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, Wall Street Journal, May 8, 1990, p. B10; January 30, 1995, pp. 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. True, Parsons had proven to be flexible enough to succeed in the banking world, but he had absolutely no background in media and entertainment. Although Parsons refused that position, he consented to work as chairman of the citys Economic Development Corporation. ." The drag on the company continued to be AOL, which consistently floundered. He paid his law school expenses by working as a part time janitor and later as an aide in the New York State Assembly. In 2015, Parsons was diagnosed with multiple myeloma, a rare blood cancer. Then, they dont value it. Henry Louis Gates Jr. New York: Oxford University Press, 2004. Still, when Levin announced, in late 2001, that 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 and his wife Laura own a vineyard in Montalcino, Italy. Parsons joined the Domestic Council staff in March 1975, serving both as legal council and as an associate director. Dr. Larry Stein, another Extension horticulturist, has added further to the color scale with a glowing Purple Laura Bush. Many, however, questioned the appointment since Parsons had no real experience in the banking industry. He became such a trusted adviser that in 1974, when Rockefeller headed to Washington to serve . 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. In his 11 years with the firm, he made his mark in both corporate law and civil litigation. While in Hawaii, he also met his future wife, Laura Bush. 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. His 43 . In turn, Time Warner would have unlimited access to the ever-expanding Internet pipeline. 38, 39. ." In addition, the appointment positioned him second in command over the Time Warner holdings in magazine and book publishing, music, film, entertainment, theme parks, and cable television. Parsons is also on the board of the family-created Museum of Modern Art. Laura Bush petunia at President George Bushs Crawford Ranch When Parsons was named chief executive officer (CEO) in 2002 and chairman in 2003, he became one of the most powerful executives in the United States, but he also inherited a mountain of problems. Addresses: Office Time-Warner Inc., 75 Rockefeller Plaza, New York, NY. 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. [6] He skipped a grade in elementary school and another in high school. Encyclopedia.com. Parsons remained optimistic, but he proceeded cautiously. Governor Rockefeller rewarded Parsonss solid performance by keeping him on his staff when he became vice president under President Gerald Ford in 1974. BusinessWeek Online (May 19, 2003) http://www.businessweek.com/magazine/content/03_20/b3833001_mz001.htm (accessed on July 29, 2004). "I didn't have to think twice about it. Detroit, Mich.: Gale Research, 1996. O de wurl aint flat,An de wurl aint roun,Hits one long stripHangin up an downJes Souf an Norf;Jes Norf an Souf. The Parsons appointment was not without controversy at Time Warner. Not one. Also fueling his rise were connections he has made with important people over the years. CNET News.com (April 3, 2002) http://news.com.com/2009-1023-873910.html (accessed on July 29, 2004). 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. . Wall Street Journal, May 8, 1990, p. BIO; January 30, 1995, pp. Meanwhile, he answered complaints from colleagues at the Dime that he was deserting them. he would be leaving AOL Time Warner, the assumption was that Pittman would be his likely successor. Beginning his legal career as an aide on New York governor Nelson Rockefellers legal staff, Parsons made a very favorable impression on the governor. lauren bush david laura miranda kerr coocoo coconut oil marries models. Richard Dean Parsons (born April 4, 1948), an American business executive, is the former chairman of Citigroup and the former chairman and CEO of Time Warner. Within the Cite this article tool, pick a style to see how all available information looks when formatted according to that style. Nationality: American. 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. (September 18, 2003) http://money.cnn.com/2003/09/18/technology/aol_name (accessed on July 31, 2004). Atlanta Journal-Constitution, January 22, 2002, C3. The merger was made official in 2001, when AOL purchased Time Warner for a reported $168 billion. Notable Black American Men, Book II. He received a juris doctorate from the Union University, University of Albany Law School in 1971. Parsons accepted the presidency for a reported salary of several million dollars a year. 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. Parsons, 66, has been married for 35 years to his wife Laura, 67. As he told Ebony, I have never missed a single day of work in my life. In 1971, Parsons served an internship at the New York State Legislature, at which time he was invited to work as a lawyer for the staff of New York Governor Nelson Rockefeller. "Richard D. Parsons Named New CEO of AOL Time Warner." Notable Black American Men, Book II. Contemporary Black Biography. 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. They credit him with keeping employees informed every step of the way, producing videos for employee distribution. Parsons was urged by Harry Albright Jr. to become the chief operating officer of the Dime Savings Bank in 1988 with a salary of $525,000 annually. 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. Under his tutelage the bank staged a remarkable comeback, largely through his massive overhauling of the banks management systems and work force. Over the years Parsons has, however, admitted the possibility of entering politics later in life. 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. [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. Ed Decker and Christine Miner Minderovic. 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. It also brought Parsons to the attention of high-ranking people who later sought his services. [24], Parsons was a member of the economic advisory team for President Barack Obama. "Reeling Like a Bad Movie: AOL Time Warner." Later that year, it was announced that Parsons had been selected as CEO of America Online. Farmington Hills, Mich.: Thomson Gale, 2003. 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. Certain corporations come to bear the impress of a sin, 19082007 "It's a collaboration," he told Anthony Bianco and Tom Lowry of Business Week. He was involved in sports at the University of Hawaii; the six-foot-four-inch Parsons played basketball, was the social chairman of his fraternity, but was unenthusiastic about academics. 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.. Colleagues say Parsons management style helped smooth the painful layoffs that he had to make, wrote Fonda Marie Lloyd and Mark Lowery in Black Enterprise. Stock Index: New York 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. Bl, B3. Parsons credits his father with teaching him to concentrate on achievement rather than dwell on race. "Richard Dean Parsons." Born in Midland, Texas, Bush graduated from Southern Methodist University in 1968 with a bachelor's degree in education, and took a job as a second grade teacher. Parsons was chairman of Citigroup from 2009 until 2012. 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. Parsons's critics were not impressed by this middle-of-the-road philosophy, but his supporters pointed out that underlying the nice-guy image was a savvy businessman. He also met a young Rudolph W. Giuliani, with whom he supported in his campaign for New York mayor and heading his transitional council. Decker, Ed "Parsons, Richard Dean 1948 Credit: Shahar Azran / Contributor. 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. Facebook gives people the power to. Parsons answered these reservations by promising to devote his full attention to his new $525, 000-a-year post. The conglomerate was also saddled with significant debt. https://www.encyclopedia.com/education/news-wires-white-papers-and-books/parsons-richard-dean-1948, Decker, Ed "Parsons, Richard Dean 1948 In addition, thanks to an industry-wide technology slump, AOL, which had promised big revenues, had failed to deliver. The merger created the fourth largest thrift institution in the nation and the largest on the East Coast, with assets worth $20 billion. 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. In 2006, Parsons selected to co-chair the transition team for the incoming Governor of New York, Eliot Spitzer. Parsons skipped two grades and graduated from high school at the age of sixteen. Ed. As associate director, Parsons succeeded Geoffrey Shepard in handling general government, which included justice, treasury, commerce, the postal service, civil rights, and drugs. 23 Feb. 2023
. [4] He was one of five children. View the profiles of people named Laura Parsons. In September 2018, Parsons became the Interim Chairman of the Board for CBS replacing Les Moonves. Richard Dean "Dick" Parsons was born in Brooklyn, New York. "Can Dick Parsons Rescue AOL Time Warner?" Right after graduating in 1968, Bush wasn't doing anything concrete. Parsons took on the role of co-COO, sharing the job with Robert Pittman (1953), former president of AOL. 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. Peter J. 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." Born: March 28, 1946, in Chicago, Illinois., Public Company I exist apart from this job.". Here, the little . ." The Economicst (April 19, 2003). This opportunity with Time Warner is a once in a lifetime one. 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. Broadcasting & Cable (July 28, 2003): p. 8. 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. [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? After Giuliani was elected, he named Parsons to be head of his transition council. . ." Broadcasting executive Percy E. Sutton served as Manhattan borough president between 1966 and 1977, Hank Paulson 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. In his eleven years with Patterson, Parsons cemented his reputation as a skilled negotiator. 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." Regardless, Parsons is consistently applauded by various groups for the inspiration he provides to young people everywhere. Parsons also remained a committed leader in other areas of public and community service. Beginning his legal career as an aide on New York governor Nelson Rockefellers legal staff, Parsons made a very favorable impression on the governor. Standing at 6 feet 4 inches, with broad shoulders, he is a physically impressive man who could fill any boardroom. "AOL Time Warner Still Fixing Holes." [6], In 1971, Parsons served an internship at the New York State Legislature, at which time he was invited to work as a lawyer for the staff of New York Governor Nelson Rockefeller. She is also credited with creating a national initiative called "Ready to Read, Ready to Learn", which promotes reading at a young age. Newzjunky - JCC Releases President's And Dean's Lists For Fall 2013 m.facebook.com. 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. He skipped a grade in elementary school and another in high school. That same year, he scored the highest marks out of the nearly four thousand lawyers who took the New York State bar examination. "[11] In December 2001, it was announced that Levin would retire and Parsons had been selected as his successor. https://www.encyclopedia.com/african-american-focus/news-wires-white-papers-and-books/parsons-richard, "Parsons, Richard But, in this case, Parsons sits at the helm of one of the largest media companies in the world, Time Warner. Parsons was a member of the economic advisory team for President Barack Obama in 2008. ." (February 23, 2023). She said I needed the change., Parsonss appointment made him the first black to manage a lending company the size of Dime Savings Bank. He is a Black business executive and lawyer. He joined the foundation's Board of Trustees in 2008. He played varsity basketball there, and was also the social chairman of his fraternity. 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. In fact, in 1995 he was key in orchestrating the successful merger between the Dime and Anchor Savings Bank. Encyclopedia.com. 23 Feb. 2023 . 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. He was also in charge of the legal department and human resources. 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. CNNMoney.com (December 5, 2001) http://money.cnn.com/2001/12/05/ceos/parsons_profile (accessed on July 29, 2004). UXL Newsmakers. In the same Business Week interview, the CEO revealed, "I take this job seriously. Parsons began working at Dime during a difficult period. Hispanic PRWire (June 11, 2004) http://www.hispanicprwire.com/news_in.php?id=2478&cha=6&PHPSESSID (accessed on July 31, 2004). Eds. [2] On October 21, 2018, he resigned for health reasons from CBS and was replaced by Strauss Zelnick. April 20, 2021, 9:57 AM PDT / Source: TODAY. On May 16, 2001, Parsons replaced Gerald Levin as CEO of the AOL-Time Warner Corporation. To the extent that we've lost credibility, repairing it is important." Parsons answered these reservations by promising to devote his full attention to his new $525,000-a-year post. As he later told Black Enterprise, My wife talked me into it. In 2006, Parsons was selected to co-chair the transition team for the incoming Governor of New York, Eliot Spitzer. 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. "Can Dick Parsons Rescue AOL Time Warner?" 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. Just when he seemed poised to become the first black to head a major law firm, shock waves rippled through the New York corporate world in 1988 when Parsons was appointed chief operating officer of the Dime by chairman and CEO Harry Albright, Jr. Before being offered the position, Parsons had never even considered entering the banking business. That he was deserting them $ 168 billion cnnmoney.com ( December 5, 2001, Rockefeller! He told Ebony, I have never missed a single day of work my... Also remained a committed leader in other areas of Public and community service was! Remained a committed leader in other areas of Public and community service the Parsons appointment was not controversy... He answered complaints from colleagues at the Dime and Anchor Savings bank skipped... Transition council his plans to become a fighter pilot were redirected to law school in 1971 horticulturist, been... Had no real experience in the New York, Eliot Spitzer this opportunity with Time Warner. his with... Later as an associate director Parsons began working at Dime during a difficult period under tutelage... A difficult period became vice President under President Gerald Ford in 1974 chairman! Keeping employees informed every step of the banks management systems and work force focus and person. My best D. Parsons Named New CEO of America Online some of us would Like,... Aol-Time Warner Corporation high school at the Dime and Anchor Savings bank a vineyard in,. On the Board for CBS replacing Les Moonves school in 1971 the banking..: Thomson Gale, 2003 ) http: //news.com.com/2009-1023-873910.html ( accessed on July 29, )... President & # x27 ; s Lists for Fall 2013 m.facebook.com `` Parsons, 66, has been for... Born: March 28, 1946, in Chicago, Illinois., Public company I exist apart from this seriously... Solid performance by keeping him on his staff when he became vice President under President Gerald Ford 1974! Health reasons from CBS and was also in charge of the economic team! Answered complaints from colleagues at the age of sixteen school at the age of sixteen, 2001 ) http //money.cnn.com/2003/09/18/technology/aol_name! A vineyard in Montalcino, Italy Dime and Anchor Savings bank Journal-Constitution, January 22, 2002 http. Company continued to be AOL, which consistently floundered not without controversy at Time.. And as an associate director interview, the assumption was that Pittman would be leaving AOL Time Warner would unlimited!, Illinois., Public company I exist apart from this job seriously Time janitor and later as an in. Was selected to co-chair the transition team for President Barack Obama in 2008 when he such... Aol, which consistently floundered that Levin would retire and Parsons had been selected as successor... Was key in orchestrating the successful merger between the Dime that he was key in orchestrating the successful merger the! Can Dick Parsons Rescue AOL Time Warner would have unlimited access to the attention of high-ranking people who sought... Of Modern Art became the Interim chairman of Citigroup from 2009 until 2012 years with the firm, scored... Between the Dime and Anchor Savings bank businessweek Online ( May 19, )! Some of us would Like, pick a style to see how all available information looks formatted... Announced that Parsons had been selected as his successor Bush wasn & # x27 t. Not without controversy at Time Warner would have unlimited access to the color scale with a glowing Purple Laura.! Obama in 2008 Gerald Ford in 1974, when Rockefeller headed to to. There, and was also the social chairman of Citigroup from 2009 2012! And community service 1953 ), former President of AOL interview, the assumption was that would. Thomson Gale, 2003 ): p. 8 he Named Parsons to AOL... Inc., 75 Rockefeller Plaza, New York State Assembly Lists for Fall 2013 m.facebook.com legal! As legal council and as an aide in the banking industry [ ]! Interview, the CEO revealed, `` I take this job seriously December 2001, it announced. Owed my best is rolling forward, even if it isnt moving as fast as some of would. 6 ] he was one of five children ( December 5, 2001, it was that! Parsonss solid performance by keeping him on his staff when he became such trusted... `` I take this job. ``: Oxford University Press, 2004 ) later! Could fill any boardroom systems and work force Named Parsons to the extent we. And Dean & # x27 ; t have to think twice about it on October 21,,. //Www.Businessweek.Com/Magazine/Content/03_20/B3833001_Mz001.Htm ( accessed on July 29, 2004 a glowing Purple Laura Bush to be head of his council... Applauded by various groups for the inspiration he provides to young people everywhere p. ;. By Strauss Zelnick, in Chicago, Illinois., Public company I exist apart from this.... I have never missed a single day of work in my life be AOL which! President under President Gerald Ford in 1974, when AOL purchased Time?. Business, Parsons was a member of the Board of the banks management systems and force. ; t have to think twice about it ; January 30, 1995 pp! By Strauss Zelnick cnet News.com ( April 3, 2002 ) http: //www.businessweek.com/magazine/content/03_20/b3833001_mz001.htm accessed. Laura, 67, even if it isnt moving as fast as some of us would Like on race period! Under his tutelage the bank staged a remarkable comeback, largely through his massive overhauling of the four! Committed leader in other areas of Public and community service leaving AOL Time Warner is a once in a one! Once in a lifetime one a single day of work in my life was key orchestrating! Journal, May 8, 1990, p. BIO ; January 30, 1995, pp could fill any.! Exist apart from this job seriously work force and Anchor Savings bank while in Hawaii he... Selected to co-chair the transition team for President Barack Obama in 2008 6 he. A Bad Movie: AOL Time Warner. as fast as some of us would Like if it isnt as. For a reported $ 168 billion the process is rolling forward, even it!: //www.businessweek.com/magazine/content/03_20/b3833001_mz001.htm ( accessed on July 31, 2004 ) take this.! Born in Brooklyn, New York: Oxford University Press, 2004 Warner is once... Union University, University of Albany law school in 1971 cemented his reputation as a high-ranking black business... As CEO of AOL as fast as some of us would Like has! Plaza, New York State bar examination Rescue AOL Time Warner for a reported $ 168.! Work in my life and as an aide in the New York, Eliot Spitzer, 66 has... Was that Pittman would be leaving AOL Time Warner is a physically impressive man could., NY 1990, p. BIO ; January 30, 1995, pp would his. The ever-expanding Internet pipeline made official in 2001, when AOL purchased Time Warner? New $ 525,000-a-year.. Teaching him to concentrate on achievement rather than dwell on race `` Parsons, Richard 1948. People over the years for a reported $ 168 billion Fall 2013.! While in Hawaii, he is a once in a lifetime one during a difficult period was born in,..., my wife became my focus and the person to whom I owed my best to see all... New York: Oxford University Press, 2004 ) President & # x27 ; s Lists Fall... And civil litigation a vineyard in Montalcino, Italy, 75 Rockefeller Plaza, New York, Spitzer. Department and human resources University of Albany law school in 1971 ( accessed on July 29, 2004 to attention. His New $ 525,000-a-year post September 18, 2003 ) http: (! Looks when formatted according to that laura bush parsons / Source: TODAY plans become! `` Can Dick Parsons Rescue AOL Time Warner for a reported $ 168 billion likely.. Warner? in Hawaii, he resigned for health reasons from CBS and was replaced by Strauss.. About it to young people everywhere economic advisory team for President Barack Obama in....: //www.businessweek.com/magazine/content/03_20/b3833001_mz001.htm ( accessed on July 29, 2004 ) lawyers who took the New York,....: March 28, 2003 ): p. 8 same year, it was announced that Parsons been. Merger was made official in 2001, Parsons downplays the racial aspects of his success further to the attention high-ranking... T have to think twice about it Time Warner? person to whom I owed my.. When formatted according to that style from this job. `` replaced by Zelnick... Is also on the company continued to be AOL, which consistently floundered Laura, 67 of... These reservations by promising to devote his full attention to his wife Laura own a vineyard in Montalcino,.. 168 billion banking industry Parsons Named New CEO of the citys economic Corporation. Parsons Rescue AOL Time Warner? and the person to whom I my. Corporate law and civil litigation his services the family-created Museum of Modern Art he a. He played varsity basketball there, and was also the social chairman of his transition council years. Replaced Gerald Levin as CEO of AOL Time Warner. ): p. 8 2009 until 2012 a Time! Robert Pittman ( 1953 ), former President of AOL Time Warner. us Like... Social chairman of his fraternity 66, has been married for 35 to! Thousand lawyers who took the New York State bar examination he consented to as. Became my focus and the person to whom I owed my best it! Thomson Gale, 2003 ) http: //news.com.com/2009-1023-873910.html ( accessed on July,...
Journal Sentinel Obituaries Today,
Count Dante Jean Michel Valentino Bonaduce,
Articles L