"He intellectualizes outcomes and gets people to agree with his outcomes." The proud parents were by Jenna's side when she married her husband, Henry Hager, in. In 1968, Parsons married Laura Ann Bush, a community activist with a doctorate in child psychology, who he met at the University of Hawaii. Parsons answered these reservations by promising to devote his full attention to his new $525,000-a-year post. Governor Rockefeller rewarded Parsonss solid performance by keeping him on his staff when he became vice president under President Gerald Ford in 1974. As a result of the savings and loan crisis of the mid-1980s, the Dime had lost some $92.3 million; it was also under scrutiny from federal regulators. 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. "Getting your team together is the more important thing." 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. This opportunity with Time Warner is a once in a lifetime one. ." And most He graduated at the age of twenty-three, number one of more than 100 students and received the highest score among 3,600 lawyers in 1971 who took the state bar exam. In 2001 Parsons was named the successor to AOL Time Warners CEO, Gerald Levin, who was retired in May of 2002. [6] He later attended the University of Hawaii at Manoa, where at 6'4" tall he may have played varsity basketball. But it was Parsons who oversaw the units that brought in the most revenue, including Warner Brothers, New Line Cinema, and Time Warner Trade Publishing. Washington Post, November 1, 1994, p. D5; December 6, 2001, p. EO1. Los Angeles Times, January 13, 2001, p. C1; December 6, 2001, p. C1. ." Whether he remains with Time Warner or runs for public office, or goes in a totally different direction, Parsons will continue to be a role model in the African American community. . on August 30, 1968. He has claimed that race was never a defining character in his life. Parsons began his career as a member of New York governor Nelson Rockefeller's legal staff where he served when Rockefeller became vice president of the United States under President Gerald Ford in 1974. [4] He was one of five children. His journey to future success was given some impetus by his girlfriend at the time, Laura Bush, who became his wife in 1968. 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.". Addresses: Office AOL Time Warner, 75 Rockefeller Plaza, New York, NY 10019. council and then as associate director of the domestic council. agreed that friendly giant Richard Parsons had been just what the fractured titan needed. In 1977 deputy attorney general Harold R. Tyler Jr. requested Parsons to come aboard at Patterson, Belknap, Webb, & Tyler where he became a partner in two years, a move that usually demands seven years. In 2007, he became the chairman of the board of directors of the Jazz Foundation of America. He became an advisory trustee of the family's principal philanthropy, the Rockefeller Brothers Fund, and he sits with David Rockefeller on the board of the World Trade Center Memorial Foundation. warren central student killed 2022. Fortune (August 8, 2004). . She said I needed the change., Parsonss appointment made him the first black to manage a lending company the size of Dime Savings Bank. Parsons, 66, has been married for 35 years to his wife Laura, 67. It just isn't for me. In 2009, he had a child with model-philanthropist MacDella Cooper due to an extra-marital affair. Named president of Dime Savings Bank of New York in 1988 even though he had had no previous experience in the banking industry, he masterminded a turnaround at the bank in just a few years. He ruminates for some time before addressing the. He played varsity basketball there, and was also the social chairman of his fraternity. O de wurl aint flat,An de wurl aint roun,Hits one long stripHangin up an downJes Souf an Norf;Jes Norf an Souf. 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 September 2018, Parsons became the Interim Chairman of the Board for CBS replacing Les Moonves. (Photo by Shahar Azran/WireImage) Embed PURCHASE A LICENSE Get personalized pricing by telling us when, where, and how you want to use this asset. Again, the business community was rocked by the news. Mayor Giuliani later asked Parsons to become his Deputy mayor for Economic Development. BusinessWeek Online (May 19, 2003) http://www.businessweek.com/magazine/content/03_20/b3833001_mz001.htm (accessed on July 29, 2004). Left to my own devices, I dont feel any compulsion to strive, he told the New York Times in 1990. Restrictions: Contact your local office for all commercial or promotional uses. I have other things I'm focused on." In 1994, Gerald Levin (1939), chairman of Time Warner (TW), openly recruited Parsons to take over as president of the company. Encyclopedia.com. Some top officials at the bank questioned his appointment, both because of his lack of experience in the banking industry and his previous work in government that made him likely to leave the company for the political arena. Chief among his tasks since joining Time Warner have been the restructuring of the companys financial and administrative operations, as well as evaluating the responsibilities of artists regarding explicit displays of sex and violence. The bank suffered many losses due to New York City real estate devaluation in the 1980s and during the previous year had lost $92.3 million. ." Parsons is due to mark his 31st wedding anniversary with his wife, the former Laura Ann Bush, in August. Zone Development Corporation, which was established to spur the development of business and the growth of job opportunities in Harlem. They have three grown children: Gregory, Leslie, and Rebecca. Education: Graduated from University of Hawaii, 1968; Union University, University of Albany Law School, J.D., 1971. Parsons refused the position but consented to work as the Economic Development Corporation chairperson. Many, however, questioned the appointment since Parsons had no real experience in the banking industry. In 1968, Parsons married Laura Ann Bush, a community activist with a doctorate in child psychology, who he met at the University of Hawaii. During his 11 years at the firm Parsons took on Happy Rockefeller, the widow of Nelson (who had died in 1979) as a high-profile client. You cant give something to somebody to have, said Parsons in the same article. Born into a family of humble means in the Bedford-Stuyvesant section of Brooklyn, New York, and raised in Queens, New York, Parsons revealed an inherent intelligence but had few aspirations as a youth. As reported in Jet magazine, Levin commented, "I have the greatest confidence in Dick Parsons' ability to lead the company forward, coalesce its diverse interests, and work with our strategic partners to achieve our ambitious goals." "Time Warner Drops AOL Name." . An article in Business Week Online stated that after accepting the Time Warner presidency, "Parsons gradually made himself indispensable to Time Warner by taking on tough assignments that the increasingly insular Levin could not do himself." Cite this article Pick a style below, and copy the text for your bibliography. Barbara Pierce Bush, daughter of former President George W. Bush and former First Lady Laura Bush, welcomed daughter Cora Georgia in September 2021 with husband Craig Coyne. In a December 2001 press conference, Levin stunned the industry when he named Parsons as AOL Time Warner's next CEO. J. Bruce Llewellyns career history might be viewed as a virtual microcosm of twentieth-century minority, Attorney, broadcasting executive, elected official Notable Black American Men, Book II. Parsons assumed his post as president of Time Warner in January of 1995, a job that came with a reported multi-million dollar salary. Business executive . In 1977, Parsons returned to New York and became a partner after only two years at the Patterson Belknap Webb & Tyler law firm; also working at the firm was Giuliani. Get our quarterly newsletter to stay up-to-date, plus all speech or video narrative bookings near you as they happen. Although she never cared to think in these terms, Jane Bolin would often have her name followed with the descriptive, "first black wo, John Vliet Lindsay Contemporary Black Biography. Ed Decker and Christine Miner Minderovic. They have three grown children: Gregory, Leslie and Rebecca. In 1999, when AOL and Time Warner merged, parsons became the co-chief operating officer, a position shared with Bob Pittman. Join Facebook to connect with Laura Parsons and others you may know. 23 Feb. 2023 . 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. Dawn Bennett-Alexander assisted Parsons from March 1976 until the end of the administration. (September 18, 2003) http://money.cnn.com/2003/09/18/technology/aol_name (accessed on July 31, 2004). Rockefellers influence on Parsons remained strong and prompted him to become a Republican whose views were liberal on social issues and conservative on economic ones. University of Hawaii System.http://www.hawaii.edu/offices/bor/honorary/php?person=RP (Accessed 2 December 2005). Thanks in part to such associations Parsons became what he frequently describes as a Rockefeller Republican, a person who is conservative when it comes to economic matters, and more liberal concerning social issues. "AOL Time Warner Still Fixing Holes." It is like air. As a result, Dime Bancorp became the largest thrift institution on the East Coast and the fourth largest in the United States. Business executive Richard Parsons has been called a teddy bear, a master diplomat, and a charmer, but perhaps the best description that has been applied to him is "friendly giant." ." Some top officials at the bank questioned his appointment, both because of his lack of experience in the banking industry and his previous work in government that made him likely to leave the company for the political arena. He later attended the University of Hawaii at Manoa, where he played varsity basketball. Born April 4, 1948 in Brooklyn, NY; son of Lorenzo tocklair (an airline technician) and Isabelle (a homemaker; maiden name, Judd) Parsons; married Laura Ann Bush, August 30, 1968; children: Gregory, Leslie, Rebecca Education: Graduated from University of Hawaii, 1968; Union University, University of Albany Law School J.D., 1971. NEW YORK, NY - FEBRUARY 18: Laura Bush Parsons and Richard Parsons attend Apollo Club Harlem at The Apollo Theater on February 18, 2013 in New York City. Harry Albright Jr., Rockefeller's executive assistant in Albany, New York and previous chairman of the Dime Savings Bank, cited Parsons as a great member of Rockefeller's staff and one who has great judgment and leadership skills. Parsons served with the Domestic Council until the end of the Ford administration and returned to New York to work for Governor Nelson Rockefeller. 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. Parsons also remained a committed leader in other areas of public and community service. Black Firsts. He graduated high school at the age of 16, then devoted much of his attention to sports as a student at the University of Hawaii. He also earned staff respect at Dime with his fair treatment of personnel. After Giuliani was elected, he named Parsons to be head of his transition council. Facebook gives people the power to. Parsons had no clear idea what direction to take after college, but at the prompting of Laura, he decided to go to law school. Retrieved February 23, 2023 from Encyclopedia.com: https://www.encyclopedia.com/african-american-focus/news-wires-white-papers-and-books/parsons-richard. From March 1975 to January 1976, Parsons was assisted in his duties by Lyn May, who had worked for Geoffrey Shepard. He has claimed that race was never a defining character in his life. In just a few years he reduced the Dimes $1 billion in bad debts to $335 million. 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. While in Hawaii, he also met his future wife, Laura Bush. Richard Dean Parsons was born on April 4, 1948, in Brooklyn, New York. Birthday: April 4, 1948 ( Aries) Born In: New York, New York, United States 1 0 Bankers #114 CEOs #466 Business People #1921 Quick Facts Also Known As: Richard Dean Parsons, Dick Parsons Age: 74 Years, 74 Year Old Males Family: Spouse/Ex-: Laura Bush Parsons children: Gregory Allen Parsons CEOs Bankers Height: 6'4" (193 cm ), 6'4" Males Parsons was accepted by Albany Law School of Union University, New York, where he earned a Juris Doctor in 1971, finishing at the top of his class. When Robert Pittman stepped down as COO in June of 2002, Parsons quickly reorganized the company's top ranks by promoting some of Time Warner's former division chiefs. He skipped a grade in elementary school and another in high school. [1] He was previously the interim CEO of the Los Angeles Clippers NBA franchise. newzjunky louise bartholomew nicole edward. Value is associated with hard work.. Retrieved February 23, 2023 from Encyclopedia.com: https://www.encyclopedia.com/education/news-wires-white-papers-and-books/parsons-richard-dean-1948-0. 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. Encyclopedia.com. In his 11 years with the firm, he made his mark in both corporate law and civil litigation. Parsons later became chairman and CEO[8] and oversaw a merger with Anchor Savings Bank, gaining a substantial sum when the Dime Bank was demutualized. 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. [13] He is chairman of the advisory board of Feigen Advisors, a CEO advisory firm run by Marc Feigen. She is also credited with creating a national initiative called "Ready to Read, Ready to Learn", which promotes reading at a young age. Parsons, who's been married to psychologist Laura Bush for almost 50 years, acknowledges the pain it caused others and still causes him. For example, during his Washington years, the social-minded Parsons was chairman of the Wildcat Service Corporation, an organization that provides job training for people who have difficulty finding work because of past criminal records, addictions, or poverty. By the end of 1999, it was certified as a Texas Superstar which means it will show superior performance under Texas tough growing conditions in the Earth-Kind landscape. In 2000, Parsons guided the merger of Time Warner with America Online (AOL). Though he went into remission after Stem-cell therapy, complications in 2018 caused him to step down from his role as Interim Chairman of the Board of CBS. This degree is awarded by the Board of Regents to individuals distinguished by their national or international reputation or accomplishments in scholarship, public service, profession, industry, or other areas. I know the bank is in good hands.. "The Man Behind the Merger." Broadcasting executive Percy E. Sutton served as Manhattan borough president between 1966 and 1977, Hank Paulson cronin friend betty barb grand cortopassi 11. [6] He skipped a grade in elementary school and another in high school. Parsons graduated from the University of Hawaii and earned his J.D. According to Bush, it was the most logical decision since Parsons enjoyed arguing so much. . Retrieved February 23, 2023 from Encyclopedia.com: https://www.encyclopedia.com/education/news-wires-white-papers-and-books/parsons-richard-dean-1948. [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. DETAILS. Among his clients were such high-profile figures as Happy Rockefeller and the cosmetics queen EsteeLauder. 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. In fact, in 1995 he was key in orchestrating the successful merger between the Dime and Anchor Savings Bank. 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. 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. Retrieved February 23, 2023 from Encyclopedia.com: https://www.encyclopedia.com/general/culture-magazines/parsons-richard. When Rockefeller was appointed Vice President of the United States in 1974, Parsons followed him to Washington, D.C., where he worked directly with Gerald Ford. Newsweek (January 24, 2000): p. 36. [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? Although Richard Dean Parsons regularly makes Fortune magazine's annual list of the most powerful people in business, and he is considered to be one of the most respected African American executives in the country, he came from an average working-class background. Its a venue to which I could see myself returning at some point in time, he told the New York Times in 1994, referring to public service as the highest calling, large and important work.. Decker, Ed "Parsons, Richard Dean 1948 In 2001, United States President George W. Bush selected Parsons to co-chair a commission on Social Security. The Parsons appointment was not without controversy at Time Warner. Contemporary Black Biography. Contemporary Black Biography. In 2004, he was awarded the Better Chance Corporate Award, an annual honor bestowed by the organization A Better Chance, which, according to Hispanic PRWire, "identifies, recruits, and develops leaders among academically gifted students of color." 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. In April 1976 when Kathleen Ryan left the Domestic Council, responsibility for consumer affairs was given to Parsons' office. Skeptics also wondered how Parsons would fare in his new job considering the bank was facing financial ruin. To the rest of the world, they are former President George W. Bush and former first lady Laura Bush, but to Jenna Bush Hager's children . This opportunity with Time Warner is a once in a lifetime one. //. The merger created the fourth largest thrift institution in the nation and the largest on the East Coast, with assets worth $20 billion. Levin, however, felt that Parsons was the right man for the job, and some business insiders were not that surprised. Isidore, Chris. On October 1, 1995, Parsons was appointed president of Time Warner with a salary of several million dollars per year. Parsons was left in control of a bank that was apparently dying. In the May 1975 reorganization, his area of responsibility was divided, and Parsons became associate director for justice, crime, civil rights, and communications (communications was transferred to F. Lynn May in January of 1976). Parsons' responsibilities at Time Warner included corporate finance and legal affairs activities and membership on the board of directors as well as the boards of TriStar Pictures and the Cable Group, American Television, and Communication (now Time Warner Cable). The two met when Bush was still an aimless youth with no real idea of what he would be doing with his life. The position placed him second in command over the entire Time Warner holdings in magazine and book publishing, music, film entertainment, theme parks, and cable television. Apparently it was the right decision. Apparently it was the right decision. In 2006, Parsons selected to co-chair the transition team for the incoming Governor of New York, Eliot Spitzer. Training And Servicing Center. Wall Street Journal, May 8, 1990, p. BIO; January 30, 1995, pp. Although Parsons refused that position, he consented to work as chairman of the citys Economic Development Corporation. (February 23, 2023). Cohen, Adam. 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) . In contrast, he embraced the Rockefeller Republicans' philosophy of equipping a group with skills so they can achieve what they need on their own. True, Parsons had proven to be flexible enough to succeed in the banking world, but he had absolutely no background in media and entertainment. 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. Encyclopedia.com. The bank had suffered a series of losses due to the drastic devaluation of New York City real estate in the late 1980s, and during the previous year it had lost $92.3 million. Contemporary Black Biography. By the mid-1970s Parsons was noted as a rising star among black professionals, and he was profiled inBlack Enterprises Under 30 & Moving Up series in 1975. Decker, Ed; Minderovic, Christine "Parsons, Richard Dean 1948 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. Under his tutelage the bank staged a remarkable comeback, largely through his massive overhauling of the banks management systems and work force. Decker, Ed; Minderovic, Christine "Parsons, Richard Dean 1948 Under President Gerald Ford, Parsons became a senior White House aide and served as a general counsel and an associate director of the Domestic Council. "He is a persuader, not a dictator," a former colleague told CNET News.com. In his 11 years with the firm, he made his mark in both corporate law and civil litigation. Color her surprised! Parsons, who owns a home on Block Island, is a child psychologist. Assistance League Of Chicagoland West: December 2013 alcw95.blogspot.com. Parsons lost no time in putting his years of Washington deal-making into action. The position placed him second in command over the entire Time Warner holdings in magazine and book publishing, music, film entertainment, theme parks, and cable television. He joined the foundation's board of trustees in 2008. Its a statement by and to corporate America that there are no more areas where African Americans havent succeeded, he told the New York Times in 1990. My wife became my focus and the person to whom I owed my best. His plans to become a fighter pilot were redirected to law school largely due to Bushs influence. [CDATA[ Certain corporations come to bear the impress of a sin, 19082007 April 20, 2021, 9:57 AM PDT / Source: TODAY. After attaining her master's degree in library science at the University of Texas at Austin, she was employed as a librarian. Richard Dean "Dick" Parsons was born in Brooklyn, New York. 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 . Former President George W. Bush and his wife, Laura Bush, recently celebrated their 45th wedding anniversary. Detroit, Mich.: Gale Research, 1996. Most online reference entries and articles do not have page numbers. The world's most influential media company, however, was struggling. 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. 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