a net I would quietly write down what few nuggets I could comprehend, usually "Dow Jones" and "buy low." "We aren't sure what we will do with it," she said. 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. During Delta's bankruptcy, Grinstein and his management team accelerated the restructuring process that they had started in 2004. She did say the couple plan to make some changes. 1. [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. [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. Paccar Financial Services provides retail and wholesale financing for customers and dealers, respectively. 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 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." GuruFocus.com is not operated by a broker or a dealer. 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. Grinstein was the CEO of Delta Air Lines from 2004 to 2007. 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) . The estimated Net Worth of Gerald Grinstein is at least Delta Air Lines stock worth over $38,620 and over the last 18 years Gerald sold DAL stock worth over $0 Mr. Grinstein has been with the company for one year . After overseeing the firm's survival through bankruptcy and implementing a . By 2007, Delta's mainline operation employed approximately 47,000, down from a high of 78,000 in 2001. 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. The most active insiders traders include Hathaway Incbuffett Warren , Benefit Guaranty Corp/132 1, and James M Kilts. See Jerry Grinstein's compensation, career history, education, & memberships. 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. 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. Delta Air Lines Inc (DAL)'s detailed insider trading history can be found in Insider Trading Tracker table. of 1,500 shares made by Timothy Joseph Tynan Delta Air Service was incorporated on December 3, 1928, and named after the Mississippi Delta region. 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. ", "Congress Looks at Possible Delta-US Air Merger. Then you get to live here.. , I continued pressing. , The Grinsteins have had their eye on the mansion for quite a while. . Three years into his tenure as CEO, he also was named Board Chairman of the International Air Transport Association (IATA), representing the worlds airlines. 3 U.S. domestic carrier, on Monday emerged from Chapter 11 bankruptcy protection 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. of 350,919 shares. US Airways Group Inc. was an airline holding company based in Tempe, Arizona. He reduced his own pay by 25%, to approximately $325,000 per year. On September 14, 2005, Delta and its subsidiaries filed a petition for bankruptcy protection under Chapter 11 of the U.S. Bankruptcy Code. (Gerald Grinstein says)(Brief Article). , His father, Gerald Grinstein, is a former CEO of Burlington Northern and Delta Air Lines. Refer a Friend and Earn One Month of Free Membership. 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. Jerry is a founding partner of Harkness Capital and a Board Advisor to Kane is Able. We know that Gerald's political affiliation is . 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. All Rights Reserved. Above is the net worth, insider trading, and ownership report for Gerald Grinstein. and After overseeing the firm's survival through bankruptcy and implementing a restructuring program, he retired as CEO in 2007. 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. Too many, however, have boosted vanity projects or expressed do-gooderism as an extension of themselves. and Gerald Grinstein of Burlington Northern Inc.; . Years later, Keith would rib his former boss, chief-of-staff Denny Miller. He became CEO of Delta in 2004, a time of financial crisis for the airline. of 0 shares. and The gurus listed in this website are not affiliated with GuruFocus.com, LLC. 8Received options or restricted stock in lieu of portion of salary. Harkness Capital Partners Team. Friends and business associates said Monday they were struggling to cope with the news of his sudden death. 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. Donations may be made in Mr. Grinsteins memory to the Humane Society of Seattle-King County, 16495 N.E. 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. Primary Income source Philanthropist (profession). Prior to taking on the CEO role of Delta, Grinstein also served as non-executive chairman of Agilent Technologies from 1999 through November 2002 . He was CEO of Burlington Northern Railroad from 1985 to 1995, and joined Delta's board of directors in 1987. 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's mailing address filed with the SEC is DELTA AIR LINES, INC., P.O. Grinstein negotiated a second concessionary agreement from ALPA, imposed a second round of paycuts on nonunion employees, and froze the nonunion employee pension plan. By 2007, Delta's mainline operation employed approximately 47,000, down from a high of 78,000 in 2001. Mr. Grinstein is a co-founder of Madrona Venture Group. "What can you say that you did with your life? 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. 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). 51.5 million families are in this group. It is computed as the product of the total number of outstanding shares and the price of each share. 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. It is important to find the opening and closing net worth using the same asset value . In addition to his work in medicine and broadcast journalism, he has . of 153,713 shares. It was originally founded in Pittsburgh as a mail delivery airline called All American Aviation, which soon became a commercial passenger airline. Today Delta is worth only $6.7 billion and Grinstein - and his team - are gone. He returned to Madrona in late 2007 after a leave of absence serving as CEO of Delta Air Lines for almost four years. "Come on," Denny reminded him. ", "Railroaders of the year: matchmakers Rob Krebs, Jerry Grinstein. He sought to maintain communication with the Delta Board Council and with representatives of frontline employees. gerald grinstein net worth. sale The 72 year old executive ranks 12 within Transportation Chief executive . For Mr. Grinsteins 40th birthday, Second Avenue filmed a 10-minute video featuring short interviews with local business people. [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. Gerald Grinstein Net Worth 2022 and insider trades. His mother, Rosalie Alhadeff, is part of the family that created the Longacres horse-racing track in Renton. purchase ACE Aviation Holdings, the Canadian parent of Air Canada retained a roughly 6.1% investment stake in US Airways Group. Gurus may be added or dropped from the GuruFocus site at any time. A native of Wytheville, Virginia, Carp currently lives in Naples, Florida. For example, if someone owes more than the total value of their assets, they have a negative net worth. Allen, el hombre que, en la cumbre de su poder, haba detentado los ttulos de presidente, director ejecutivo y gerente general, fue despedido a la edad de 55 aos, sobre todo por haber matado el alma de la empresa. of 57,951 shares made by Harrie Schippers The most recent stock trade was executed by Joanne D Smith on 28 February 2023, trading 4,846 units of DAL stock currently worth $186,232. Other recent insider transactions involving Delta Air Lines Inc (DAL) include A co-founder of Madrona Investment Group, Jerry served on the board of portfolio company Expedia.com. Jerry is a founding partner of Harkness Capital and a Board Advisor to Kane is Able. "Just imagine that you'll only live to be 40," Keith said.

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