Certain corporations come to bear the impress of a sin, 19082007 Richard D. Parsons, Counsel and Associate Director for Justice, Civil Rights, Drugs and Consumer Affairs: Files, 197477. 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. 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.. 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. Governor Rockefeller rewarded Parsonss solid performance by keeping him on his staff when he became vice president under President Gerald Ford in 1974. Addresses: Office AOL Time Warner, 75 Rockefeller Plaza, New York, NY 10019. council and then as associate director of the domestic council. He also met a deputy attorney general, Harold R. Tyler, and one of his aides, a young Rudolph W. Giuliani, with whom he was to be closely associated supporting him in his campaign for New York mayor and heading his transitional council.[8]. [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? Laura Bush petunia at President George Bushs Crawford Ranch 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. 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. Over the years Parsons has, however, admitted the possibility of entering politics later in life. In 2009, he had a child with model-philanthropist MacDella Cooper due to an extra-marital affair. In fact, in 1995 he was key in orchestrating the successful merger between the Dime and Anchor Savings Bank. The Dimes' nonperforming assets were nearly 11 percent of the total assets by year 1991 in addition to $1 billion in bad debt. (February 23, 2023). 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. He frequently downplays race as a factor or handicap in his success. Greater Minneapolis-St. Paul Area. In Contemporary Black Biography. "[11] In December 2001, it was announced that Levin would retire and Parsons had been selected as his successor. 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. Lauren Bush Lauren was born on June 25, 1984 in Texas, USA. After Giuliani was elected, he named Parsons to be head of his transition council. Richard Dean "Dick" Parsons was born in Brooklyn, New York. . ." UXL Newsmakers. In addition, Parsons states that his rules for success include believing in yourself, acquiring necessary skills, and outworking the next guy. Parsons took on the role of co-COO, sharing the job with Robert Pittman (1953), former president of AOL. "Can Dick Parsons Rescue AOL Time Warner?" Llewellyn, J. Bruce 1927 . [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. This political stance was consistent with his rejection of the Democrats philosophy. 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. "Getting your team together is the more important thing." He played varsity basketball there, and was also the social chairman of his fraternity. "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. As he once told the New York Times, as reported by CNNMoney.com, "For a lot of people race is a defining issue. Business Week Online.http://www.buisnessweek.com/magazine/content/03_20/b3833001_m2001.htm (Accessed 2 December 2005). Parsons assumed his post as president of Time Warner in January of 1995, a job that came with a reported multi-million dollar salary. Refer to each styles convention regarding the best way to format page numbers and retrieval dates. In 2001, George W. Bush selected Parsons to co-chair a commission on Social Security. In May 2014, in the wake of the Donald Sterling racial remarks controversy, Parsons was appointed the interim CEO of the Los Angeles Clippers. George and Laura welcomed their twin daughters, Jenna Bush Hager and Barbara Bush, on November 25, 1981. [CDATA[ 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 B1, B3. 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. The conglomerate was also saddled with significant debt. It did make history as the largest corporate purchase ever, but it also became known as perhaps the most failed megamerger on record. DETAILS. . Therefore, be sure to refer to those guidelines when editing your bibliography or works cited list. Broadcasting executive Percy E. Sutton served as Manhattan borough president between 1966 and 1977, Hank Paulson Black Enterprise, October 1994, pp. "Richard D. Parsons Named New CEO of AOL Time Warner." You cant give something to somebody to have, said Parsons in the same article. 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. (2 minutes) Former President George W. Bush, 74, is the author of "Out of Many, One: Portraits of America's Immigrants" (Crown). Detroit, Mich.: Gale Research, 1996. "Can a Nice Guy Run This Thing?" University of Minnesota - Twin Cities, Minneapolis, Carlson School of Management, +1 more. Graduated from Princeton University in 2006 . Ed Decker and Christine Miner Minderovic. He also set out to streamline the bank's operations. Therefore, that information is unavailable for most Encyclopedia.com content. 2019Encyclopedia.com | All rights reserved. I exist apart from this job.". In his spare time he enjoys shooting pool and listening to music. I like to be with the troops.. ." He quickly became a star in the firm and in just two years was named partner. . [15], In 2007, Parsons became the chairman of the board of directors of the Jazz Foundation of America. 23 Feb. 2023 . Lauren Bush in New York Bush was signed with Elite Model Management before launching FEED. Eds. 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. After graduation, he attended college at the University of Hawaii, where he excelled both academically and socially; Parsons was a varsity basketball player and the social chairman of his fraternity. Within the Cite this article tool, pick a style to see how all available information looks when formatted according to that style. Encyclopedia.com. Landler, Mark "Watch Your Back, Mr. Parsons" Business Week (14 November 1994): 38-39. Parsons answered these reservations by promising to devote his full attention to his new $525, 000-a-year post. He joined the foundation's Board of Trustees in 2008. And most O de wurl aint flat,An de wurl aint roun,Hits one long stripHangin up an downJes Souf an Norf;Jes Norf an Souf. [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. *Richard Parsons was born on this date in 1948. 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. It was either you go for it, or its gone forever, claimed Parsons in Black Enterprise. [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. He has claimed that race was never a defining character in his life. 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." 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. Contemporary Black Biography. Newsweek (January 24, 2000): p. 36. Peter J. Chairman and chief executive officer, Goldman, Sachs & Company . [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. According to Better Chance president Sandra Timmons, as quoted by Hispanic PRWire, "Richard Parsons serves as a role model for aspiring executives of all races, but his success has earned him a special leadership role among African Americans.". University of Hawaii System.http://www.hawaii.edu/offices/bor/honorary/php?person=RP (Accessed 2 December 2005). In 2006, Parsons was selected to co-chair the transition team for the incoming Governor of New York, Eliot Spitzer. UXL Newsmakers. They have three grown children: Gregory, Leslie, and Rebecca. She said I needed the change., Parsonss appointment made him the first black to manage a lending company the size of Dime Savings Bank. 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. 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. 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." 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. By the mid-2000s, however, analysts reported that Time Warner was on a definite upswing: employee morale was high, investors were newly confident, and the monstrous debt had been significantly slashed. 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. 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 was profiled in Black Enterprise's "Under 30 & Moving Up"' series in 1975. [3], Parsons was born to an African-American family in Brooklyn, New York City, on April 4, 1948. Parsons became a partner in just two years at Patterson, Belknap, Webb & Tyler, a move that typically demanded seven years. (September 18, 2003) http://money.cnn.com/2003/09/18/technology/aol_name (accessed on July 31, 2004). 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. Observer, (London, England) December 9, 2001, p. 4. 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. After taking on the job of chairman and chief executive officer (CEO) of the Dime in 1990, Parsons continued to set the bank on its comeback course. Parsons credits his father with teaching him to concentrate on achievement rather than dwell on race. Stock Index: New York 38, 39. 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. Save. "Parsons Faces Major Test in Unifying AOL Time Warner." 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. Richard Dean Parsons was born on April 4, 1948, in Brooklyn, New York. Parsons was a member of the economic advisory team for President Barack Obama in 2008. In 1977, Parsons in New York, a partner at the Patterson Belknap Webb & Tyler law firm. Dr. Larry Stein, another Extension horticulturist, has added further to the color scale with a glowing Purple Laura Bush. 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 [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. As he later told Black Enterprise, My wife talked me into it. "Parsons, Richard The Parsons appointment was not without controversy at Time Warner. http://www.ford.utexas.edu/library/GUIDES/Finding%20Aids/Parsons,%20Richard%20%20Files (Accessed 7 December 2005). "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. As he told Ebony, I have never missed a single day of work in my life. "Time Warner's Chairman and CEO Richard D. Parsons Honored by a Better Chance." During that time he also earned the respect of the staff for his fair treatment. 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 played varsity basketball there, and was also the social chairman of his fraternity. 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