[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. Still, when Levin announced, in late 2001, that In 1977, he returned to New York, and at the request of former U.S. Deputy Attorney General Harold R. Tyler Jr., he joined the law firm of Patterson, Belknap, Webb & Tyler. Certain corporations come to bear the impress of a sin, 19082007 J. Bruce Llewellyns career history might be viewed as a virtual microcosm of twentieth-century minority, Attorney, broadcasting executive, elected official Parsons also worked on the transition team for Michael Bloomberg, who was elected Mayor of New York City in 2001. Washington Post, November 1, 1994, p. D5. According to Bush, it was the most logical decision since Parsons enjoyed arguing so much. On October 1, 1995, Parsons was appointed president of Time Warner with a salary of several million dollars per year. [24], Parsons was a member of the economic advisory team for President Barack Obama. "Parsons, Richard Its not a bad time for me to make a move. Birthplace: Brooklyn, NY Gender: Male Race or Ethnicity: Black Sexual orientation: Straight Occupation: Business Nationality: United States Executive summary: CEO of Time Warner, 2002-07 Wife: Laura Bush Parsons (three children) Mistress: MacDella Cooper (model, one daughter) Daughter: Ella (b. Aug-2008 with Cooper) 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. They have three grown children: Gregory, Leslie and Rebecca. He also serves as chairman of the Upper Manhattan Empowerment George and Laura welcomed their twin daughters, Jenna Bush Hager and Barbara Bush, on November 25, 1981. . His journey to future success was given some impetus by his girlfriend at the time, Laura Bush, who became his wife in 1968. In a Black Enterprise article Parsons stated: "What motivates me is a sense of accountability to people who are important in my life." Richard Dean "Dick" Parsons was born in Brooklyn, New York. Parsons later lived in a guesthouse on the estate. To the extent that we've lost credibility, repairing it is important." Parsons began working at Dime during a difficult period. Parsons was named CEO for AOL Time Warner. New York Times, May 8, 1990, p. D5; August 26, 1990, p. D5; July 7, 1994, p. D4; October 31, 1994, pp. Facebook gives people the power to. Landler, Mark "Watch Your Back, Mr. Parsons" Business Week (14 November 1994): 38-39. Then, copy and paste the text into your bibliography or works cited list. 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. 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. Meanwhile, he answered complaints from colleagues at the Dime that he was deserting them. 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. window.__mirage2 = {petok:"Olb1PN4AOYQxfgUm1EldB37uVPcj4uBa8eBE3X8k2lQ-86400-0"}; Vol. Bianco, Anthony, and Tom Lowry. 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. He has claimed that race was never a defining character in his life. In the same Business Week interview, the CEO revealed, "I take this job seriously. Parsons met Laura, a. Member of the board of directors of Dime Savings Bank, Federal National Mortgage Association, Philip Morris Companies, Time Warner Inc., New York Zoological Society, and American Television & Communications Inc.; trustee of Rockefeller Brothers Fund, Howard University, and Metropolitan Museum of Art. [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. "AOL Time Warner Still Fixing Holes." 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." [4][27], In 2009, he had a child with model-philanthropist MacDella Cooper as a result of an extra-marital affair. Hispanic PRWire (June 11, 2004) http://www.hispanicprwire.com/news_in.php?id=2478&cha=6&PHPSESSID (accessed on July 31, 2004). For example, during his Washington years, the social-minded Parsons was chairman of the Wildcat Service Corporation, an organization that provides job training for people who have difficulty finding work because of past criminal records, addictions, or poverty. ", "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. The merger created the fourth largest thrift institution in the nation and the largest on the East Coast, with assets worth $20 billion. Director of Business Operations at ExperienceIT. At the same time people speculated about what role Parsons would play in Time Warner's future. In 2006, Parsons was selected to co-chair the transition team for the incoming Governor of New York, Eliot Spitzer. After all, Parsons had sat on the company's board of directors for several years, and had developed close ties with top TW executives. During that time he also earned the respect of the staff for his fair treatment. For the next six years, he served as the number-two executive Errol Garner and Miles Davis are his favorite musicians. 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. While in Hawaii, he also met his future wife, Laura Bush. (her sister, Ashley, graduated from Kincaid in 2007). But, in this case, Parsons sits at the helm of one of the largest media companies in the world, Time Warner. 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. //. Education: Graduated from University of Hawaii, 1968; Union University, University of Albany Law School, J.D., 1971. Hard work has been a crucial component of the Parsons success story, a value he claims to have learned from his father. You cant give something to somebody to have, said Parsons in the same article. Over the years Parsons has, however, admitted the possibility of entering politics later in life. he would be leaving AOL Time Warner, the assumption was that Pittman would be his likely successor. In 2003, Parsons made the announcement of the name change from AOL Time Warner to simply Time Warner. As a result, Dime Bancorp became the largest thrift institution on the East Coast and the fourth largest in the United States. To the rest of the world, they are former President George W. Bush and former first lady Laura Bush, but to Jenna Bush Hager's children . Retrieved February 23, 2023 from Encyclopedia.com: https://www.encyclopedia.com/education/news-wires-white-papers-and-books/parsons-richard-dean-1948. 2019Encyclopedia.com | All rights reserved. Again, the business community was rocked by the news. President Ford also used his services, first as a general. "It's a collaboration," he told Anthony Bianco and Tom Lowry of Business Week. Parsons became a board member for Time Warner, Inc., Phillip Morris, Tristar Pictures, Harvard University, and the Metropolitan Museum of Art. The merger was made official in 2001, when AOL purchased Time Warner for a reported $168 billion. 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. "Getting your team together is the more important thing." And, after taking over as chairman from Steve Case, who stepped down in January of 2003, Parsons went to work to repair the damage from the AOL merger. CNNMoney.com. 23 Feb. 2023 . did desi arnaz jr have a stroke; moose tracks vs cow tracks ice cream 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. "Parsons, Richard 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. CNNMoney.com (December 5, 2001) http://money.cnn.com/2001/12/05/ceos/parsons_profile (accessed on July 29, 2004). Parsons, however, was an extremely bright young man, who went on to graduate from high school when he was just sixteen years old. 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. Therefore, be sure to refer to those guidelines when editing your bibliography or works cited list. 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. Incorporated:l96S Addresses: Office Time-Warner Inc., 75 Rockefeller Plaza, New York, NY. Parsons accepted the presidency for a reported salary of several million dollars a year. As he later told Black Enterprise, My wife talked me into it. In 1968, Parsons married Laura Ann Bush, a community activist with a doctorate in child psychology, who he met at the University of Hawaii. By Scott Stump. April 20, 2021, 9:57 AM PDT / Source: TODAY. Save. I exist apart from this job.". 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. He received a juris doctorate from the Union University, University of Albany Law School in 1971. 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. 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. Notable Black American Men, Book II. In the May 1975 reorganization, his area of responsibility was divided, and Parsons became associate director for justice, crime, civil rights, and communications (communications was transferred to F. Lynn May in January of 1976). Memberships: Member of presidential Drug Task Force; chairman, Wildcat Service Organization. Parsons joined the Domestic Council staff in March 1975, serving both as legal council and as an associate director. DI, D6. degree from Union University's Albany Law School in 1971. He stepped down as CEO of Time Warner on December 31, 2007. As part of his management restructure, Parsons opted to lay off almost one-third of the Dime's staff. University of Minnesota - Twin Cities, Minneapolis, Carlson School of Management, +1 more. *Richard Parsons was born on this date in 1948. She is also credited with creating a national initiative called "Ready to Read, Ready to Learn", which promotes reading at a young age. But it's not my life. Within the Cite this article tool, pick a style to see how all available information looks when formatted according to that style. 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. Broadcasting & Cable (July 28, 2003): p. 8. (February 23, 2023). 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. It was a drastic move, but he also kept communications open with his employees every step of the way. [6] He skipped a grade in elementary school and another in high school. Judge Governor Rockefeller rewarded Parsonss solid performance by keeping him on his staff when he became vice president under President Gerald Ford in 1974. 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." As one AOL shareholder told Business Week, "Dick is the right guy to be running the company right now." Parsons is due to mark his 31st wedding anniversary with his wife, the former Laura Ann Bush, in August. 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. 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. 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.. Retrieved February 23, 2023 from Encyclopedia.com: https://www.encyclopedia.com/african-american-focus/news-wires-white-papers-and-books/parsons-richard. Financial Times, December 8, 2001, p. 13. "He is a persuader, not a dictator," a former colleague told CNET News.com. lauren bush david laura miranda kerr coocoo coconut oil marries models. Ed. April 21, 2021 11:45 am ET. 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. Style to see how all available information looks when formatted according to Bush, it was most! Expected chief operating officer laura bush parsons Pittman to take the helm of one of the Parsons story! 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