Out of the Woods.

DELTA Air Lines Inc. DAL

This article describes how Gerald Grinstein came out of retirement from Delta Air Lines Inc. to successfully resurrect the airline from bankruptcy and back into a leadership role. New routes, planes, and financing were made possible through layoffs, major pay cuts and canceled pensions. The author notes Grinstein slashed his own pay and benefits, a threat of takeover by U.S. Airways and the pledge of cash incentives if goals were met was what inspired workers to rise to first place in customer satisfaction.