." Chairman and chief executive officer, Goldman, Sachs & Company NEW YORK, NY - FEBRUARY 18: L to R: Stephen Byrd and Jessye Norman, Laura Bush Parsons and Richard Parsons attend Apollo Club Harlem at The Apollo Theater on February 18, 2013 in New York City. Parsons served with the Domestic Council until the end of the Ford administration and returned to New York to work for Governor Nelson Rockefeller. There are a number of other black executives who have elevated positions in corporate America, said Parsons inBlack Enterprise.The process is rolling forward, even if it isnt moving as fast as some of us would like. Despite his distinction as a high-ranking black in business, Parsons downplays the racial aspects of his success. Parsons took on the role of co-COO, sharing the job with Robert Pittman (1953), former president of AOL. (2 minutes) Former President George W. Bush, 74, is the author of "Out of Many, One: Portraits of America's Immigrants" (Crown). Meanwhile, he answered complaints from colleagues at the Dime that he was deserting them. President Ford also used his services, first as a general. Powers, New York Citys First Deputy Mayor at the time, complemented Parsonss leadership skills in the New York Times, noting that Parsons really knows how to bring people together and find common ground. "[11] In December 2001, it was announced that Levin would retire and Parsons had been selected as his successor. In turn, Time Warner would have unlimited access to the ever-expanding Internet pipeline. Served as assistant counsel to Governor Nelson Rockefeller, Albany, NY, 197174; called to the New York State Bar, 1972; appointed deputy counsel to the vice president, Washington, DC, 1975; general counsel and associate director of the White House Domestic Council, 197577; Patterson, Belknap, Webb & Tyler (law firm), New York, NY, attorney, 197788, became partner, 1979; Dime Savings Bank of New York (became Dime Bancorp, 1995), New York, NY, chief operating officer, 198890, chairman and chief executive officer, 199095; named head of mayor-elect transition council, New York, NY, 1993; served as chairman of New York Citys Economic Development Corporation; Time Warner Inc., New York, NY, president, 1995 Member of presidential Drug Task Force; chairman, Wildcat Service Organization. [17][18], From the early 1980s through much of the 1990s, Parsons owned a house near the Rockefeller family estate in Pocantico Hills (see Kykuit), where his grandfather was once a groundskeeper. This political stance was consistent with his rejection of the Democrats philosophy. After graduation, he attended college at the University of Hawaii, where he excelled both academically and socially; Parsons was a varsity basketball player and the social chairman of his fraternity. Among the qualities that makes Parsons as successful as he is, said Brooks, are "his focus, his ability to analyze the facts and get to the bottom line, and his ability to motivate an. Parsons, 66, has been married for 35 years to his wife Laura, 67. During his 11 years at the firm, Parsons took on Margaretta Rockefeller, the widow of Nelson (who had died in 1979), as a high-profile client. "Parsons, Richard https://www.encyclopedia.com/african-american-focus/news-wires-white-papers-and-books/parsons-richard, "Parsons, Richard 11. 23 Feb. 2023 . Farmington Hills, Mich.: Thomson Gale, 2003. As he told Cohen, "Ideally, you want to underpromise and overdeliver. "Getting your team together is the more important thing." In the early 1990s he became president of Time Warner Inc., making him one of the most highly ranked African Americans in the corporate United States. Among his clients were such high-profile figures as Happy Rockefeller and the cosmetics queen EsteeLauder. In 2001, President George W. Bush appointed Parsons along with former U.S. senator Daniel Moynihan to a commission to strengthen Social Security Program changes. He was also in charge of the legal department and human resources. Dl, D6. Parsons was named CEO for AOL Time Warner. His journey to future success was given some impetus by his girlfriend at the time, Laura Bush, who became his wife in 1968. He also met a deputy attorney general, Harold R. Tyler, and one of his aides, a young Rudolph W. Giuliani, with whom he was to be closely associated supporting him in his campaign for New York mayor and heading his transitional council.[8]. He has claimed that race was never a defining character in his life. However, he discovered that he could get into a law school in New York without a college degree if he scored well enough on his pre-law exams. In a December 2001 press conference, Levin stunned the industry when he named Parsons as AOL Time Warner's next CEO. //]]>. "The Man Behind the Merger." It was a drastic move, but he also kept communications open with his employees every step of the way. It did make history as the largest corporate purchase ever, but it also became known as perhaps the most failed megamerger on record. L. Mpho Mabunda and Shirelle Phelps. Parsons, who owns a home on Block Island, is a child psychologist. Graduated from Princeton University in 2006 . The process is rolling forward, even if it isnt moving as fast as some of us would like. Despite his distinction as a high-ranking black in business, Parsons downplays the racial aspects of his success. At the same time people speculated about what role Parsons would play in Time Warner's future. O de wurl aint flat,An de wurl aint roun,Hits one long stripHangin up an downJes Souf an Norf;Jes Norf an Souf. After four years, he discovered that he could get into a law school in New York if he scored well enough on his pre-law exams. In just a few years he reduced the Dimes $1 billion in bad debts to $335 million. In mid-2003, he sold off parts of the company that were considered to be noncore assets, including the sports teams, the Atlanta Hawks and Atlanta Thrashers. The Parsons appointment was not without controversy at Time Warner. This opportunity with Time Warner is a once in a lifetime one. In Washington, the young lawyer also worked directly with President Gerald Ford (1913), first as general counsel and then as an associate director of the domestic council. Judge [8] He helped negotiate the company's merger with America Online in 2000, creating a $165-billion media conglomerate[10] that is "usually described as the worst merger of all time. Former First Lady Laura Bush told TV host Kelly Clarkson that she was "very surprised" to find out her husband, former President George W. Bush, was taking up painting as his . Addresses: Office Time-Warner Inc., 75 Rockefeller Plaza, New York, NY. After New Mexico Governor Bill Richardson withdrew his name from consideration for the position of Secretary of Commerce in the Obama Administration, Parsons's name was floated as a possible nominee. Member of the board of directors of Dime Savings Bank, Federal National Mortgage Association, Philip Morris Companies, Time Warner Inc., New York Zoological Society, and American Television & Communications Inc.; trustee of Rockefeller Brothers Fund, Howard University, and Metropolitan Museum of Art. Although Levin was effectively in charge, it was Parsons who consistently took on the tough assignments and it was Parsons who employees turned to for guidance. However, the date of retrieval is often important. While in Hawaii, he also met his future wife, Laura Bush. ." After the deal was made, AOL Time Warner's board responsibilities were split directly in half, with one exception: Levin became the sole CEO in charge of operations; Case retained a backseat role as chairman. The announcement surprised many media watchers who expected chief operating officer Robert Pittman to take the helm. As one AOL shareholder told Business Week, "Dick is the right guy to be running the company right now." In June 2016, Parsons was appointed Board Chair of The Rockefeller Foundation, a foundation promoting the well-being of humanity worldwide. In his spare time he enjoys shooting pool and listening to music. . In 2000, Parsons guided the merger of Time Warner with America Online (AOL). "It's a collaboration," he told Anthony Bianco and Tom Lowry of Business Week. He was again entering an industry that was new to him, and some doubted his qualifications. He also met a young Rudolph W. Giuliani, with whom he supported in his campaign for New York mayor and heading his transitional council. After all, Parsons had sat on the company's board of directors for several years, and had developed close ties with top TW executives. He joined the foundation's Board of Trustees in 2008. "Richard Dean Parsons." [4][27], In 2009, he had a child with model-philanthropist MacDella Cooper as a result of an extra-marital affair. His tactics paid off, and in just a few years, Parsons had reduced the amount of the Dime's bad debts from $1 billion to $335 million. His maternal grandfather had been head groundskeeper at the John D. Rockefeller estate, Kykuit. Parsons was a bright child with a gift for charming people by telling entertaining stories. With a calm, cool-headed resolve, he doggedly tackled the problems that lay ahead. "Renaming our company will strengthen the identity of the AOL brand name among consumers," the CEO said in a written statement reported on CNNMoney.com. . Business Week Online.http://www.buisnessweek.com/magazine/content/03_20/b3833001_m2001.htm (Accessed 2 December 2005). cronin friend betty barb grand cortopassi "Whenever we had a problem with one of the units, Parsons was always the guy who would solve it," former co-chairman of Warner Brothers Robert Daly explained to Business Week. I have other things I'm focused on." Parsons also had to deal with an onslaught of unhappy regulators. I dont do anything differently than I would otherwise because I have that responsibility to my family, he told the New York Times in 1994. In the early 1990s he became president of Time Warner Inc., making him one of the most highly ranked African Americans in the corporate United States. https://www.encyclopedia.com/education/news-wires-white-papers-and-books/parsons-richard-dean-1948, Decker, Ed "Parsons, Richard Dean 1948 Parsons was chosen by Mayor Giuliani to head the Transition Council and later in 1993 to be the deputy mayor for economic development. He is also Chair of the Apollo Theater Foundation and co-chair of the advisory board of the Smithsonian National Museum of African American History and Culture. . Member of the board of directors of Dime Savings Bank, Federal National Mortgage Association, Philip Morris Companies, Time Warner lnc., New York Zoological Society, and American Television & Communications Inc.; trustee of Rockefeller Brothers Fund, Howard University, and Metropolitan Museum of Art. Over the years Parsons has, however, admitted the possibility of entering politics later in life. "Parsons the Man: Public Service as Much as Private Sector Success Define AOL Time Warner's New CEO." And most "Parsons, Richard Advertisement. Broadcasting executive Percy E. Sutton served as Manhattan borough president between 1966 and 1977, Hank Paulson Just before Parsons officially took over from Levin in May of 2002, the company posted a quarterly loss of $54 billion, the largest in U.S. history. Parson changed his attitude dramatically (from negative to positive) and reached a turning point when he met and later married Laura Ann Bush, a child psychologist, [CDATA[ According to Bush, it was the most logical decision since Parsons enjoyed arguing so much. warren central student killed 2022. For the next six years, he served as the number-two executive Then, they dont value it. Henry Louis Gates Jr. New York: Oxford University Press, 2004. "I didn't have to think twice about it. He serves on the board of several cultural institutions, including the Museum of Modern Art and Lincoln Center. Los Angeles Times, January 13, 2001, p. C1; December 6, 2001, p. C1. ExperienceIT, +5 more. He graduated number one in his class of more than 100 students at the age of 23, then received the highest marks among 3,600 lawyers who. 23 Feb. 2023 . . According to Better Chance president Sandra Timmons, as quoted by Hispanic PRWire, "Richard Parsons serves as a role model for aspiring executives of all races, but his success has earned him a special leadership role among African Americans.". He skipped a grade in elementary school and another in high school. In 1968, Parsons married Laura Ann Bush, a community activist with a doctorate in child psychology, who he met at the University of Hawaii. In his biggest move to trim the $27 billion debt, Parsons sold Warner Music Group in November of 2003 for a reported $2.6 billion. [5] Growing up in the Bedford-Stuyvesant area of Brooklyn, Parsons's father, Lorenzo Locklair Parsons, was an electrical technician and his mother, Isabelle (ne Judd) was a homemaker. Encyclopedia.com. Levin, however, felt that Parsons was the right man for the job, and some business insiders were not that surprised. Richard Dean Parsons, CEO and president of the AOL-Time Warner Corporation, emerged through academic and corporate circles to become one of the most successful African Americans in corporate America. Richard Parsons has become one of the most prominent figures in American business, without rising through the usual ranks required to reach a high-level corporate position. Contemporary Black Biography. "Parsons Faces Major Test in Unifying AOL Time Warner." [25], On May 9, 2014, in the wake of the Donald Sterling racial remarks controversy, it was announced that Richard Parsons was appointed the interim CEO of the Los Angeles Clippers. By the mid-2000s, however, analysts reported that Time Warner was on a definite upswing: employee morale was high, investors were newly confident, and the monstrous debt had been significantly slashed. Parsons accepted the presidency for a reported salary of several million dollars a year. In a Black Enterprise article Parsons stated: "What motivates me is a sense of accountability to people who are important in my life." View the profiles of people named Laura Parsons. Parsons also worked on the transition team for Michael Bloomberg, who was elected Mayor of New York City in 2001. Bell, Gregory S., "Richard Dean Parsons." http://www.ford.utexas.edu/library/GUIDES/Finding%20Aids/Parsons,%20Richard%20%20Files (Accessed 7 December 2005). Time (December 17, 2001). New York Times, May 8, 1990, p. D5; August 26, 1990, p. D5; July 7, 1994, p. D4; October 31, 1994, pp. And, after taking over as chairman from Steve Case, who stepped down in January of 2003, Parsons went to work to repair the damage from the AOL merger. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Michael Rogers is a salesman for Oracle software, In this segment, he shares career advice through the software industry. 23 Feb. 2023 . He graduated number one in his class of more than 100 students at the age of 23, then received the highest marks among 3, 600 lawyers who took the state bar examination in 1971. He has claimed that race was never a defining character in his life. "Time Warner's Chairman and CEO Richard D. Parsons Honored by a Better Chance." ." Parsons became a partner in just two years at Patterson, Belknap, Webb & Tyler, a move that typically demanded seven years. After Giuliani was elected, he named Parsons to be head of his transition council. Admiration for Parsonss skills in the business world resulted in his being courted as a board member for a number of leading companies and institutions, including Time Warner Inc., Philip Morris, Tristar Pictures, Howard University, and the Metropolitan Museum of Art. In addition, Parsons provided legal counsel to several major U.S. corporations, including the Dimes Savings Bank of New York, the largest savings and loan institution in the state. The merger created the fourth largest thrift institution in the nation and the largest on the East Coast, with assets worth $20 billion. X. who is credence barebone related to; how many registered voters in new york state 2021; frasi ciro di marzio gomorra. In the latter post, Parsons focused on drug issues. They have three grown children: Gregory, Leslie, and Rebecca. Parsons was a member of the economic advisory team for President Barack Obama in 2008. To many, it seemed that Pittman took on most of the plum assignments in the company, considering he was in charge of the high-profile AOL operations. I know the bank is in good hands., Some considered the Parsons appointment at Time Warner to be a significant achievement for black executives, one that helps pave the way for them to enter the highest positions in business. After Giuliani was elected, he named Parsons to be head of his transition council. [6] He skipped a grade in elementary school and another in high school. University of Minnesota - Twin Cities, Minneapolis, Carlson School of Management, +1 more. on August 30, 1968. He frequently downplays race as a factor or handicap in his success. Bush, a full-time resident of the island for the past decade, is the owner of Albany Records, which produces "uncommonly classical" music by American composers; she was previously the manager of the Albany, New York, symphony. Peter J. ." . Education: Graduated from University of Hawaii, 1968; Union University, University of Albany Law School, J.D., 1971. Laura Lane Welch Bush (ne Welch; born November 4, 1946) is an American teacher, librarian, memoirist and author who was First Lady of the United States from 2001 to 2009. Former President George W. Bush and Laura Bush's daughter Barbara Bush gave birth to her first baby with husband Craig Coyne on Monday By Mary Park Published on September 29, 2021 11:42 AM Birthplace: Brooklyn, NY Gender: Male Race or Ethnicity: Black Sexual orientation: Straight Occupation: Business Nationality: United States Executive summary: CEO of Time Warner, 2002-07 Wife: Laura Bush Parsons (three children) Mistress: MacDella Cooper (model, one daughter) Daughter: Ella (b. Aug-2008 with Cooper) Fortune (August 8, 2004). Parsons remained optimistic, but he proceeded cautiously. The hope was that by combining forces they would make the most successful merger in history: AOL would have access to Time Warner's massive media content and it would be able to reach even more users thanks to TW's cable television operations. With the bank now on solid financial ground, he engineered a merger with Anchor Savings Bank to create Dime Bancorp in early 1995. [1] He was previously the interim CEO of the Los Angeles Clippers NBA franchise. As part of his management restructure, Parsons opted to lay off almost one-third of the Dime's staff. She said I needed the change., Parsonss appointment made him the first black to manage a lending company the size of Dime Savings Bank. [4] He was one of five children. Wall Street Journal, May 8, 1990, p. BIO; January 30, 1995, pp. During her "report" Parsons talked about a lot of thingsthat happened in this week's news cycle, such as Ken Bone's rise to viral fame and subsequent crash back to Earth due to some unearthed. Parsons' grandfather, Judd, was a groundskeeper on Pocantico, part of the Rockefeller estate, long before Parsons became a protg of Nelson Rockefeller. https://www.encyclopedia.com/education/news-wires-white-papers-and-books/parsons-richard-dean-1948-0, Decker, Ed; Minderovic, Christine "Parsons, Richard Dean 1948 Its not a bad time for me to make a move. Parsons was born in the economically disadvantaged Bedford-Stuyvesant neighborhood of Brooklyn, New York on April 14, 1948 to Lorenzo Locklair, an airline technician (who installed and repaired electronic navigation systems for the Sperry Rand Company), and Isabelle Judd Parsons (a homemaker). Within the Cite this article tool, pick a style to see how all available information looks when formatted according to that style. 23 Feb. 2023 . Over the years Parsons has, however, admitted the possibility of entering politics later in life. His maternal grandfather had been head groundskeeper at the John D. Rockefeler estate, Kykuit. The most he did at the time was to learn to . Parsons began working at Dime during a difficult period. Parsons's tenure with Rockefeller and Ford opened up many doors for him and brought him to nationwide attention as an up-and-coming young executive. Later that year, it was announced that Parsons had been selected as CEO of America Online. He became such a trusted adviser that in 1974, when Rockefeller headed to Washington to serve he would be leaving AOL Time Warner, the assumption was that Pittman would be his likely successor. lauren bush david laura miranda kerr coocoo coconut oil marries models. Under his tutelage the bank staged a remarkable comeback, largely through his massive overhauling of the banks management systems and work force. Black Firsts. It was either you go for it, or its gone forever, claimed Parsons mBlack Enterprise.Its not a bad time for me to make a move. He met with the then President-elect on Friday, November 7, 2008, along with many other economic experts, to discuss measures to solve the current economic crisis. (February 23, 2023). In 2003 the University of Hawaii awarded Parsons the honorary doctor of humane letters degree. After his announcement as interim Clippers CEO in L.A. last week, the millionaire businessman reportedly flew back to the East Coast to be by her side as she underwent a medical procedure on Tuesday. While in Hawaii, he also met his future wife, Laura Bush. in history from the University of Hawaii in 1968. Governor Rockefeller rewarded Parsonss solid performance by keeping him on his staff when he became vice president under President Gerald Ford in 1974. "America Online is an important part of our company and we expect it to continue to make major contributions to our success in the future. But in 2008, he was less of a doting husband when he fathered a daughter, Ella . He ruminates for some time before addressing the. According to Ebony, Parsons said that the woman I was dating [Bush] told me, You like to argue so much you ought to become a lawyer and get paid for it.. To this union three children were born (Gregory, Leslie, and Rebecca). [30][31], Last edited on 10 February 2023, at 21:13, Donald Sterling racial remarks controversy, "Time Warner Confirms Parsons Stepping Down", "UH alumnus replacing Les Moonves as interim chairman of CBS", "Parsons Resigns From CBS Board due to Health Reasons: Dick Parsons resigns from CBS board, Strauss Zelnick steps into role of interim chairman", "Citigroup Chairman Richard Parsons TIME", "Did New Clippers CEO Dick Parsons Really Play College Basketball? In 1993 Parsons was criticized by other blacks for supporting Rudolph Giuliani in the New York City mayoral race, instead of the incumbent Democrat, black mayor David Dinkins. Parsons skipped two grades and graduated from high school at the age of sixteen. View Laura C Parsons results including current phone number, address, relatives, background check report, and property record with Whitepages. It is like air. Although Parsons refused that position, he consented to work as chairman of the citys Economic Development Corporation. To the extent that we've lost credibility, repairing it is important." He is a Black business executive and lawyer. Born: March 28, 1946, in Chicago, Illinois., Public Company But it's not my life. In Contemporary Black Biography. Whether I was an African-American, an Arab-American, a Jewish-American, or some other American, there are a lot of people who I cannot let down, so you have to live your life a certain way to be a role model to the people who are important to you.. Parsons became a board member for Time Warner, Inc., Phillip Morris, Tristar Pictures, Harvard University, and the Metropolitan Museum of Art. 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