Parsons joined the Domestic Council staff in March 1975, serving both as legal council and as an associate director. Standing at 6 feet 4 inches, with broad shoulders, he is a physically impressive man who could fill any boardroom. In African American Lives. Lloyd, Fonda Marie, and Mark Lowery. He was replaced by Strauss Zelnick. Assets: $47.4 billion True, Parsons had proven to be flexible enough to succeed in the banking world, but he had absolutely no background in media and entertainment. The merger created the fourth largest thrift institution in the nation and the largest on the East Coast, with assets worth $20 billion. Just before Parsons officially took over from Levin in May of 2002, the company posted a quarterly loss of $54 billion, the largest in U.S. history. George and Laura welcomed their twin daughters, Jenna Bush Hager and Barbara Bush, on November 25, 1981. J. Bruce Llewellyns career history might be viewed as a virtual microcosm of twentieth-century minority, Attorney, broadcasting executive, elected official It also brought Parsons to the attention of high-ranking people who later sought his services. In 2003, Parsons announced the name change from AOL Time Warner to Time Warner. That same year, he scored the highest marks out of the nearly four thousand lawyers who took the New York State bar examination. Born into a family of humble means in the BedfordStuyvesant section of Brooklyn, New York, and raised in Queens, New York, Parsons revealed an inherent intelligence but had few aspirations as a youth. 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. Incorporated:l96S In his spare time he enjoys shooting pool and listening to music. Regardless, Parsons is consistently applauded by various groups for the inspiration he provides to young people everywhere. The drag on the company continued to be AOL, which consistently floundered. Eds. Henry Louis Gates Jr. New York: Oxford University Press, 2004. [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. Wall Street Journal, May 8, 1990, p. BIO; January 30, 1995, pp. ." Facebook gives people the power to. UXL Newsmakers. She said I needed the change., Parsonss appointment made him the first black to manage a lending company the size of Dime Savings Bank. Judge "Time Warner Drops AOL Name." 68-70, 72, 76, 77; January 1995, p. 15. Business Week, November 14, 1994, pp. ." Parsons was a member of the economic advisory team for President Barack Obama in 2008. Parsons was asked to become the new president of Time Warner by its chairman, Gerald M. Levin, in the fall of 1994. 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. On October 1, 1995, Parsons was appointed president of Time Warner with a salary of several million dollars per year. He quickly became a star in the firm and in just two years was named partner. In this case, Parsons was forced to tap into both sides of his personality. "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. 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. President Ford also used his services, first as a general. Apparently it was the right decision. Notable Black American Men, Book II. Ed Decker and Christine Miner Minderovic. [1] He was previously the interim CEO of the Los Angeles Clippers NBA franchise. Contemporary Black Biography. In turn, Time Warner would have unlimited access to the ever-expanding Internet pipeline. In a Black Enterprise article Parsons stated: "What motivates me is a sense of accountability to people who are important in my life." in history from the University of Hawaii in 1968. 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. The merger created the fourth largest thrift institution in the nation and the largest on the East Coast, with assets worth $20 billion. ." . Parsons is also on the board of the family-created Museum of Modern Art. [26], In 1968, Parsons married Laura Ann Bush, a community activist with a doctorate in child psychology, who he met at the University of Hawaii. *Richard Parsons was born on this date in 1948. Contemporary Black Biography. (2 minutes) Former President George W. Bush, 74, is the author of "Out of Many, One: Portraits of America's Immigrants" (Crown). 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 addition to the MLA, Chicago, and APA styles, your school, university, publication, or institution may have its own requirements for citations. Parsons graduated from the University of Hawaii and earned his J.D. Parsons is due to mark his 31st wedding anniversary with his wife, the former Laura Ann Bush, in August. Observer, (London, England) December 9, 2001, p. 4. [6] He later attended the University of Hawaii at Manoa, where at 6'4" tall he may have played varsity basketball. The world's most influential media company, however, was struggling. "He intellectualizes outcomes and gets people to agree with his outcomes." But it was Parsons who oversaw the units that brought in the most revenue, including Warner Brothers, New Line Cinema, and Time Warner Trade Publishing. Although Parsons refused that position, he consented to work as chairman of the citys Economic Development Corporation. Encyclopedia.com. Dawn Bennett-Alexander assisted Parsons from March 1976 until the end of the administration. Business executive From March 1975 to January 1976, Parsons was assisted in his duties by Lyn May, who had worked for Geoffrey Shepard. AOL Time Warner's various operating units were still far from achieving a full integration. As a result of his involvement with Time Warner, he developed close ties with Robert W. Morgado, the chairman of the Warner Music Group, and Michael J. Fuchs, chairman of HBO.In the fall of 1994, Parsons was requested by Gerald M. Levin to become the president of Time Warner. 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. Hu, Jim. To the extent that we've lost credibility, repairing it is important." He met with the then President-elect on Friday, November 7, 2008, along with many other economic experts, to discuss measures to solve the current economic crisis. He played varsity basketball there, and was also the social chairman of his fraternity. "I didn't have to think twice about it. Levin, however, felt that Parsons was the right man for the job, and some business insiders were not that surprised. The announcement surprised many media watchers who expected chief operating officer Robert Pittman to take the helm. 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. In addition, thanks to an industry-wide technology slump, AOL, which had promised big revenues, had failed to deliver. ExperienceIT, +5 more. 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, Richard Cite this article Pick a style below, and copy the text for your bibliography. Notable Black American Men, Book II. [24], Parsons was a member of the economic advisory team for President Barack Obama. 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. 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. 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. DETAILS. . 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. Niece of George W. Bush, Laura Bush, Doro Bush, Marvin Bush and Jeb . 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. Never. B1, B3. 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. Apparently it was the right decision. In 2000, Parsons guided the merger of Time Warner with America Online (AOL). As one AOL shareholder told Business Week, "Dick is the right guy to be running the company right now." (Photo by Shahar Azran/WireImage) Embed. 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. But, in this case, Parsons sits at the helm of one of the largest media companies in the world, Time Warner. 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. In 2007, he became the chairman of the board of directors of the Jazz Foundation of America. "Parsons, Richard In 1988, just when it seemed that Parsons was poised to become head of his law firm, the news was announced that he had accepted the position of chief operating officer (COO) of the Dime. 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. Contemporary Black Biography. He paid his law school expenses by working as a part time janitor and later as an aide in the New York State Assembly. For the next six years, he served as the number-two executive Parsons also worked on the transition team for Michael Bloomberg, who was elected Mayor of New York City in 2001. Bell, Gregory S., "Richard Dean Parsons." After Giuliani was elected, he named Parsons to be head of his transition council. 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. Then, copy and paste the text into your bibliography or works cited list. Here, the little . 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. 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. It just isn't for me. [8] He helped negotiate the company's merger with America Online in 2000, creating a $165-billion media conglomerate[10] that is "usually described as the worst merger of all time. 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. In contrast, he embraced the Rockefeller Republicans' philosophy of equipping a group with skills so they can achieve what they need on their own. Assistance League Of Chicagoland West: December 2013 alcw95.blogspot.com. University of Hawaii System.http://www.hawaii.edu/offices/bor/honorary/php?person=RP (Accessed 2 December 2005). In June 2016, Parsons was appointed Board Chair of The Rockefeller Foundation, a foundation promoting the well-being of humanity worldwide. 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. Whether I was an African-American, an Arab-American, a Jewish-American, or some other American, there are a lot of people who I cannot let down, so you have to live your life a certain way to be a role model to the people who are important to you.. In 2001, George W. Bush selected Parsons to co-chair a commission on Social Security. http://www.ford.utexas.edu/library/GUIDES/Finding%20Aids/Parsons,%20Richard%20%20Files (Accessed 7 December 2005). On May 16, 2001, Parsons replaced Gerald Levin as CEO of the AOL-Time Warner Corporation. "Richard D. Parsons Named New CEO of AOL Time Warner." 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. 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. Save. "Honorary Degrees Conferred by the University of Hawaii." 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. Governor Rockefeller rewarded Parsonss solid performance by keeping him on his staff when he became vice president under President Gerald Ford in 1974. Some predicted a future in politics for Parsons. 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. In 2003 the University of Hawaii awarded Parsons the honorary doctor of humane letters degree. As he later told Black Enterprise, My wife talked me into it. It was a drastic move, but he also kept communications open with his employees every step of the way. Right after graduating in 1968, Bush wasn't doing anything concrete. New York Times, May 8, 1990, p. D5; August 26, 1990, p. D5; July 7, 1994, p. D4; October 31, 1994, pp. The most he did at the time was to learn to . They have three grown children: Gregory, Leslie, and Rebecca. Encyclopedia.com. 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. Employees: 14,500 CNNMoney.com (December 5, 2001) http://money.cnn.com/2001/12/05/ceos/parsons_profile (accessed on July 29, 2004). . [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. "He is a persuader, not a dictator," a former colleague told CNET News.com. Decker, Ed; Minderovic, Christine "Parsons, Richard Dean 1948 Its not a bad time for me to make a move. Parsons later lived in a guesthouse on the estate. . [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. ." A gregarious and thoughtful man, Mr. Parsons has risen by winning the affection and loyalty of influential mentors, wrote Laurence Zuckerman in the New York Times. His journey to future success was given some impetus by his girlfriend at the time, Laura Bush, who became his wife in 1968. As he later told Black En terprise, My wife talked me into it. 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. 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. 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. Certain corporations come to bear the impress of a sin, 19082007 Parsons became a partner in just two years at Patterson, Belknap, Webb & Tyler, a move that typically demanded seven years. 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. He serves on the board of several cultural institutions, including the Museum of Modern Art and Lincoln Center. He was one of five children. In 2015, Parsons was diagnosed with multiple myeloma, a rare blood cancer. ." Addresses: Office Time-Warner Inc., 75 Rockefeller Plaza, New York, NY. April 21, 2021 11:45 am ET. 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.. His journey to future success was given some impetus by his girlfriend at the time, Laura Bush, who became his wife in 1968. [14], In September 2018, Parsons became the Interim Chairman of the Board for CBS, replacing Les Moonves. laura bush parsonsis ora king salmon safe to eat. X. who is credence barebone related to; how many registered voters in new york state 2021; frasi ciro di marzio gomorra. Meanwhile, he answered complaints from colleagues at the Dime that he was deserting them. L. Mpho Mabunda and Shirelle Phelps. "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. Listen to article. 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. . ", "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. 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. He became such a trusted adviser that in 1974, when Rockefeller headed to Washington to serve 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. Parsons began working at Dime during a difficult period. [13] He is chairman of the advisory board of Feigen Advisors, a CEO advisory firm run by Marc Feigen. The Atlanta Journal-Constitution wrote, His designation as chief executive of the $36 billion media empire proves that African-Americans can not only perform in positions of commercial leadership but can wildly surpass all expectations. Known for his excellent mediation skills and his ability to put others at ease, Parsons told The Atlanta Journal-Constitution that he is a lunch pail manager who will display an in-the-trenches style of leadership. Encyclopedia.com. Black Enterprise, October 1994, pp. 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. Newsweek (January 24, 2000): p. 36. 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. 23 Feb. 2023 . [15], In 2007, Parsons became the chairman of the board of directors of the Jazz Foundation of America. Parsons had no clear idea what direction to take after college, but at the prompting of Laura, he decided to go to law school. . Addresses: Office AOL Time Warner, 75 Rockefeller Plaza, New York, NY 10019. council and then as associate director of the domestic council. "That's what makes you different from your competition," he maintains. Editorial #: 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. 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. Parsons was profiled in Black Enterprise's "Under 30 & Moving Up"' series in 1975. To this union three children were born (Gregory, Leslie, and Rebecca). [4] He was one of five children. Kathleen Ryan served as an assistant to Parsons for a few weeks after she joined the Domestic Council in April, 1975. (February 23, 2023). Parsons also had to deal with an onslaught of unhappy regulators. Parsons also remained a committed leader in other areas of public and community service. 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. 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. It's like height. 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. Company right now.: l96S in his spare Time he enjoys shooting pool and listening to music by groups! Parsons later lived in a guesthouse on the company right now. replacing... And community service Office Time-Warner Inc., 75 Rockefeller Plaza, New State! ) http: //money.cnn.com/2001/12/05/ceos/parsons_profile ( Accessed on July 29, 2004 ) 68-70, 72 76. He maintains `` he is a physically impressive man who could fill any boardroom M.,. 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