Within the Cite this article tool, pick a style to see how all available information looks when formatted according to that style. Black Enterprise, October 1994, pp. . 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. True, Parsons had proven to be flexible enough to succeed in the banking world, but he had absolutely no background in media and entertainment. Parsons remained optimistic, but he proceeded cautiously. Contemporary Black Biography. ." 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. Former President George W. Bush and Laura Bush's daughter Barbara Bush gave birth to her first baby with husband Craig Coyne on Monday By Mary Park Published on September 29, 2021 11:42 AM Richard Parsons has become one of the most prominent figures in American business, without rising through the usual ranks required to reach a high-level corporate position. [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. . Observer, (London, England) December 9, 2001, p. 4. [9] In 1988, he was recruited to serve as chief operating officer of the Dime Savings Bank of New York by CEO Harry W. Albright Jr., who was a former Rockefeller aide. Contemporary Black Biography. "Time Warner Drops AOL Name." View the profiles of people named Laura Parsons. "Parsons, Richard Assets: $47.4 billion Here, the little . 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 1994, Gerald Levin (1939), chairman of Time Warner (TW), openly recruited Parsons to take over as president of the company. He played varsity basketball there, and was also the social chairman of his fraternity. 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. in history from the University of Hawaii in 1968. In 2007, he became the chairman of the board of directors of the Jazz Foundation of America. . warren central student killed 2022. 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. https://www.encyclopedia.com/african-american-focus/news-wires-white-papers-and-books/parsons-richard, "Parsons, Richard It was either you go for it, or its gone forever, claimed Parsons in Black Enterprise. (Photo by Shahar Azran/WireImage) Embed. 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. The biggest boost came from the film division, which had experienced an enormous success because of the Harry Potter and The Lord of the Rings series. Parsons was a member of the economic advisory team for President Barack Obama in 2008. 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. 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. While in Hawaii, he also met his future wife, Laura Bush. 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. Encyclopedia.com. Encyclopedia.com. Business executive Born in Midland, Texas, Bush graduated from Southern Methodist University in 1968 with a bachelor's degree in education, and took a job as a second grade teacher. Parsons met Laura, a. 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) In African American Lives. With the bank on solid ground, Parsons set his sights on a new enterprise. UXL Newsmakers. Levin had been in negotiations with Steve Case (1958), AOL's CEO, for several years. Isidore, Chris. 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. Still, when Levin announced, in late 2001, that Financial Times, December 8, 2001, p. 13. After attaining her master's degree in library science at the University of Texas at Austin, she was employed as a librarian. https://www.encyclopedia.com/general/culture-magazines/parsons-richard, "Parsons, Richard According to Bush, it was the most logical decision since Parsons enjoyed arguing so much. You cant give something to somebody to have, said Parsons in the same article. Some predicted a future in politics for Parsons. During that time he also earned the respect of the staff for his fair treatment. In 2001, United States President George W. Bush selected Parsons to co-chair a commission on Social Security. It's like height. As he later told Black En terprise, My wife talked me into it. 38, 39. Parsons served with the Domestic Council until the end of the Ford administration and returned to New York to work for Governor Nelson Rockefeller. on August 30, 1968. CNNMoney.com (December 5, 2001) http://money.cnn.com/2001/12/05/ceos/parsons_profile (accessed on July 29, 2004). The proud parents were by Jenna's side when she married her husband, Henry Hager, in. Parsons joined the Domestic Council staff in March 1975, serving both as legal council and as an associate director. As part of his management restructure, Parsons opted to lay off almost one-third of the Dime's staff. Encyclopedia.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. He graduated at the age of twenty-three, number one of more than 100 students and received the highest score among 3,600 lawyers in 1971 who took the state bar exam. Retrieved February 23, 2023 from Encyclopedia.com: https://www.encyclopedia.com/education/news-wires-white-papers-and-books/parsons-richard-dean-1948-0. Pick a style below, and copy the text for your bibliography. 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 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. In 1977, Parsons in New York, a partner at the Patterson Belknap Webb & Tyler law firm. In a Black Enterprise article, he openly rejected the Democrats' philosophy of taking from one group to give to another. Its a statement by and to corporate America that there are no more areas where African Americans havent succeeded, he told the New York Times in 1990. This opportunity with Time Warner is a once in a lifetime one. Decker, Ed; Minderovic, Christine "Parsons, Richard Dean 1948 ", "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. Although Richard Dean Parsons regularly makes Fortune magazine's annual list of the most powerful people in business, and he is considered to be one of the most respected African American executives in the country, he came from an average working-class background. "He is a persuader, not a dictator," a former colleague told CNET News.com. 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. In 1968, Parsons married Laura Ann Bush, a community activist with a doctorate in child psychology, who he met at the University of Hawaii. "Parsons the Man: Public Service as Much as Private Sector Success Define AOL Time Warner's New CEO." degree from Union University's Albany Law School in 1971. . 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. Peter J. Parsons, 66, has been married for 35 years to his wife Laura, 67. 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. Greater Minneapolis-St. Paul Area. newzjunky louise bartholomew nicole edward. For the next six years, he served as the number-two executive 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. Parsons credits his father with teaching him to concentrate on achievement rather than dwell on race. [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. Parsons is also on the board of the family-created Museum of Modern Art. 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. Business executive Richard Parsons has been called a teddy bear, a master diplomat, and a charmer, but perhaps the best description that has been applied to him is "friendly giant." It also brought Parsons to the attention of high-ranking people who later sought his services. Many doubted that he could succeed at Time Warner, which was considered to be a media giant, controlling virtually all aspects of the industry, including television (CNN, HBO, Turner Classic Movies, WB Network); film (Warner Brothers, New Line Cinema); publishing (magazines such as Time, People, and Sports Illustrated ); and music (Warner Music Group). Cite this article Pick a style below, and copy the text for your bibliography. Then, copy and paste the text into your bibliography or works cited list. "Can a Nice Guy Run This Thing?" Employees: 14,500 Washington Post, November 1, 1994, p. D5. 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 Dr. Larry Stein, another Extension horticulturist, has added further to the color scale with a glowing Purple Laura Bush. Parsons was left in control of a bank that was apparently dying. 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. . Parsons and his wife Laura own a vineyard in Montalcino, Italy. 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 also had to deal with an onslaught of unhappy regulators. 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. Parsons dealt with unhappy regulators. There are a number of other black executives who have elevated positions in corporate America, said Parsons inBlack Enterprise.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. Washington Post, November 1, 1994, p. D5; December 6, 2001, p. EO1. Parsons later became Chairman and CEO and oversaw a merger with Anchor Savings Bank. He frequently downplays race as a factor or handicap in his success. Parsons began his career as a member of New York governor Nelson Rockefeller's legal staff where he served when Rockefeller became vice president of the United States under President Gerald Ford in 1974. Then, they dont value it. As associate director, Parsons succeeded Geoffrey Shepard in handling general government, which included justice, treasury, commerce, the postal service, civil rights, and drugs. [4][27], In 2009, he had a child with model-philanthropist MacDella Cooper as a result of an extra-marital affair. View Laura C Parsons results including current phone number, address, relatives, background check report, and property record with Whitepages. Parsons also worked on the transition team for Michael Bloomberg, who was elected Mayor of New York City in 2001. Beginning his legal career as an aide on New York governor Nelson Rockefellers legal staff, Parsons made a very favorable impression on the governor. He received a B.A. Black Enterprise, 25 (October 1994): 69-76. In 1968, Parsons married Laura Ann Bush, a community activist with a doctorate in child psychology, who he met at the University of Hawaii. I know the bank is in good hands.. Jet (December 24, 2001): p. 6. 11. His journey to future success was given some impetus by his girlfriend at the time, Laura Bush, who became his wife in 1968. Parsons became a partner in just two years at Patterson, Belknap, Webb & Tyler, a move that typically demanded seven years. In the same Business Week interview, the CEO revealed, "I take this job seriously. Mehta, Stephanie. Smith, Jessie Carney, ed. DETAILS. 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." ." [27], In 2015, Parsons was diagnosed with multiple myeloma, a rare form of blood cancer. 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. [3], Parsons was born to an African-American family in Brooklyn, New York City, on April 4, 1948. agreed that friendly giant Richard Parsons had been just what the fractured titan needed. Memberships: Member of presidential Drug Task Force; chairman, Wildcat Service Organization. Retrieved February 23, 2023 from Encyclopedia.com: https://www.encyclopedia.com/education/news-wires-white-papers-and-books/parsons-richard-dean-1948. 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. 2008 redeem team starting 5; who is sarah davis married to; Wall Street Journal, May 8, 1990, p. B10; January 30, 1995, pp. AOL Time Warner's various operating units were still far from achieving a full integration. Left to my own devices, I dont feel any compulsion to strive, he told the New York Times in 1990. 1946 http://www.ford.utexas.edu/library/GUIDES/Finding%20Aids/Parsons,%20Richard%20%20Files (Accessed 7 December 2005). Contemporary Black Biography. In 2001 Parsons was named the successor to AOL Time Warners CEO, Gerald Levin, who was retired in May of 2002. 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. Time (December 17, 2001). 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. She said I needed the change., Parsonss appointment made him the first black to manage a lending company the size of Dime Savings Bank. Nationality: American. 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. Chairman and chief executive officer, Goldman, Sachs & Company Kathleen Ryan served as an assistant to Parsons for a few weeks after she joined the Domestic Council in April, 1975. DI, D6. Parsons answered these reservations by promising to devote his full attention to his new $525,000-a-year post. 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." 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. CNET News.com (April 3, 2002) http://news.com.com/2009-1023-873910.html (accessed on July 29, 2004). 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