Parsons, however, was an extremely bright young man, who went on to graduate from high school when he was just sixteen years old. Richard Dean Parsons was born on April 4, 1948, in Brooklyn, New York. Beginning his legal career as an aide on New York governor Nelson Rockefellers legal staff, Parsons made a very favorable impression on the governor. As a result, the company struggled to maintain its credibility, its stock prices tumbled, and it faced $27 billion in debt. Parsons, 66, has been married for 35 years to his wife Laura, 67. 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 became the first African American male to manage a financial institution of Dime's size and reduce the bank's debt from $1 billion to $335 million. Memberships: Member of presidential Drug Task Force; chairman, Wildcat Service Organization. After attaining her master's degree in library science at the University of Texas at Austin, she was employed as a librarian. "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. Notable Black American Men, Book II. He also serves as chairman of the Upper Manhattan Empowerment In 1994, Gerald Levin (1939), chairman of Time Warner (TW), openly recruited Parsons to take over as president of the company. Join Facebook to connect with Laura Parsons and others you may know. Landler, Mark "Watch Your Back, Mr. Parsons" Business Week (14 November 1994): 38-39. Kathleen Ryan served as an assistant to Parsons for a few weeks after she joined the Domestic Council in April, 1975. Parsons assumed his post as president of Time Warner in January of 1995, a job that came with a reported multi-million dollar salary. I know the bank is in good hands.. Parsons also served as chairman of the Apollo Theater Foundation, Inc. and sat on the boards of several arts, educational, and commercial organizations, including the Metropolitan Museum of Art, Citigroup, and Este Lauder, Inc. Parsons served as trustee of numerous Rockefeller entities, including one that holds stock in all of the family businesses. The conglomerate was also saddled with significant debt. After taking on the job of chairman and chief executive officer (CEO) of the Dime in 1990, Parsons continued to set the bank on its comeback course. The two met when Bush was still an aimless youth with no real idea of what he would be doing with his life. "Getting your team together is the more important thing." Although Parsons refused that position, he consented to work as chairman of the citys Economic Development Corporation. [CDATA[ In 2003 the University of Hawaii awarded Parsons the honorary doctor of humane letters degree. He received a B.A. ." 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. 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. Because each style has its own formatting nuances that evolve over time and not all information is available for every reference entry or article, Encyclopedia.com cannot guarantee each citation it generates. ." "Reeling Like a Bad Movie: AOL Time Warner." As one AOL shareholder told Business Week, "Dick is the right guy to be running the company right now." Encyclopedia.com. He stepped down as CEO of Time Warner on December 31, 2007. View the profiles of people named Laura Parsons. Parsons remained optimistic, but he proceeded cautiously. 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. Former President George W. Bush and his wife, Laura Bush, recently celebrated their 45th wedding anniversary. Certain corporations come to bear the impress of a sin, 19082007 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. "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. degree from Union University's Albany Law School in 1971. 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. Never. Parsons also remained a committed leader in other areas of public and community service. Parsons was a member of the economic advisory team for President Barack Obama in 2008. The Parsons appointment was not without controversy at Time Warner. In doing so, he became the first African American to head a lending institution of such proportion. Encyclopedia.com. https://www.encyclopedia.com/education/news-wires-white-papers-and-books/parsons-richard-dean-1948, Decker, Ed "Parsons, Richard Dean 1948 Pick a style below, and copy the text for your bibliography. Parsons worked at various odd jobs, including in a parking garage and gas company to support himself while at the University of Hawaii. With a calm, cool-headed resolve, he doggedly tackled the problems that lay ahead. 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. His involvement with Time Warner resulted in his developing close ties with important company executives such as Robert W. Morgado, the chairman of the Warner Music Group, and Michael J. Fuchs, chairman of HBO. 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. . Contemporary Black Biography. Assistance League Of Chicagoland West: December 2013 alcw95.blogspot.com. Contemporary Black Biography. 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. For the next six years, he served as the number-two executive 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 was also in charge of the legal department and human resources. "Richard Dean Parsons." "Richard Parsons: Profile." Some predicted a future in politics for Parsons. Greater Minneapolis-St. Paul Area. Meanwhile, he answered complaints from colleagues at the Dime that he was deserting them. Hispanic PRWire (June 11, 2004) http://www.hispanicprwire.com/news_in.php?id=2478&cha=6&PHPSESSID (accessed on July 31, 2004). In 2001 Parsons was named the successor to AOL Time Warners CEO, Gerald Levin, who was retired in May of 2002. Bl, B3. Parsons is due to mark his 31st wedding anniversary with his wife, the former Laura Ann Bush, in August. X. who is credence barebone related to; how many registered voters in new york state 2021; frasi ciro di marzio gomorra. Black Enterprise, October 1994, pp. According to Bush, it was the most logical decision since Parsons enjoyed arguing so much. Parsons skipped two grades and graduated from high school at the age of sixteen. 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. With the bank on solid ground, Parsons set his sights on a new enterprise. Newzjunky - JCC Releases President's And Dean's Lists For Fall 2013 m.facebook.com. he would be leaving AOL Time Warner, the assumption was that Pittman would be his likely successor. Parsons became chairman emeritus of the Partnership for New York City,[19] established by David Rockefeller in 1979,[20] who has known him for many years. 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. 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. With the bank now on solid financial ground, he engineered a merger with Anchor Savings Bank to create Dime Bancorp in early 1995. Over the years Parsons has, however, admitted the possibility of entering politics later in life. Employees: 14,500 Mayor Giuliani later asked Parsons to become his 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. 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. 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. Three years later, in 1991, on the recommendation of Nelson's brother Laurance Rockefeller to the then CEO Steve Ross, Parsons was invited to join Time Warner's board; he subsequently became president of the company in 1995, recruited by chief executive Gerald Levin. Among his clients were such high-profile figures as Happy Rockefeller and the cosmetics queen Estee Lauder. Levin had been in negotiations with Steve Case (1958), AOL's CEO, for several years. It also brought Parsons to the attention of high-ranking people who later sought his services. 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. 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. Hu, Jim. 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. 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. Parsons began his career working as a lawyer and counsel for former New York governor Nelson Rockefeller. His journey to future success was given some impetus by his girlfriend at the time, Laura Bush, who became his wife in 1968. In 1999, when AOL and Time Warner merged, parsons became the co-chief operating officer, a position shared with Bob Pittman. He also earned staff respect at Dime with his fair treatment of personnel. Parsons met Laura, a. [15], In 2007, Parsons became the chairman of the board of directors of the Jazz Foundation of America. Errol Garner and Miles Davis are his favorite musicians. Wall Street Journal, May 8, 1990, p. B10; January 30, 1995, pp. [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. 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. Regardless, Parsons is consistently applauded by various groups for the inspiration he provides to young people everywhere. Laura Bush petunia at President George Bushs Crawford Ranch Hayden, Thomas. Dr. Larry Stein, another Extension horticulturist, has added further to the color scale with a glowing Purple Laura Bush. The Economicst (April 19, 2003). Apparently it was the right decision. [2] On October 21, 2018, he resigned for health reasons from CBS and was replaced by Strauss Zelnick. 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. [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. As he once told the New York Times, as reported by CNNMoney.com, "For a lot of people race is a defining issue. They have three grown children: Gregory, Leslie, and Rebecca. Parsons joined the Domestic Council staff in March 1975, serving both as legal council and as an associate director. In 2003, Parsons announced the name change from AOL Time Warner to Time Warner. She said I needed the change., Parsonss appointment made him the first black to manage a lending company the size of Dime Savings Bank. Then, they dont value it. In African American Lives. Notable Black American Men, Book II. "Can a Nice Guy Run This Thing?" Named president of Dime Savings Bank of New York in 1988 even though he had no previous experience in the banking industry, he masterminded a turnaround at the bank in just a few years. 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. 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. "Parsons, Richard In contrast, he embraced the Rockefeller Republicans' philosophy of equipping a group with skills so they can achieve what they need on their own. 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. In addition to his work for Rockefeller and the Ford administration, the lawyer-turned-banker-turned media executive served in various political roles throughout his career. 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. 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. Critical to the next chapter in the Parsons success story was his work with the Dimes Saving Bank of New York, which he provided with legal counsel for about six years while with Patterson, Belknap, Webb & Tyler. [21], In August 2006, an article in New York Magazine reported that Parsons would likely run for Mayor of New York City in the 2009 New York mayoral election. Encyclopedia.com. Henry Louis Gates Jr. New York: Oxford University Press, 2004. Governor Rockefeller rewarded Parsonss solid performance by keeping him on his staff when he became vice president under President Gerald Ford in 1974. 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 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. Parsons became a partner in just two years at Patterson, Belknap, Webb & Tyler, a move that typically demanded seven years. Broadcasting & Cable (July 28, 2003): p. 8. During that time he also earned the respect of the staff for his fair treatment. 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. In a Black Enterprise article, Fonda Marie Lloyd and Mark Lowery stated that "colleagues say Parsons' management style helped smooth painful layoffs (two thousand of the four thousand employees) that he had to make." Parsons graduated from the University of Hawaii and earned his J.D. 1946 "It's a collaboration," he told Anthony Bianco and Tom Lowry of Business Week. This political stance was consistent with his rejection of the Democrats philosophy. Eds. 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. On May 16, 2001, Parsons replaced Gerald Levin as CEO of the AOL-Time Warner Corporation. ." In 2003, Parsons made the announcement of the name change from AOL Time Warner to simply Time Warner. 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. 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. "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 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. "He intellectualizes outcomes and gets people to agree with his outcomes." They credit him with keeping employees informed every step of the way, producing videos for employee distribution. Encyclopedia.com gives you the ability to cite reference entries and articles according to common styles from the Modern Language Association (MLA), The Chicago Manual of Style, and the American Psychological Association (APA). In his spare time he enjoys shooting pool and listening to music. I exist apart from this job.". "I didn't have to think twice about it. 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. In 1988, he was recruited to serve as a chief operating officer of the Dime Savings Bank of New York. As counsel to the Domestic Council, he worked closely with the Counsel to the President in providing legal guidance in the formulation of domestic policy. April 20, 2021, 9:57 AM PDT / Source: TODAY. He was born on April 4, 1948, in the Bedford-Stuyvesant section of Brooklyn, New York, and was raised in the New York borough of Queens. He also set out to streamline the bank's operations. Within the Cite this article tool, pick a style to see how all available information looks when formatted according to that style. [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? agreed that friendly giant Richard Parsons had been just what the fractured titan needed. President Ford also used his services, first as a general. 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. Lauren Bush in New York Bush was signed with Elite Model Management before launching FEED. Los Angeles Times, January 13, 2001, p. C1; December 6, 2001, p. C1. //