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. Keith Grinstein, who died unexpectedly on Sunday, Sept. 28, at age 48, was a kinetic entrepreneur and altruist, as hilarious as he was intense. When he is not at work, you may find him sneaking off to fly fish or trying a new restaurant. There isnt anyone in business in Seattle who doesnt know Keith. UAL Corporation would acquire Continental Airlines, Inc. and change its name to United Continental Holdings (UCH). Primary Income source Philanthropist (profession). of 57,951 shares made by Harrie Schippers 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. Seattle Times researcher David Turim contributed to this story. It was the brainchild of William Boeing and emerged from his consolidation of numerous carriers and equipment manufacturers from 1928 to 1930. Just another site gerald grinstein net worth Refer a Friend and Earn One Month of Free Membership. PACCAR Inc (PCAR)'s detailed insider trading history can be found in Insider Trading Tracker table. 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. The Columbian black-tail deer has become a habitat threat, creating ideal conditions for invasive plants and forest fires. ", "Delta Air Lines needs to cut costs, says CEO. It was Keith's public-service baptism, the ballast for later life. Operating Investors and Operators. By. A co-founder of Madrona Investment Group, Jerry served on the board of portfolio company Expedia.com. ", "Congress Looks at Possible Delta-US Air Merger. It was originally founded in Pittsburgh as a mail delivery airline called All American Aviation, which soon became a commercial passenger airline. of 153,713 shares. 6New chief executive; compensation may be for another executive office. 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. Gerald Grinstein Net Worth (2022) | wallmine and 10Includes shares indirectly held. 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. Se convirti en director ejecutivo de Delta en 2004, una poca de crisis financiera para la aerolnea. Delta Air Lines is a major American airline. 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. of 5,120 shares made by Rohan Pal . Wise counsel from a wise man: Do one thing well. What is Gerald Grinstein's Net Worth? "Some of our most successful entrepreneurs are really inventors at heart. On the same date, Thomas H. O'Leary, 54, will become president and chief . , The 72 year old executive ranks 12 within Transportation Chief executive . 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. Jerry is a founding partner of Harkness Capital and a Board Advisor to Kane is Able. Annualized total return during tenure covers the tenure of the executive or from the time of the IPO or available stock history. The Grinsteins have had their eye on the mansion for quite a while. BOX 20574, ATLANTA, GA, 30320. 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. of 8,500 shares made by Simon Davis After overseeing the firm's survival through bankruptcy and implementing a . The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. , He was CEO of Burlington Northern Railroad from 1985 to 1995, and joined Delta's board of directors in 1987. Grinstein appointed new executives to Delta who assisted in the company's survival despite the airline's precarious financial position. a net He and his wife have lived there while overseeing work on their nearly finished $65 million estate a few blocks away. 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 company commands approximately 30% of the Class 8 market share in North America and 17% of the heavy-duty market share in Europe. 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. [5] In negotiations with ALPA, the Delta pilots' union, he secured deep concessions in order to help the company stave off bankruptcy. 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. Gerald Grinstein. [1] In this position he helped form the corporate entity that resulted in BN's merger which formed the BNSF Railway. Mitsubishi Signs $1.9b Commuter Rail Deal With Manila: Nikkei, Twitter Revenue, Earnings Fell About 40% in December, WSJ Says, John Malone andCharter Directors Agree to $87.5 Million Settlement, China E-Commerce Giant JD Set for $1.4 Billion Discount Spree, Between Rounds of Golf, Trumps Searching for the Perfect DeSantis Diss, Your Saturday UK Briefing: Sunak Chalks Up a Win as the Budget Looms, Harrods Shrugs Off Recession Fears as Rich Get Richer, FT Says, Wealthy NYC Family Feuds Over $258 Million Madison Avenue Sale, Tom Sizemore, 'Saving Private Ryan' Actor, Dies at 61, The Exhibit Reality TV Show PittingArtist Against ArtistIs No Masterpiece. 2Four-year total. The company's only surviving airline, Pinnacle, became Endeavor Air. Everybody said, Yeah, I know Keith Grinstein hes my best friend, Hanauer recalled. no insider transaction in The Brink's Co (BCO). One proposal involves replacing the waterscape dinosaur sculptures and all with a meadow of native plants. 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. During Delta's bankruptcy, Grinstein and his management team accelerated the restructuring process that they had started in 2004. 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. WOODS) BNSF 1 Gerald Grinstein - (J. Email. He became CEO of Delta in 2004, a time of financial crisis for the airline. He is the ninth and current chief executive officer of Delta Air Lines, serving in this role since May 2, 2016. "Come on," Denny reminded him. 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. and 5Prior-year data. 4. It was announced on May 3, 2010 that UAL Corporation and Continental Airlines, Inc. would pursue a merger pending government approval. 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. Mr. Grinstein is a co-founder of Madrona Venture Group. Keith Grinstein, a 1978 graduate of Seattles Lakeside School, earned a bachelors degree from Yale University and a law degree from Georgetown. 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. 2023 Harkness Capital Partners | Admin Login, CEO: Delta Air Lines; Burlington Northern Inc.; Western Airlines, Chairman: Delta Air Lines; Burlington Northern Inc.; Western Airlines, Board Member: Aligent Technologies; Light Sciences Corporation; Browning-Ferris Industries; VANS, Inc.; Imperial Sugar Co,; PACCAR Inc.; Sunstrand Corporation; Foundation Bank; ThinkFire Services USA; Portland General Electric Co.; The Brinks Company; Pittston Minerals Group; Vascular Reconditioning Inc; Bax Global; Expedia.com, Private Equity Boards: Kane is Able; Jacobson Companies; Co-Founder, Madrona Investment Group: Advisor, Oak Hill Capital Partners. Del Quentin Wilber. Other names that Gerald uses includes Gerald B Greinstein, Gerald Grienstein, Jerry Grinstein, Gerald B Grinstein and Geral Grinstein. , The Brink's Co (BCO) Grinstein appointed new executives to Delta who assisted in the company's survival despite the airline's precarious financial position. 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." 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. 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 . EVP & Chief Financial Officer Daniel C. Janki sale VICE PRESIDENT/GENERAL COUNSEL Michael K Walton , 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. Though environmentalists would like to cite him as an example of big business concern for the environment, he says . Calculating net worth is one way to gauge financial health. Edward H. Bastian is an American business executive. . "Michael Jordan," Keith said. Wallmine is a radically better financial terminal. 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. ATLANTA Gerald Grinstein took the helm of Delta Air Lines at an age when many chief executives have given up the corner office for leisurely days of fly fishing or . gerald grinstein net worth. Under Review. (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). On average, Delta Air Lines executives and independent directors trade stock every 20 days with the average trade being worth of $4,340,244. , It's a community that's done enormous good, recasting funding priorities and embracing transparency. Bressler retired in 1990, and Grinstein assumed the additional post of chairman. 74th St., Redmond, WA 98052, or another charity. Lyn Grinstein politely declined to say how much the house will cost. He served as a Chief Counsel to the United States Senate Commerce Committee and a Counsel to the Merchant Marine and Transportation Subcommittee. He returned to Madrona in late 2007 after a leave of absence serving as CEO of Delta Air Lines for almost four years. ACE Aviation Holdings, the Canadian parent of Air Canada retained a roughly 6.1% investment stake in US Airways Group. On Thursday June 27, 2019 United changed the name of its parent company from United Continental Holdings to United Airlines Holdings. So when Gerald Grinstein retired last year and headed back to Seattle, he struck a deal with Gates. Stock quotes are delayed at least 15 minutes for Nasdaq, at least 20 minutes for NYSE/AMEX. [5] In negotiations with ALPA, the Delta pilots' union, he secured deep concessions in order to help the company stave off bankruptcy. Sanjay Gupta's net worth is $12 million.