Wall Street Journal, May 8, 1990, p. BIO; January 30, 1995, pp. "The Man Who Keeps the Peace: AOL Time-Warner's Richard Parsons." 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." Henry Louis Gates Jr. New York: Oxford University Press, 2004. Business Week Online.http://www.buisnessweek.com/magazine/content/03_20/b3833001_m2001.htm (Accessed 2 December 2005). Parsons also remained a committed leader in other areas of public and community service. Training And Servicing Center. 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." Apparently it was the right decision. His maternal grandfather had been head groundskeeper at the John D. Rockefeler estate, Kykuit. Contemporary Black Biography. ", "15 years later, lessons from the failed AOL-Time Warner merger", "Sir Win Bischoff to leave early from chairmanship of Citigroup", "Citi Chairman Is Said to Have Planned Chief's Exit Over Months (Published 2012)", "Richard Parsons resigns as CBS chairman due to complications from cancer", "Richard Parsons to Become Chairman of Rockefeller Foundation", "Richard D. Parsons The Rockefeller Foundation", Partnership Members Assist Spitzer Transition Team, "Time Warner Chairman Richard Parsons Says He Won't Run for Mayor New York Magazine", "Ex-Time Warner chairman named interim Clippers CEO", "Love tangle for power broker: Citigroup's Richard Parsons has love child with model MacDella Cooper", "How Time Warner's Former CEO Is Helping Democratize Cancer Research", "Richard Parsons Steps Down as Interim Chairman of CBS", https://en.wikipedia.org/w/index.php?title=Richard_Parsons_(businessman)&oldid=1138654142, This page was last edited on 10 February 2023, at 21:13. Apparently it was the right decision. 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. (February 23, 2023). Richard Dean "Dick" Parsons was born in Brooklyn, New York. 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. [6] He later attended the University of Hawaii at Manoa, where at 6'4" tall he may have played varsity basketball. Parsons became a board member for Time Warner, Inc., Phillip Morris, Tristar Pictures, Harvard University, and the Metropolitan Museum of Art. (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. He was again entering an industry that was new to him, and some doubted his qualifications. 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. Levin, however, felt that Parsons was the right man for the job, and some business insiders were not that surprised. Parsons, however, was an extremely bright young man, who went on to graduate from high school when he was just sixteen years old. Niece of George W. Bush, Laura Bush, Doro Bush, Marvin Bush and Jeb . Jet (December 24, 2001): p. 6. L. Mpho Mabunda and Shirelle Phelps. "Richard D. Parsons Named New CEO of AOL Time Warner." Parsons also had to deal with an onslaught of unhappy regulators. Then, they dont value it. But, in this case, Parsons sits at the helm of one of the largest media companies in the world, Time Warner. New York Times, May 8, 1990, p. D5; August 26, 1990, p. D5; July 7, 1994, p. D4; October 31, 1994, pp. Here, the little . ." [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. Newzjunky - JCC Releases President's And Dean's Lists For Fall 2013 m.facebook.com. 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. As he once told the New York Times, as reported by CNNMoney.com, "For a lot of people race is a defining issue. 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. She has been featured on the covers of Vogue and Vanity Fair and has frequently modelled for Tommy Hilfiger, as well as for Abercrombie & Fitch and designers Gai Mattiolo and Isaac Mizrahi. Encyclopedia.com. Born: March 28, 1946, in Chicago, Illinois., Public Company You cant give something to somebody to have, said Parsons in the same article. In September 2018, Parsons became the Interim Chairman of the Board for CBS replacing Les Moonves. 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. He later attended the University of Hawaii at Manoa, where he played varsity basketball. As he later told Black Enterprise, My wife talked me into it. Newsweek (January 24, 2000): p. 36. 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. Just twenty-three years old, and fresh out of law school, Parsons landed a job as an aide on the legal staff of Nelson Rockefeller (19081979), the governor of New York. Bl, B3. Stock Index: New York Farmington Hills, Mich.: Thomson Gale, 2003. Save. 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. Smith, Jessie Carney, ed. 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. April 20, 2021, 9:57 AM PDT / Source: TODAY. Within the Cite this article tool, pick a style to see how all available information looks when formatted according to that style. ." In September of 2003, Parsons made a surprising announcement: AOL Time Warner was undergoing a name change, and would in the future be known as simply Time Warner. (September 18, 2003) http://money.cnn.com/2003/09/18/technology/aol_name (accessed on July 31, 2004). Parsons began working at Dime during a difficult period. At the same time people speculated about what role Parsons would play in Time Warner's future. Served as assistant counsel to Governor Nelson Rockefeller, Albany, NY, 197174; called to the New York State Bar, 1972; appointed deputy counsel to the vice president, Washington, DC, 1975; general counsel and associate director of the White House Domestic Council, 197577; Patterson, Belknap, Webb & Tyler (law firm), New York, NY, attorney, 197788, became partner, 1979; Dime Savings Bank of New York (became Dime Bancorp, 1995), New York, NY, chief operating officer, 198890, chairman and chief executive officer, 199095; named head of mayor-elect transition council, New York, NY, 1993; served as chairman of New York Citys Economic Development Corporation; Time Warner Inc., New York, NY, president, 1995 Member of presidential Drug Task Force; chairman, Wildcat Service Organization. That same year, he scored the highest marks out of the nearly four thousand lawyers who took the New York State bar examination. It did make history as the largest corporate purchase ever, but it also became known as perhaps the most failed megamerger on record. In 2001, George W. Bush selected Parsons to co-chair a commission on Social Security. His maternal grandfather had been head groundskeeper at the John D. Rockefeller estate, Kykuit. A lawyer and politician, John Vliet Lindsay (born 1921) was a member of the U.S. Congress from 1959 to 1965 and mayor of New York, https://www.encyclopedia.com/education/news-wires-white-papers-and-books/parsons-richard-dean-1948, https://www.encyclopedia.com/education/news-wires-white-papers-and-books/parsons-richard-dean-1948-0, http://news.com.com/2009-1023-873910.html, http://money.cnn.com/2003/09/18/technology/aol_name, http://money.cnn.com/2001/12/05/ceos/parsons_profile, https://www.encyclopedia.com/general/culture-magazines/parsons-richard, http://www.hawaii.edu/offices/bor/honorary/php?person=RP, https://www.encyclopedia.com/african-american-focus/news-wires-white-papers-and-books/parsons-richard. "[11] In December 2001, it was announced that Levin would retire and Parsons had been selected as his successor. "I always knew I'd rise to the top; it never occurred to me that I couldn't.". To many, it seemed that Pittman took on most of the plum assignments in the company, considering he was in charge of the high-profile AOL operations. Since the first marketing of Laura Bush, Dr. Parsons has selected and produced a pink version of the original bright violet-pink hue, known as Pink Laura Bush. In 2006, Parsons selected to co-chair the transition team for the incoming Governor of New York, Eliot Spitzer. 23 Feb. 2023 . "Parsons, Richard Over the years Parsons has, however, admitted the possibility of entering politics later in life. 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. Not one. Also fueling his rise were connections he has made with important people over the years. So, in 1976, when President Ford lost his re-election bid to Jimmy Carter (1924), Parsons did not lack for opportunities. 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. "AOL Time Warner Still Fixing Holes." 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. The merger created the fourth largest thrift institution in the nation and the largest on the East Coast, with assets worth $20 billion. 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. During her "report" Parsons talked about a lot of thingsthat happened in this week's news cycle, such as Ken Bone's rise to viral fame and subsequent crash back to Earth due to some unearthed. Parsons answered these reservations by promising to devote his full attention to his new $525,000-a-year post. In 1977, Parsons in New York, a partner at the Patterson Belknap Webb & Tyler law firm. "And he would do it in a way that everyone would feel good about the outcome." lauren bush david laura miranda kerr coocoo coconut oil marries models. Employees: 14,500 In addition, Parsons states that his rules for success include believing in yourself, acquiring necessary skills, and outworking the next guy. newzjunky louise bartholomew nicole edward. With the bank now on solid financial ground, he engineered a merger with Anchor Savings Bank to create Dime Bancorp in early 1995. "I didn't have to think twice about it. In the latter post, Parsons focused on drug issues. Then, copy and paste the text into your bibliography or works cited list. Notable Black American Men, Book II. https://www.encyclopedia.com/general/culture-magazines/parsons-richard, "Parsons, Richard Judge Parsons was profiled in Black Enterprise's "Under 30 & Moving Up"' series in 1975. Dr. Larry Stein, another Extension horticulturist, has added further to the color scale with a glowing Purple Laura Bush. "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. Over the years Parsons has, however, admitted the possibility of entering politics later in life. [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. . In 1999, when AOL and Time Warner merged, parsons became the co-chief operating officer, a position shared with Bob Pittman. In turn, Time Warner would have unlimited access to the ever-expanding Internet pipeline. Incorporated:l96S In 2001, United States President George W. Bush selected Parsons to co-chair a commission on Social Security. Many, however, questioned the appointment since Parsons had no real experience in the banking industry. Parsons was left in control of a bank that was apparently dying. Kathleen Ryan served as an assistant to Parsons for a few weeks after she joined the Domestic Council in April, 1975. In his spare time he enjoys shooting pool and listening to music. Encyclopedia.com. Detroit, Mich.: Gale Research, 1996. 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. Decker, Ed; Minderovic, Christine "Parsons, Richard Dean 1948 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. During that time he also earned the respect of the staff for his fair treatment. In 1968, Parsons married Laura Ann Bush, a community activist with a doctorate in child psychology, who he met at the University of Hawaii. UXL Newsmakers. Certain corporations come to bear the impress of a sin, 19082007 "Can Dick Parsons Rescue AOL Time Warner?" J. Bruce Llewellyns career history might be viewed as a virtual microcosm of twentieth-century minority, Attorney, broadcasting executive, elected official "Parsons the Man: Public Service as Much as Private Sector Success Define AOL Time Warner's New CEO." To the extent that we've lost credibility, repairing it is important." When departing Deputy Attorney General Harold R. Tyler, Jr., became a partner at a well-established New York City law firm in 1977, he asked Parsons to come on board. 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. He also set out to streamline the bank's operations. . 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 graduated from the University of Hawaii and earned his J.D. As associate director, Parsons succeeded Geoffrey Shepard in handling general government, which included justice, treasury, commerce, the postal service, civil rights, and drugs. It just isn't for me. After all, Parsons had sat on the company's board of directors for several years, and had developed close ties with top TW executives. "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. 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. CNNMoney.com (December 5, 2001) http://money.cnn.com/2001/12/05/ceos/parsons_profile (accessed on July 29, 2004). 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. Meanwhile, he answered complaints from colleagues at the Dime that he was deserting them. window.__mirage2 = {petok:"Olb1PN4AOYQxfgUm1EldB37uVPcj4uBa8eBE3X8k2lQ-86400-0"}; 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. 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. The proud parents were by Jenna's side when she married her husband, Henry Hager, in. Encyclopedia.com. Under his tutelage the bank staged a remarkable comeback, largely through his massive overhauling of the banks management systems and work force. [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. In his eleven years with Patterson, Parsons cemented his reputation as a skilled negotiator. Parsons refused the position but consented to work as the Economic Development Corporation chairperson. 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 From March 1975 to January 1976, Parsons was assisted in his duties by Lyn May, who had worked for Geoffrey Shepard. As he told Cohen, "Ideally, you want to underpromise and overdeliver. They credit him with keeping employees informed every step of the way, at one point even producing several videos that were distributed to employees. When Albright departed the Dime, Parsons became chairman and CEO. During his 11 years at the firm, Parsons took on Margaretta Rockefeller, the widow of Nelson (who had died in 1979), as a high-profile client. Join Facebook to connect with Laura Parsons and others you may know. He is chairman of the Advisory Board of Feigen Advisors, a CEO advisory firm. As a result, Parsons became known as the consummate gentleman executive. Mayor Giuliani later asked Parsons to become his Deputy mayor for Economic Development. In a Black Enterprise article Parsons stated: "What motivates me is a sense of accountability to people who are important in my life." Zone Development Corporation, which was established to spur the development of business and the growth of job opportunities in Harlem. As one AOL shareholder told Business Week, "Dick is the right guy to be running the company right now." [9], Parsons was chairman of Citigroup from February 23, 2009[12] until April 2012 when he was replaced by Michael O'Neill. McClellan, Steve. Regardless, Parsons is consistently applauded by various groups for the inspiration he provides to young people everywhere. His journey to future success was given some impetus by his girlfriend at the time, Laura Bush, who became his wife in 1968. "It's a collaboration," he told Anthony Bianco and Tom Lowry of Business Week. 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. The most he did at the time was to learn to . And most 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. 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. Isidore, Chris. [25], On May 9, 2014, in the wake of the Donald Sterling racial remarks controversy, it was announced that Richard Parsons was appointed the interim CEO of the Los Angeles Clippers. 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. Mayor Giuliani later asked Parsons to become his deputy mayor for Economic Development. 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, Parsons took on the role of co-COO, sharing the job with Robert Pittman (1953), former president of AOL. He received a juris doctorate from the Union University, University of Albany Law School in 1971. 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. In Contemporary Black Biography. The merger created the fourth largest thrift institution in the nation and the largest on the East Coast, with assets worth $20 billion. "Reeling Like a Bad Movie: AOL Time Warner." Never. Lauren Bush Lauren was born on June 25, 1984 in Texas, USA. UXL Newsmakers. Among his clients were such high-profile figures as Happy Rockefeller and the cosmetics queen EsteeLauder. After attaining her master's degree in library science at the University of Texas at Austin, she was employed as a librarian. He was raised in the rough neighborhood of Jamaica, New York, a city in Queens County. Encyclopedia.com. [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? He became such a trusted adviser that in 1974, when Rockefeller headed to Washington to serve 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.. A 2001 merger between Internet icon America Online (AOL) and Time Warner, a leader in the entertainment industry, had proven to be a failed experiment. O de wurl aint flat,An de wurl aint roun,Hits one long stripHangin up an downJes Souf an Norf;Jes Norf an Souf. 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 . Parsons chose to support Rudolph Giuliani in the New York City mayoral race instead of Democrat black mayor David Dinkins. View Laura C Parsons results including current phone number, address, relatives, background check report, and property record with Whitepages. 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. He has claimed that race was never a defining character in his life. Dawn Bennett-Alexander assisted Parsons from March 1976 until the end of the administration. In April 1976 when Kathleen Ryan left the Domestic Council, responsibility for consumer affairs was given to Parsons' office. "Parsons Faces Major Test in Unifying AOL Time Warner." Errol Garner and Miles Davis are his favorite musicians. [CDATA[ 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. Contemporary Black Biography. 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. 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." "Can a Nice Guy Run This Thing?" 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