Parsons's tenure with Rockefeller and Ford opened up many doors for him and brought him to nationwide attention as an up-and-coming young executive. (February 23, 2023). When Parsons was named chief executive officer (CEO) in 2002 and chairman in 2003, he became one of the most powerful executives in the United States, but he also inherited a mountain of problems. His maternal grandfather had been head groundskeeper at the John D. Rockefeller estate, Kykuit. (February 23, 2023). window.__mirage2 = {petok:"Olb1PN4AOYQxfgUm1EldB37uVPcj4uBa8eBE3X8k2lQ-86400-0"}; . Governor Rockefeller rewarded Parsonss solid performance by keeping him on his staff when he became vice president under President Gerald Ford in 1974. 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. For a brief time he worked for Nelson Rockefeller at the family office, "Room 5600", at Rockefeller Center.[8]. Hard work has been a crucial component of the Parsons success story, a value he claims to have learned from his father. Parsons accepted the presidency for a reported salary of several million dollars a year. With a calm, cool-headed resolve, he doggedly tackled the problems that lay ahead. 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. "Can Dick Parsons Rescue AOL Time Warner?" There are a number of other black executives who have elevated positions in corporate America, said Parsons in Black Enterprise. Memberships: Member of presidential Drug Task Force; chairman, Wildcat Service Organization. New York Times, May 8, 1990, p. D5; August 26, 1990, p. D5; July 7, 1994, p. D4; October 31, 1994, pp. Colleagues say Parsons management style helped smooth the painful layoffs that he had to make, wrote Fonda Marie Lloyd and Mark Lowery in Black Enterprise. CNNMoney.com. In 2003, Parsons made the announcement of the name change from AOL Time Warner to simply Time Warner. This political stance was consistent with his rejection of the Democrats philosophy. 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. ." 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. "It's a collaboration," he told Anthony Bianco and Tom Lowry of Business Week. 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. AOL Time Warner's various operating units were still far from achieving a full integration. 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 the Man: Public Service as Much as Private Sector Success Define AOL Time Warner's New CEO." The drag on the company continued to be AOL, which consistently floundered. Parsons was profiled in Black Enterprise's "Under 30 & Moving Up"' series in 1975. 2008 redeem team starting 5; who is sarah davis married to; His 43 . And most With the bank now on solid financial ground, he engineered a merger with Anchor Savings Bank to create Dime Bancorp in early 1995. In September 2018, Parsons became the Interim Chairman of the Board for CBS replacing Les Moonves. Parsons had no clear idea what direction to take after college, but at the prompting of Laura, he decided to go to law school. 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. 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 Chairman and chief executive officer, Goldman, Sachs & Company "Time Warner Drops AOL Name." 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. Regardless, Parsons is consistently applauded by various groups for the inspiration he provides to young people everywhere. Smith, Jessie Carney, ed. Nationality: American. Never. 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. Once again, Parsons made history, becoming what Adam Cohen of Time called the "first African American to lead the world's most influential media company." Retrieved February 23, 2023 from Encyclopedia.com: https://www.encyclopedia.com/education/news-wires-white-papers-and-books/parsons-richard-dean-1948-0. Lloyd, Fonda Marie, and Mark Lowery. 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. Ed. Colleagues say Parsons management style helped smooth the painful layoffs that he had to make, wrote Fonda Marie Lloyd and Mark Lowery in Black Enterprise.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. J. Bruce Llewellyns career history might be viewed as a virtual microcosm of twentieth-century minority, Attorney, broadcasting executive, elected official Niece of George W. Bush, Laura Bush, Doro Bush, Marvin Bush and Jeb . Vol. During that time he also earned the respect of the staff for his fair treatment. 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. Parsons is due to mark his 31st wedding anniversary with his wife, the former Laura Ann Bush, in August. [1] He was previously the interim CEO of the Los Angeles Clippers NBA franchise. "And he would do it in a way that everyone would feel good about the outcome." Later that year, it was announced that Parsons had been selected as CEO of America Online. 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. [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. Washington Post, November 1, 1994, p. D5; December 6, 2001, p. EO1. In 2006, Parsons was selected to co-chair the transition team for the incoming Governor of New York, Eliot Spitzer. 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. agreed that friendly giant Richard Parsons had been just what the fractured titan needed. Parsons joined the Domestic Council staff in March 1975, serving both as legal council and as an associate director. 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). 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. Parsons skipped two grades and graduated from high school at the age of sixteen. Standing at 6 feet 4 inches, with broad shoulders, he is a physically impressive man who could fill any boardroom. "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. In addition to the MLA, Chicago, and APA styles, your school, university, publication, or institution may have its own requirements for citations. Parsons had no clear idea what direction to take after college, but at the prompting of Laura, he decided to go to law school. As part of his management restructure, Parsons opted to lay off almost one-third of the Dime's staff. 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. He skipped a grade in elementary school and another in high school. While in Hawaii, he also met his future wife, Laura Bush. 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 2015, Parsons was diagnosed with multiple myeloma, a rare blood cancer. Left to my own devices, I dont feel any compulsion to strive, he told the New York Times in 1990. Richard Dean "Dick" Parsons was born in Brooklyn, New York. He became an advisory trustee of the family's principal philanthropy, the Rockefeller Brothers Fund, and he sits with David Rockefeller on the board of the World Trade Center Memorial Foundation. Levin had been in negotiations with Steve Case (1958), AOL's CEO, for several years. 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 his 11 years with the firm, he made his mark in both corporate law and civil litigation. View the profiles of people named Laura Parsons. Errol Garner and Miles Davis are his favorite musicians. Dl, D6. After Giuliani was elected, he named Parsons to be head of his transition council. 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-. In 2009, he had a child with model-philanthropist MacDella Cooper due to an extra-marital affair. "Parsons, Richard Meanwhile, he answered complaints from colleagues at the Dime that he was deserting them. In 1968, Parsons married Laura Ann Bush, a community activist with a doctorate in child psychology, who he met at the University of Hawaii. They have three grown children: Gregory, Leslie, and Rebecca. After all, Parsons had sat on the company's board of directors for several years, and had developed close ties with top TW executives. ExperienceIT, +5 more. . Detroit, Mich.: Gale Research, 1996. It's like height. He was also in charge of the legal department and human resources. 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. 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. 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. 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. Parsons, however, was an extremely bright young man, who went on to graduate from high school when he was just sixteen years old. Listen to article. Over the years Parsons has, however, admitted the possibility of entering politics later in life. 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. I know the bank is in good hands.. 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. With the bank on solid ground, Parsons set his sights on a new enterprise. 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. DI, D6. 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. 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 the Washington Post, Levin called Parsons an exceptional business leader with the broad experience, financial acumen and the knowledge of our business that will strengthen and solidify our corporate management., Parsons accepted the presidency for a reported salary of several million dollars a year. It was either you go for it, or its gone forever, claimed Parsons mBlack Enterprise.Its not a bad time for me to make a move. Then, they dont value it. Dr. Larry Stein, another Extension horticulturist, has added further to the color scale with a glowing Purple Laura Bush. After attaining her master's degree in library science at the University of Texas at Austin, she was employed as a librarian. Time (December 17, 2001). CNET News.com (April 3, 2002) http://news.com.com/2009-1023-873910.html (accessed on July 29, 2004). New York Times, May 8, 1990, p. D5; August 26, 1990, p. D5; July 7, 1994, p. D4; October 31, 1994, pp. Black Enterprise, October 1994, pp. Washington Post, November 1, 1994, p. D5. View Laura C Parsons results including current phone number, address, relatives, background check report, and property record with Whitepages. Therefore, its best to use Encyclopedia.com citations as a starting point before checking the style against your school or publications requirements and the most-recent information available at these sites: http://www.chicagomanualofstyle.org/tools_citationguide.html. The merger was made official in 2001, when AOL purchased Time Warner for a reported $168 billion. 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. "I didn't have to think twice about it. In his spare time he enjoys shooting pool and listening to music. During his eleven years with the firm he was successful in both corporate law and civil litigation. You cant give something to somebody to have, said Parsons in the same article. 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. 23 Feb. 2023 Kalamazoo, Michigan Arrests Mugshots,
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