EVP & Chief Financial Officer Daniel C. Janki Since 2001, the annual presidential salary has been set at $400,000. The company filed for bankruptcy protection under Chapter 11 in 2012 and emerged from Chapter 11 in 2013 as a wholly owned subsidiary of Delta Air Lines. MFAN's Open Letter to the President on the U.S. 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. Most recently Gerald bought 1,000 units of DAL stock worth $21,750 on 3 May 2007. 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. no insider transaction in PACCAR Inc (PCAR). 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. [3]. He served as a Chief Counsel to the United States Senate Commerce Committee and a Counsel to the Merchant Marine and Transportation Subcommittee. Above is the net worth, insider trading, and ownership report for Gerald Grinstein. He was CEO of Burlington Northern Railroad from 1985 to 1995, and joined Delta's board of directors in 1987. I think of Madrona not only as a source of capital but of business strength that takes an innovation and moves it into the marketplace.. 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 On October 1, 2010, UCH, formerly UAL Corporation, announced completion of the merger. 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." 1. The company commands approximately 30% of the Class 8 market share in North America and 17% of the heavy-duty market share in Europe. [8], ""Our rhetoric was terrific, but the performance wasn't there." 2004-2023 GuruFocus.com, LLC. Jerry is a founding partner of Harkness Capital and a Board Advisor to Kane is Able. Longtime friend Nick Hanauer, with whom he started the Seattle venture-capital fund Second Avenue Partners, called Mr. Grinstein a walking Rolodex., He loved to talk and tell jokes and he may have been the funniest guy in Seattle, Hanauer said. Burlington Northern operated between 1970 and 1996. So when Gerald Grinstein retired last year and headed back to Seattle, he struck a deal with Gates. , 4. Added: Jun 27, 2019. (Burlington Northern CEO Gerald Grinstein) (The Competitors) (Cover Story) (Interview). Paccar Financial Services provides retail and wholesale financing for customers and dealers, respectively. Grinstein received a BA from Yale University in 1954 and a JD from Harvard Law School in 1957. He became CEO of Delta in 2004, a time of financial crisis for the airline. Previous to Gerald's current city of Seattle, WA, Gerald Grinstein lived in Atlanta GA and Medina WA. 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 ", William Ruckelshaus, Gerald Grinstein celebrate 80th birthdays with salmon-fishing trip | The Seattle Times. 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 See Jerry Grinstein's compensation, career history, education, & memberships. "Michael Jordan," Keith said. But will the Seattle Landmarks Board sign off? It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. 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. In the example, we've denoted them as current net worth (NWc) and past net worth (NWp). And he thrives.". sale Jerry Grinstein is Founding Partner at Harkness Capital Partners LLC. He sought to maintain communication with the Delta Board Council and with representatives of frontline employees. ", "DELTA IN TRANSITION\ MULLIN ERA COMES TO A SURPRISE CLOSE.(Business). Delta, which had previously sold its fuel hedges in a move to raise cash, was forced into an untenable cash position. During Delta's bankruptcy, Grinstein and his management team accelerated the restructuring process that they had started in 2004. This paint scheme was later applied to the railroad's last order for locomotives before the merger, the EMD SD70MAC. . He was beloved by many, many people.. Delta shed non-performing assets, slashed the mainline fleet from nine models to five, and shed thousands of jobs. You also have the option to opt-out of these cookies. The car was built by Budd in 1952 as a business car for the Chicago, Burlington & Quincy RR. 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. of 8,500 shares made by Simon Davis Gerald Grinstein made 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 . Gerald Grinstein is a Co-Founder and serves as Strategic Director at Madrona Venture 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. Start a company in the Pacific Northwest. One of eight North American Class I railroads, BNSF has 35,000 employees, 32,500 miles (52,300km) of track in 28 states, and nearly 8,000 locomotives. Bill Gates bought the place from Sikma in 1993 for $8 million. ", 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. 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. 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. Three years into his tenure as CEO, he also was named Board Chairman of the International Air Transport Association (IATA), representing the worlds airlines. 4. Grinstein appointed new executives to Delta who assisted in the company's survival despite the airline's precarious financial position. Harkness Capital Partners Team. A memorial service will be at 12:30 p.m. Monday (Oct. 6) at Temple De Hirsch Sinai, 1511 East Pike St., Seattle. It's a community that's done enormous good, recasting funding priorities and embracing transparency. Northwest also performed worse than expected, losing $5.07 a . Gurus may be added or dropped from the GuruFocus site at any time. Some of our most successful entrepreneurs are really inventors at heart. 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. Named for its creator, "Grinstein Green" was applied to the train's F-units along with a cream colored stripe down the middle. Lyn Grinstein politely declined to say how much the house will cost. Other recent insider transactions involving Delta Air Lines Inc (DAL) include The Grinsteins have had their eye on the mansion for quite a while. Refer a Friend and Earn One Month of Free Membership. Will Others Follow? 0:01. It was a dance of identical twins with one time-traveling sibling three decades younger than the other. 74th St., Redmond, WA 98052, or another charity. 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. of 350,919 shares. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. 8Received options or restricted stock in lieu of portion of salary. Gerald Grinstein owns over 1,000 units of Delta Air Lines stock worth over $39,030 and over the last 19 years Gerald sold DAL stock worth over $0. Enjoy a 7-Day Free Trial Thru Mar 11, 2023! Gerald has made over 1 trades of the Delta Air Lines stock since 2007, according to the Form 4 filled with the SEC. He spent a cool $71,000 for his Tesla, in large part because it is U.S. built, incorporates U.S. technology, and is the result of U.S. innovation. [2] While at the helm of BN, Grinstein adopted a new paint scheme for the railroad's executive office car train. Wise counsel from a wise man: Do one thing well. 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. Vice President Paulo Henrique Bolgar Other key executives at Delta Air Lines Inc include ALPA was founded on 27 July 1931 and is a member of the AFL-CIO and the Canadian Labour Congress. The estimated Net Worth of Gerald Grinstein is at least $32.1 Thousand dollars as of 3 May 2007. "Some of our most successful entrepreneurs are really . Mr. Grinstein died unexpectedly Sunday (Sept. 28) of an undisclosed cause. He ended his service to Delta by retiring from his position as CEO in 2003, and as chairman of the board in 2004. Del Quentin Wilber. Please note GuruFocus will not track the insiders transaction performance if he/she does not have buying transactions. Built in 1941, the Evergreen Point Road mansion once was home to former SuperSonics star Jack Sikma. Grinstein and his wife Carolyn live in Medina, Washington. The 72 year old executive ranks 12 within Transportation Chief executive . Life is short. They lived just across the street for years before moving to Fort Worth, Texas, home of Burlington Northern's headquarters. Mr. Grinstein grew up in a prominent Seattle family. a net 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. sale 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 . He was succeeded by Richard Anderson, a former Northwest Airlines executive. There was a dervish-style coherence to his method, but I was clueless. ACE Aviation Holdings, the Canadian parent of Air Canada retained a roughly 6.1% investment stake in US Airways Group. Gerald's mailing address filed with the SEC is DELTA AIR LINES, INC., P.O. The first step is to calculate the net worth of the individual at the start and end of the period. His mother, Rosalie Alhadeff, is part of the family that created the Longacres horse-racing track in Renton. Gerald has made over 1 trades of the Delta Air Lines stock since 2007, according to the Form 4 filled with the SEC. This paint scheme was later applied to the railroad's last order for locomotives before the merger, the EMD SD70MAC. Though environmentalists would like to cite him as an example of big business concern for the environment, he says . , We note that Apple's Net worth is $134.05 billion, and that of Amazon is $19.2 billion. Delta Air Lines is the U.S. global airline leader in safety, innovation, reliability and customer experience. Delta's sale of frequent flier miles, particularly to American Express, is a keydriver of the firm's profits. After Delta, Mullin has emerged as a leader in both the public and private sectors, serving other companies and continuing to be a philanthropic contributor. Net worth is the total of one's assets minus total liabilities. All Rights Reserved. Fundamental company data provided by Morningstar, updated daily. , ", "Congress Looks at Possible Delta-US Air Merger. Under Review. ", "Delta Air Lines needs to cut costs, says CEO. purchase Among his survivors are his wife, Claire, his parents and his brother, Charles. of 24,590 shares made by William C Carroll It was the brainchild of William Boeing and emerged from his consolidation of numerous carriers and equipment manufacturers from 1928 to 1930. Musk Made a Mess at Twitter. We also use third-party cookies that help us analyze and understand how you use this website. 7Less than $100,000. 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. Gerald ("Jerry") Grinstein (born 1932) is an American businessman, the former Chief Executive Officer (CEO) of Delta Air Lines. He and his wife have lived there while overseeing work on their nearly finished $65 million estate a few blocks away. She did say the couple plan to make some changes. BNSF No. This website uses cookies to improve your experience while you navigate through the website. sale Commitment to Global Development will be featured in a print ad this Thursday and you don't want to miss it. For example, if someone owes more than the total value of their assets, they have a negative net worth. George Washington's salary of $25,000 was . Gerald Grinstein made Gerald Ronson earned the money being a professional Philanthropist. Carp served as the chairman of the board of Delta Air Lines, replacing former chairman Gerald Grinstein. The analogy sounded a little too simple. It was humbling. Gerald Grinstein. In Fort Worth, The Civilized West, . It was also, again, a $16,000 position. Mr. Grinstein died unexpectedly Sunday (Sept. 28) of an undisclosed cause. loch venachar boat hire,

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