Apparently it was the right decision. He ruminates for some time before addressing the. Contemporary Black Biography. To the extent that we've lost credibility, repairing it is important." Never. . During that time he also earned the respect of the staff for his fair treatment. In African American Lives. Parsons remained optimistic, but he proceeded cautiously. [3], Parsons was born to an African-American family in Brooklyn, New York City, on April 4, 1948. *Richard Parsons was born on this date in 1948. He serves on the board of several cultural institutions, including the Museum of Modern Art and Lincoln Center. 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 his 11 years with the firm, he made his mark in both corporate law and civil litigation. On May 16, 2001, Parsons replaced Gerald Levin as CEO of the AOL-Time Warner Corporation. Parsons answered these reservations by promising to devote his full attention to his new $525,000-a-year post. Hard work has been a crucial component of the Parsons success story, a value he claims to have learned from his father. Parsons was a bright child with a gift for charming people by telling entertaining stories. O de wurl aint flat,An de wurl aint roun,Hits one long stripHangin up an downJes Souf an Norf;Jes Norf an Souf. Parsons and his staff were responsible for providing advice to the president and formulating domestic policy in the areas of affirmative action, busing, civil rights, communication, consumer affairs, crime, drugs, illegal aliens, Indians, justice, postal service, Puerto Rico, privacy, regulatory reform, sex discrimination, and voting rights. "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. . at the company, and as Gerald Levin's right-hand man. There are a number of other black executives who have elevated positions in corporate America, said Parsons in Black Enterprise. 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. Parsons took on the role of co-COO, sharing the job with Robert Pittman (1953), former president of AOL. 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. 2008 redeem team starting 5; who is sarah davis married to; 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. Parsons' grandfather, Judd, was a groundskeeper on Pocantico, part of the Rockefeller estate, long before Parsons became a protg of Nelson Rockefeller. Retrieved February 23, 2023 from Encyclopedia.com: https://www.encyclopedia.com/education/news-wires-white-papers-and-books/parsons-richard-dean-1948. On October 1, 1995, Parsons was appointed president of Time Warner with a salary of several million dollars per year. McClellan, Steve. In his 11 years with the firm, he made his mark in both corporate law and civil litigation. Parsons became a partner in just two years at Patterson, Belknap, Webb & Tyler, a move that typically demanded seven years. He was one of five children. Peter J. "Can Dick Parsons Rescue AOL Time Warner?" In 1968, Parsons married Laura Ann Bush, a community activist with a doctorate in child psychology, who he met at the University of Hawaii. Encyclopedia.com. After all, Parsons had sat on the company's board of directors for several years, and had developed close ties with top TW executives. 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 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. True, Parsons had proven to be flexible enough to succeed in the banking world, but he had absolutely no background in media and entertainment. When Rudolph Giuliani (1944) was elected mayor of New York in 1993, Parsons headed his transitional council; he served on the transition team when Michael Bloomberg (1942) became the mayor of New York in 2001; and that same year, he was named co-chair of President George W. Bush's Social Security Commission. University of Hawaii System.http://www.hawaii.edu/offices/bor/honorary/php?person=RP (Accessed 2 December 2005). In turn, Time Warner would have unlimited access to the ever-expanding Internet pipeline. Laura Bush Remembers the First Time She Met George and When He Proposed "I knew George was going to ask," the former first lady told The Wall Street Journal. 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. 23 Feb. 2023 . The two met when Bush was still an aimless youth with no real idea of what he would be doing with his life. In the latter post, Parsons focused on drug issues. The announcement surprised many media watchers who expected chief operating officer Robert Pittman to take the helm. During his eleven years with the firm he was successful in both corporate law and civil litigation. As he told Cohen, "Ideally, you want to underpromise and overdeliver. Parsons was chairman of Citigroup from 2009 until 2012. Laura Bush petunia at President George Bushs Crawford Ranch Parsons worked part-time as a janitor to pay his way through the University of Albany Law School in New York, and when he graduated in 1971, it was at the top of his class. . Career: Served as assistant counsel to Governor Nelson Rockefeller, Albany, NY, 1971-74; 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, 1975-77; Patterson, Belknap, Webb & Tyler (law firm), New York, NY, attorney, 1977-88, became partner, 1979; Dime Savings Bank of New York (became Dime Bancorp, 1995), chief operating officer, 1988-90, chairman and chief executive officer, 1990-95; named head of mayor-elect transition council, 1993; served as chairman of New York Citys Economic Development Corporation; Time Warner Inc., president, 1995-99; AOL Time Warner, co-chief operating officer, 1999-2002, AOL Time Warner, CEO, 2002-. 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 Faces Major Test in Unifying AOL Time Warner." DI, D6. Parsons worked at various odd jobs, including in a parking garage and gas company to support himself while at the University of Hawaii. 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. 23 Feb. 2023 . According toEbony, 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., At Union University of the University of Albany Law School, Parsons helped pay his way through school by working part-time as a janitor and later as an aide in the State Assembly. ." He received a juris doctorate from the Union University, University of Albany Law School in 1971. In 1968, Parsons married Laura Ann Bush, a community activist with a doctorate in child psychology, who he met at the University of Hawaii. [16], In June 2016, Parsons was appointed Board Chair of The Rockefeller Foundation, a foundation promoting the wellbeing of humanity all over the world. Errol Garner and Miles Davis are his favorite musicians. [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? The Dimes' nonperforming assets were nearly 11 percent of the total assets by year 1991 in addition to $1 billion in bad debt. Parsons skipped two grades and graduated from high school at the age of sixteen. Cohen, Adam. Parsons, who owns a home on Block Island, is a child psychologist. They have three grown children: Gregory, Leslie and Rebecca. 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. 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. Parsons, who's been married to psychologist Laura Bush for almost 50 years, acknowledges the pain it caused others and still causes him. 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. In fact, in 1995 he was key in orchestrating the successful merger between the Dime and Anchor Savings Bank. Jet (December 24, 2001): p. 6. [13] He is chairman of the advisory board of Feigen Advisors, a CEO advisory firm run by Marc Feigen. Memberships: Member of presidential Drug Task Force; chairman, Wildcat Service Organization. Eds. Parsons joined the Domestic Council staff in March 1975, serving both as legal council and as an associate director. He later attended the University of Hawaii at Manoa, where he played varsity basketball. Credit: Shahar Azran / Contributor. http://www.ford.utexas.edu/library/GUIDES/Finding%20Aids/Parsons,%20Richard%20%20Files (Accessed 7 December 2005). And most CNNMoney.com (December 5, 2001) http://money.cnn.com/2001/12/05/ceos/parsons_profile (accessed on July 29, 2004). [1] He was previously the interim CEO of the Los Angeles Clippers NBA franchise. As associate director, Parsons succeeded Geoffrey Shepard in handling general government, which included justice, treasury, commerce, the postal service, civil rights, and drugs. Parsons was chosen by Mayor Giuliani to head the Transition Council and later in 1993 to be the deputy mayor for economic development. Some predicted a future in politics for Parsons. 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, Then, they dont value it. 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. Former President George W. Bush and his wife, Laura Bush, recently celebrated their 45th wedding anniversary. "Richard D. Parsons Named New CEO of AOL Time Warner." They credit him with keeping employees informed every step of the way, producing videos for employee distribution. In Contemporary Black Biography. cronin friend betty barb grand cortopassi Parsons graduated from the University of Hawaii and earned his J.D. 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. You cant give something to somebody to have, said Parsons in the same article. 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.. He also expanded his web of connections, taking on such high-profile clients as Happy Rockefeller (1926), the widow of Nelson Rockefeller, and cosmetics giant Este Lauder. Bianco, Anthony, and Tom Lowry. Kathleen Ryan served as an assistant to Parsons for a few weeks after she joined the Domestic Council in April, 1975. "That's what makes you different from your competition," he maintains. [14], In September 2018, Parsons became the Interim Chairman of the Board for CBS, replacing Les Moonves. Left to my own devices, I dont feel any compulsion to strive, he told the New York Times in 1990. 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. [27][28][29] Being of Liberian ethnicity, Cooper founded the MacDella Cooper Foundation in 2004 to help orphans and abandoned children in Liberia following the Second Liberian Civil War. Parsons began his career working as a lawyer and counsel for former New York governor Nelson Rockefeller. Parsons was accepted by Albany Law School of Union University, New York, earning a Juris Doctor in 1971, finishing at the top of his class. 23 Feb. 2023 . [22] Parsons, however, repeatedly denied the reports,[23] supported Mayor Bloomberg's efforts to repeal the term limits law, and supported Bloomberg for a third term in office. "[11] In December 2001, it was announced that Levin would retire and Parsons had been selected as his successor. Lauren Bush in New York Bush was signed with Elite Model Management before launching FEED. Parsons was accepted by Albany Law School of Union University, New York, earning a Juris Doctor in 1971, finishing at the top of his class. Parsons also had to deal with an onslaught of unhappy regulators. 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. (February 23, 2023). "Can Dick Parsons Rescue AOL Time Warner?" Retrieved February 23, 2023 from Encyclopedia.com: https://www.encyclopedia.com/education/news-wires-white-papers-and-books/parsons-richard-dean-1948-0. Newsweek (January 24, 2000): p. 36. Value is associated with hard work.. In addition, any time that trouble reared its head over regulatory issues in Washington, Parsons came to the rescue by turning to one of his many political contacts. The most he did at the time was to learn to . 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. Parsons also worked on the transition team for Michael Bloomberg, who was elected Mayor of New York City in 2001. The Economicst (April 19, 2003). 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. [9] In 1988, he was recruited to serve as chief operating officer of the Dime Savings Bank of New York by CEO Harry W. Albright Jr., who was a former Rockefeller aide. As one AOL shareholder told Business Week, "Dick is the right guy to be running the company right now." ." Notable Black American Men, Book II. Meanwhile, he answered complaints from colleagues at the Dime that he was deserting them. In 2003, Parsons made the announcement of the name change from AOL Time Warner to simply Time Warner. 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 Dl, D6. "I didn't have to think twice about it. 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. In a December 2001 press conference, Levin stunned the industry when he named Parsons as AOL Time Warner's next CEO. 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. 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. It also brought Parsons to the attention of high-ranking people who later sought his services. ." . They have three grown children. He quickly became a star in the firm and in just two years was named partner. In 2009, he had a child with model-philanthropist MacDella Cooper due to an extra-marital affair. Parsons, 66, has been married for 35 years to his wife Laura, 67. 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. "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. Parsons and his wife Laura own a vineyard in Montalcino, Italy. Listen to article. Parsons later became Chairman and CEO and oversaw a merger with Anchor Savings Bank. President Ford also used his services, first as a general. Retrieved February 23, 2023 from Encyclopedia.com: https://www.encyclopedia.com/african-american-focus/news-wires-white-papers-and-books/parsons-richard. 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. As a result, Dime Bancorp became the largest thrift institution on the East Coast and the fourth largest in the United States. 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. 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 . This opportunity with Time Warner is a once in a lifetime one. According to Bush, it was the most logical decision since Parsons enjoyed arguing so much. Fortune (August 8, 2004). Richard Dean Parsons was born on April 4, 1948, in Brooklyn, New York. 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. Many, however, questioned the appointment since Parsons had no real experience in the banking industry. Financial Times, December 8, 2001, p. 13. from Ariel Williams Holloway, Northboun' , 1926, NORTHBOUND' by Ariel Williams Holloway, Street Team INNW, St. Paul, The Tullahassee Mission, and School Opens, An Act for The Gradual Abolition Of Slavery is Passed, Steven Barnes, Science Fiction Writer born, St. Phillips College, (Texas) Begins Classes, Joseph Brant, Slave Owner, and Military Officer born, Americas Articles of Confederation Are Enacted, Court Rules to Desegregate Education in California, Harry Belafonte, Entertainer, and Activist born, The State of Pennsylvania Abolishes Slavery. 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. Made his mark laura bush parsons both corporate law and civil litigation Dick Parsons Rescue AOL Time Warner? to Bushs.! York City in 2001 was key in orchestrating the successful merger between the Dime and Anchor Savings Bank States... 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