.(Business). View Gerald Grinstein results including current phone number, address, relatives, background check report, and property record with Whitepages. 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. 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. "We might remodel, we might start over again. Delta, which had previously sold its fuel hedges in a move to raise cash, was forced into an untenable cash position. Since 2001, the annual presidential salary has been set at $400,000. 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. 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. Stock quotes provided by InterActive Data. A co-founder of Madrona Investment Group, Jerry served on the board of portfolio company Expedia.com. Friends and business associates said Monday they were struggling to cope with the news of his sudden death. One proposal involves replacing the waterscape dinosaur sculptures and all with a meadow of native plants. At the time of the bankruptcy filing, Delta's total debt was approximately $23.8 billion. See Jerry Grinstein's compensation, career history, education, & memberships. Grinstein received a BA from Yale University in 1954 and a JD from Harvard Law School in 1957. Gerald Grinstein was born on 06/26/1932 and is 90 years old. "Come on," Denny reminded him. Other recent insider transactions involving The Brink's Co (BCO) include In the meantime, the Grinsteins are renting a home nearby. 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. Gerald Grinstein. Methodology: Follow him on Twitter @phardinjackson. Life is short. John Scott Kirby is an American executive currently serving as CEO of United Airlines. MFAN's Open Letter to the President on the U.S. Als Gerald Grinstein vor knapp zwei Jahren den Posten als Vorstandschef bei der amerikanischen Fluggesellschaft Delta Air Lines. In October 1979, after the passage of the Airline Deregulation Act, Allegheny Airlines changed its name to USAir. Gerald Grinstein for Ed Bastian's 20 year pinning. 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. Grinstein and his wife Carolyn live in Medina, Washington. 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. All Rights Reserved. of 57,951 shares made by Harrie Schippers Delta Air Service was incorporated on December 3, 1928, and named after the Mississippi Delta region. Wallmine is a radically better financial terminal. 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. He reduced his own pay by 25%, to approximately $325,000 per year. It's a community that's done enormous good, recasting funding priorities and embracing transparency. (Burlington Northern CEO Gerald Grinstein) (The Competitors) (Cover Story) (Interview). 3 U.S. domestic carrier, on Monday emerged from Chapter 11 bankruptcy protection sale 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. 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. PACCAR Inc (PCAR)'s detailed insider trading history can be found in Insider Trading Tracker table. Known internationally as U.S.-ALPA, ALPA is also a member of the IFALPA. The estimated Net Worth of Edward H Bastian is at least $56.8 Million dollars as of 31 August 2022. Analysts predicted a loss of $4.76 a share excluding special items. Previous to Gerald's current city of Seattle, WA, Gerald Grinstein lived in Atlanta GA and Medina WA. 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 average, Gerald trades about 200 units every 0 days since 2004. Hmmm. He and his wife have lived there while overseeing work on their nearly finished $65 million estate a few blocks away. Donations may be made in Mr. Grinsteins memory to the Humane Society of Seattle-King County, 16495 N.E. of 17,976 shares. Median net worth . 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 . Its chief executive, Gerald Grinstein, plans to leave the leadership post after a successor is found. After overseeing the firm's survival through bankruptcy and implementing a restructuring program, he retired as CEO in 2007. Se convirti en director ejecutivo de Delta en 2004, una poca de crisis financiera para la aerolnea. 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. 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) "What can you say that you did with your life? US Airways was a major U.S. airline that operated from 1937 until its merger with American Airlines in 2015. Email. They lived just across the street for years before moving to Fort Worth, Texas, home of Burlington Northern's headquarters. Jerry is a founding partner of Harkness Capital and a Board Advisor to Kane is Able. And he thrives.". He'd rock in his armchair and rapid-fire acronyms, liquidity trends, and other arcana. , Wise counsel from a wise man: Do one thing well. On October 1, 2010, UCH, formerly UAL Corporation, announced completion of the merger. 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. (Gerald Grinstein says)(Brief Article). The estimated Net Worth of Gerald Grinstein is at least $38.1 Thousand dollars as of 3 May 2007. . You might contact Gerald Grinstein via mailing address: 395 Page Mill Rd, Palo Alto Ca 94306. 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. He is the ninth and current chief executive officer of Delta Air Lines, serving in this role since May 2, 2016. He was focused, effective, and (and I mean this) understated. Grinstein and his wife Carolyn live in Medina, Washington. Fundamental company data provided by Morningstar, updated daily. sale HOME PAGE FOR THE WORLD'S BUSINESS LEADERS. [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. It was originally founded in Pittsburgh as a mail delivery airline called All American Aviation, which soon became a commercial passenger airline. 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. Sanjay Gupta's net worth is $12 million. Gerald ("Jerry") Grinstein (born 1932) is an American businessman, the former Chief Executive Officer (CEO) of Delta Air Lines. , 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 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. Compensation rank is based on total compensation for latest fiscal year. 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. He was just everywhere.. Delta Air Lines is a major American airline. 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. Keith Grinstein, who died unexpectedly on Sunday, Sept. 28, at age 48, was a kinetic entrepreneur and altruist, as hilarious as he was intense. Gerald (Jerry) Grinstein 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. Picture a young-end Baby Boomer as a throwback to . 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 . The use of the net worth method is demonstrated in the figure below. 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. . She did say the couple plan to make some changes. . Seattle Times researcher David Turim contributed to this story. David Brown Efficiency rank is based on our chief executive's performance/pay score. a net This paint scheme was later applied to the railroad's last order for locomotives before the merger, the EMD SD70MAC. Let us take the example of Apple and Amazon. Keith Grinstein was such a ubiquitous Seattle business figure that it often seemed as if he knew everyone. and We use cookies to provide you with a great experience and to help our website run effectively. Most recently Gerald bought 1,000 units of DAL stock worth $21,750 on 3 May 2007. & CHIEF TECH. By subscribing, you agree to receive occasional membership emails from Crosscut/Cascade Public Media. sale His mother, Rosalie Alhadeff, is part of the family that created the Longacres horse-racing track in Renton. 24/7 Wall Street. A co-founder of Madrona Investment Group, Jerry served on the board of portfolio company Expedia.com. Mr. Grinstein has been with the company for 2 years.The 73 year old executive ranks 15 within Transportation Education College: Yale BA '54 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." Gerald Grinstein is the director of The Brink's Co. A native of Wytheville, Virginia, Carp currently lives in Naples, Florida. 51.5 million families are in this group. Gerald Grinstein was American air transportation executive. Most recently Gerald bought 1,000 units of DAL stock worth $21,750 on 3 May 2007. He is the former non-executive chairman of Agilent Technologies, and former chairman and CEO of Burlington Northern (BNI), where he oversaw. . Gurus may be added or dropped from the GuruFocus site at any time. and From 1985 to 1995 Grinstein was CEO of Burlington Northern Railroad (BN). He became CEO of Delta in 2004, a time of financial crisis for the airline. He is very patriotic when it comes to his business and personal life. He became CEO of Delta in 2004, a time of financial crisis for the airline. Grinstein also set about regaining the trust and confidence of Delta's employees. Sources: Latest available company proxy statements; FT Interactive Data via FactSet Research Systems; Hemscott, Inc.(www.hemscottdata.com). of 0 shares. Start a company in the Pacific Northwest. 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. and Jerry is also a board member of the William D. Ruckelshaus Center. The bottom 50% includes 64.3 million families, with 13.4 million of these families having a negative net worth. 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) . Gerald ("Jerry") Grinstein (born 1932) is an American businessman, the former Chief Executive Officer (CEO) of Delta Air Lines. 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 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. Over the past 18 months, 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. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". "The timing seemed right," Lyn Grinstein said. After overseeing the firm's survival through bankruptcy and implementing a . Ranks are given only to chief executives who have a six-year tenure and six-year compensation history. ". In addition, he makes $615,987 as CEO & Director at Delta Air Lines. UAL Corporation is the former name of United Airlines Holdings, an airline holding company, incorporated in Delaware with headquarters in Chicago, Illinois. 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. Gerald has made over 1 trades of the Delta Air Lines stock since 2007, according to the Form 4 filled with the SEC. 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. I continued pressing. 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. , 4. Refer a Friend and Earn One Month of Free Membership. The Burlington Northern Railroad was a United States-based railroad company formed from a merger of four major U.S. railroads. And when we say own, we include assets that you may still be paying for, such as a car or a house . of 111,326 shares. [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. Compensation percent change is based on combined salary and bonus. It was a dance of identical twins with one time-traveling sibling three decades younger than the other. 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. "I don't think we'll be as interesting.". 4. Grinstein appointed new executives to Delta who assisted in the company's survival despite the airline's precarious financial position. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. The first step is to calculate the net worth of the individual at the start and end of the period. [1] In this position he helped form the corporate entity that resulted in BN's merger which formed the BNSF Railway. Delta shed non-performing assets, slashed the mainline fleet from nine models to five, and shed thousands of jobs. According to author Harry Nolan, Harris led the latter three airlines "out of the turbulence of financial instability toward profitability." Bill Gates bought the place from Sikma in 1993 for $8 million. "Some of our most successful entrepreneurs are really inventors at heart. We know that Gerald's political affiliation is . Vice President Paulo Henrique Bolgar purchase It is computed as the product of the total number of outstanding shares and the price of each share. This investment adviser does not provide advice to individual investors. He was CEO of Burlington Northern Railroad from 1985 to 1995, and joined Delta's board of directors in 1987. His new salary was set at $17,600. Footnotes: EVP & Chief Financial Officer Kurt B Mcmaken Gerald has made over 1 trades of the Delta Air Lines stock since 2007, according to the Form 4 filled with the SEC. Fue director ejecutivo de Burlington Northern Railroad de 1985 a 1995 y se uni a la junta directiva de Delta en 1987. The 72 year old executive ranks 12 within Transportation Chief executive . Compensation rank is based on total compensation for latest fiscal year. 1. It was an improvement over the first quarter of 2003, when Delta reported $466 million in losses as the Iraq war kicked off and the SARS outbreak in Asia caused international travel to plummet . 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. ACE Aviation Holdings, the Canadian parent of Air Canada retained a roughly 6.1% investment stake in US Airways Group. 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 "I may put a sign on the waterfront saying `Bill has moved' with an arrow pointing up the shore," she joked. Keith made some jokes at his own expense and finally leaned forward and said something quasi-Scandanavian, a sentiment that spoke to my Ingmar Bergman-esque soul. The Brink's Co is a Global provider of secure logistics and security solutions for cash and other valuables. of 1,500 shares made by Timothy Joseph Tynan 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. 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. , From 80 years of age and forward, the average net worth is $973,141 and the median is $235,193. Mr. Grinstein is a graduate of Yale College and Harvard Law School. "That was a 10 percent raise!". Director Thanh Tan details the personal journey that inspired the first season of Crosscut Origins. A decade later it had acquired Piedmont Airlines and Pacific Southwest Airlines (PSA), and was one of the U.S.'s seven transcontinental legacy carriers. 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 . Mr. Grinstein grew up in a prominent Seattle family. Mr. Grinstein died unexpectedly Sunday (Sept. 28) of an undisclosed cause. We also use third-party cookies that help us analyze and understand how you use this website. a net . No matter what the situation was, he could always find the light side.. Lyn Grinstein politely declined to say how much the house will cost. Keith Grinstein, 1960-2008: Exec had heart for community. Re: BNSF "Gerald Grinstein" business car. The middle 40% of U.S. families own 22% of the wealth. BNSF Railway is one of the largest freight railroads in North America. Peter Jackson is the former editorial-page editor of the Everett Herald. Gerald has made over 1 trades of the Delta Air Lines stock since 2007, according to the Form 4 filled with the SEC. 1 carries the name "Gerald Grinstein." Grinstein was Chairman and CEO of the Railroad from 1985 to 1995, a period of extensive growth. "Until we create an independently supported black institution, a financial safety net, for those . CCAir, Inc. was a regional airline headquartered in Charlotte, North Carolina, United States. Mr. Grinstein died unexpectedly Sunday (Sept. 28) of an undisclosed cause. EVP - Chief of Operations John E Laughter Delta, which had previously sold its fuel hedges in a move to raise cash, was forced into an untenable cash position. We'll focus on the median and average net worth figures for different age groups: Age of head of family. Grinstein received the Railroader of the Year award in 1996. [2] While at the helm of BN, Grinstein adopted a new paint scheme for the railroad's executive office car train. Gerald ("Jerry") Grinstein (nacido en 1932) es un hombre de negocios estadounidense, ex director ejecutivo (CEO) de Delta Air Lines . 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. 1. He sought to maintain communication with the Delta Board Council and with representatives of frontline employees. 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. Grinstein appointed new executives to Delta who assisted in the company's survival despite the airline's precarious financial position. Too many, however, have boosted vanity projects or expressed do-gooderism as an extension of themselves. of 3,017 shares made by Todd R Hubbard When he is not at work, you may find him sneaking off to fly fish or trying a new restaurant. A friend recalls a good guy of the dot-com generation of executives, a dynamo who knew the importance of living in the now. NM: Not meaningful. Keith moved on to Georgetown Law School and an inspired career in telecommunications and venture capital, the kind of work where a 10 percent raise carries a bit more oomph.

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