In mid-2003, he sold off parts of the company that were considered to be noncore assets, including the sports teams, the Atlanta Hawks and Atlanta Thrashers. 23 Feb. 2023 . 2008 redeem team starting 5; who is sarah davis married to; Observer, (London, England) December 9, 2001, p. 4. . In Washington, the young lawyer also worked directly with President Gerald Ford (1913), first as general counsel and then as an associate director of the domestic council. Washington Post, November 1, 1994, p. D5; December 6, 2001, p. EO1. . Retrieved February 23, 2023 from Encyclopedia.com: https://www.encyclopedia.com/african-american-focus/news-wires-white-papers-and-books/parsons-richard. "Time Warner's Chairman and CEO Richard D. Parsons Honored by a Better Chance." 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. 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. Lauren Bush Lauren was born on June 25, 1984 in Texas, USA. Dawn Bennett-Alexander assisted Parsons from March 1976 until the end of the administration. In his 11 years with the firm, he made his mark in both corporate law and civil litigation. "Parsons, Richard The two met when Bush was still an aimless youth with no real idea of what he would be doing with his life. Value is associated with hard work.. 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. He received a B.A. Lauren Bush in New York Bush was signed with Elite Model Management before launching FEED. Business Week Online.http://www.buisnessweek.com/magazine/content/03_20/b3833001_m2001.htm (Accessed 2 December 2005). Cite this article Pick a style below, and copy the text for your bibliography. Parsons later became chairman and CEO[8] and oversaw a merger with Anchor Savings Bank, gaining a substantial sum when the Dime Bank was demutualized. ." Broadcasting & Cable (July 28, 2003): p. 8. 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. https://www.encyclopedia.com/general/culture-magazines/parsons-richard, "Parsons, Richard O de wurl aint flat,An de wurl aint roun,Hits one long stripHangin up an downJes Souf an Norf;Jes Norf an Souf. 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). 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. He also expanded his web of connections, taking on such high-profile clients as Happy Rockefeller (1926), the widow of Nelson Rockefeller, and cosmetics giant Este Lauder. After Giuliani was elected, he named Parsons to be head of his transition council. 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. Fortune (August 8, 2004). window.__mirage2 = {petok:"Olb1PN4AOYQxfgUm1EldB37uVPcj4uBa8eBE3X8k2lQ-86400-0"}; 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. 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. Parsons also remained a committed leader in other areas of public and community service. "I didn't have to think twice about it. Parsons is also on the board of the family-created Museum of Modern Art. https://www.encyclopedia.com/education/news-wires-white-papers-and-books/parsons-richard-dean-1948, Decker, Ed "Parsons, Richard Dean 1948 at the company, and as Gerald Levin's right-hand man. They have three grown children. When Rockefeller was appointed Vice President of the United States, in 1974, Parsons followed him to Washington D.C., where he worked directly with President Gerald Ford. Black Enterprise, October 1994, pp. Although Parsons refused that position, he consented to work as chairman of the citys Economic Development Corporation. http://www.ford.utexas.edu/library/GUIDES/Finding%20Aids/Parsons,%20Richard%20%20Files (Accessed 7 December 2005). AOL Time Warner's various operating units were still far from achieving a full integration. Advertisement. By the end of 1999, it was certified as a Texas Superstar which means it will show superior performance under Texas tough growing conditions in the Earth-Kind landscape. 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. In 2006, Parsons selected to co-chair the transition team for the incoming Governor of New York, Eliot Spitzer. Parsons also had to deal with an onslaught of unhappy regulators. NEW YORK, NY - FEBRUARY 18: L to R: Stephen Byrd and Jessye Norman, Laura Bush Parsons and Richard Parsons attend Apollo Club Harlem at The Apollo Theater on February 18, 2013 in New York City. Richard D. Parsons, Counsel and Associate Director for Justice, Civil Rights, Drugs and Consumer Affairs: Files, 197477. With the bank on solid ground, Parsons set his sights on a new enterprise. As associate director, Parsons succeeded Geoffrey Shepard in handling general government, which included justice, treasury, commerce, the postal service, civil rights, and drugs. He was again entering an industry that was new to him, and some doubted his qualifications. (February 23, 2023). Lloyd, Fonda Marie, and Mark Lowery. 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.". Parsons was urged by Harry Albright Jr. to become the chief operating officer of the Dime Savings Bank in 1988 with a salary of $525,000 annually. Stock Index: New York 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. warren central student killed 2022. She has been featured on the covers of Vogue and Vanity Fair and has frequently modelled for Tommy Hilfiger, as well as for Abercrombie & Fitch and designers Gai Mattiolo and Isaac Mizrahi. [2] On October 21, 2018, he resigned for health reasons from CBS and was replaced by Strauss Zelnick. Dl, D6. Former President George W. Bush and his wife, Laura Bush, recently celebrated their 45th wedding anniversary. For the next six years, he served as the number-two executive 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. Certain corporations come to bear the impress of a sin, 19082007 After four years, he discovered that he could get into a law school in New York if he scored well enough on his pre-law exams. However, the date of retrieval is often important. You cant give something to somebody to have, said Parsons in the same article. He joined the foundation's Board of Trustees in 2008. Parsons remained optimistic, but he proceeded cautiously. [2] In October 2018 Parsons stepped down from the position, citing difficulties brought about by his battle with Multiple myeloma. ", Analysts wondered about the future of AOL even as Parsons continued to play peacemaker, overseeing Monday morning meetings with his various managers and promising harmony between teams. I like to be with the troops.. The Parsons appointment was not without controversy at Time Warner. 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. View the profiles of people named Laura Parsons. An article in Business Week Online stated that after accepting the Time Warner presidency, "Parsons gradually made himself indispensable to Time Warner by taking on tough assignments that the increasingly insular Levin could not do himself." Not one. Also fueling his rise were connections he has made with important people over the years. [4][27], In 2009, he had a child with model-philanthropist MacDella Cooper as a result of an extra-marital affair. Decker, Ed "Parsons, Richard Dean 1948 They have three grown children: Gregory, Leslie, and Rebecca. Farmington Hills, Mich.: Thomson Gale, 2003. Dr. Larry Stein, another Extension horticulturist, has added further to the color scale with a glowing Purple Laura Bush. Under President Gerald Ford, Parsons became a senior White House aide and served as a general counsel and an associate director of the Domestic Council. Greater Minneapolis-St. Paul Area. In his 11 years with the firm, he made his mark in both corporate law and civil litigation. 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-. Decker, Ed; Minderovic, Christine "Parsons, Richard Dean 1948 It was a drastic move, but he also kept communications open with his employees every step of the way. By the mid-1970s Parsons was noted as a rising star among black professionals, and he was profiled in Black Enterprises Under 30 & Moving Up series in 1975. Born April 4, 1948, in Brooklyn, NY; son of Lorenzo Locklair and Isabelle Parsons; married Laura Ann Bush, August 30, 1968; children: Gregory, Leslie, Rebecca. In 2001 Parsons was named the successor to AOL Time Warners CEO, Gerald Levin, who was retired in May of 2002. 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. [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? 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. Parsons, however, was an extremely bright young man, who went on to graduate from high school when he was just sixteen years old. BusinessWeek Online (May 19, 2003) http://www.businessweek.com/magazine/content/03_20/b3833001_mz001.htm (accessed on July 29, 2004). Over the years Parsons has, however, admitted the possibility of entering politics later in life. . With the bank now on solid financial ground, he engineered a merger with Anchor Savings Bank to create Dime Bancorp in early 1995. So, in 1976, when President Ford lost his re-election bid to Jimmy Carter (1924), Parsons did not lack for opportunities. During that time he also earned the respect of the staff for his fair treatment. During his 11 years at the firm, Parsons took on Margaretta Rockefeller, the widow of Nelson (who had died in 1979), as a high-profile client. Parsons answered these reservations by promising to devote his full attention to his new $525, 000-a-year post. 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 . 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 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. Atlanta Journal-Constitution, January 22, 2002, C3. Here, the little . Parsons lost no time in putting his years of Washington deal-making into action. 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. "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. It just isn't for me. In spite of its debt, the company reported an overall increase in revenue (6 percent) in early 2004, thanks to three of the Time Warner divisions: film, cable, and network advertising. Restrictions: Contact your local office for all commercial or promotional uses. as vice president, Parsons was invited along. Parsons also inherited a number of problems when he assumed his new post in January of 1995. Facebook gives people the power to. But, in this case, Parsons sits at the helm of one of the largest media companies in the world, Time Warner. 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. 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 served with the Domestic Council until the end of the Ford administration and returned to New York to work for Governor Nelson Rockefeller. Encyclopedia.com. He became the first African American male to manage a financial institution of Dime's size and reduce the bank's debt from $1 billion to $335 million. 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. 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. As Parsons said in the New York Times in 1994, becoming a part of that Rockefeller entourage created for me a group of people whove looked out for me ever since. Parsons own concern for the underprivileged has been clearly shown by his work as chairman of the Wildcat Service Corporation, which has provided on-the-job instruction for people whose previous crimes, drug addiction, or poverty have made it difficult to find work. 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. The merger created the fourth largest thrift institution in the nation and the largest on the East Coast, with assets worth $20 billion. [7] After four years, he was seven credits short of his diploma. 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 also worked on the transition team for Michael Bloomberg, who was elected Mayor of New York City in 2001. 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. Richard Dean Parsons was born on April 4, 1948, in Brooklyn, New York. Hispanic PRWire (June 11, 2004) http://www.hispanicprwire.com/news_in.php?id=2478&cha=6&PHPSESSID (accessed on July 31, 2004). McClellan, Steve. 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. Governor Rockefeller rewarded Parsonss solid performance by keeping him on his staff when he became vice president under President Gerald Ford in 1974. In 2007, he became the chairman of the board of directors of the Jazz Foundation of America. . "Richard D. Parsons Named New CEO of AOL Time Warner." ." Wall Street Journal, May 8, 1990, p. BIO; January 30, 1995, pp. ." in history from the University of Hawaii in 1968. Ed Decker and Christine Miner Minderovic. In a Black Enterprise article, he openly rejected the Democrats' philosophy of taking from one group to give to another. 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. Black Firsts. Parsons is due to mark his 31st wedding anniversary with his wife, the former Laura Ann Bush, in August. Parsons assumed his post as president of Time Warner in January of 1995, a job that came with a reported multi-million dollar salary. New York Times, May 8, 1990, p. D5; August 26, 1990, p. D5; July 7, 1994, p. D4; October 31, 1994, pp. 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. Parsons, who's been married to psychologist Laura Bush for almost 50 years, acknowledges the pain it caused others and still causes him. 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. Vol. Assets: $47.4 billion //

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