I was talking to a Delta agent who was very impressed with Gerry Grenstein. If anyone can pull Delta out of bankruptcy, this individual felt that Grenstein could. When Grenstein came aboard, he was given a salary of $500K, no bonuses, etc. He then asked for a 10% pay cut from all Delta employees and then took a 25% pay cut himself. When he had to come back an ask for an additional 9% (I believe) he took another 25% pay cut for himself. He does participate in the "pain". There will be those who will argue that he should not be making what he is making. But, if Delta is to survive, they need someone at the helm with business acumen and the willingness to get the job done. One philosophy that he would like to implement, according to this particular person I spoke to, is, if you have earned the miles, you shouldn't have to scramble for them 331 day out. If there is a seat on the plane, you should be able to get it. That would work for me and I would feel even more enthusiastic about my customer loyalty.
