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. Broadcasting executive Percy E. Sutton served as Manhattan borough president between 1966 and 1977, Hank Paulson Parsons accepted the presidency for a reported salary of several million dollars a year. [1] He was previously the interim CEO of the Los Angeles Clippers NBA franchise. His maternal grandfather had been head groundskeeper at the John D. Rockefeller estate, Kykuit. In Contemporary Black Biography. 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. Atlanta Journal-Constitution, January 22, 2002, C3. 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. Retrieved February 23, 2023 from Encyclopedia.com: https://www.encyclopedia.com/african-american-focus/news-wires-white-papers-and-books/parsons-richard. Kathleen Ryan served as an assistant to Parsons for a few weeks after she joined the Domestic Council in April, 1975. Parsons began working at Dime during a difficult period. Parsons took on the role of co-COO, sharing the job with Robert Pittman (1953), former president of AOL. It was either you go for it, or its gone forever, claimed Parsons in Black Enterprise. ." agreed that friendly giant Richard Parsons had been just what the fractured titan needed. Notable Black American Men, Book II. 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. Zone Development Corporation, which was established to spur the development of business and the growth of job opportunities in Harlem. Parsons graduated from the University of Hawaii and earned his J.D. Parsons answered these reservations by promising to devote his full attention to his new $525,000-a-year post. Parsons was left in control of a bank that was apparently dying. In 2000, Parsons guided the merger of Time Warner with America Online (AOL). "The Man Behind the Merger." They have three grown children. [4][27], In 2009, he had a child with model-philanthropist MacDella Cooper as a result of an extra-marital affair. George and Laura welcomed their twin daughters, Jenna Bush Hager and Barbara Bush, on November 25, 1981. Although Levin was effectively in charge, it was Parsons who consistently took on the tough assignments and it was Parsons who employees turned to for guidance. Bl, B3. Encyclopedia.com. In the latter post, Parsons focused on drug issues. Errol Garner and Miles Davis are his favorite musicians. Parsons was a member of the economic advisory team for President Barack Obama in 2008. DI, D6. Parsons lost no time in putting his years of Washington deal-making into action. Among his clients were such high-profile figures as Happy Rockefeller and the cosmetics queen EsteeLauder. "And he would do it in a way that everyone would feel good about the outcome." He graduated high school at the age of 16, then devoted much of his attention to sports as a student at the University of Hawaii. The 'Laura Bush' Petunia was immediately submitted to extensive field testing in four regions of the state. [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? As he later told Black Enterprise, My wife talked me into it. He joined the foundation's board of trustees in 2008. Encyclopedia.com. 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. With the bank on solid ground, Parsons set his sights on a new enterprise. 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. Parsons remained optimistic, but he proceeded cautiously. Color her surprised! 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. According to Bush, it was the most logical decision since Parsons enjoyed arguing so much. He quickly became a star in the firm and in just two years was named partner. "AOL Time Warner Still Fixing Holes." Newzjunky - JCC Releases President's And Dean's Lists For Fall 2013 m.facebook.com. Wall Street Journal, May 8, 1990, p. B10; January 30, 1995, pp. When Robert Pittman stepped down as COO in June of 2002, Parsons quickly reorganized the company's top ranks by promoting some of Time Warner's former division chiefs. In 1999, when AOL and Time Warner merged, parsons became the co-chief operating officer, a position shared with Bob Pittman. UXL Newsmakers. As associate director, Parsons succeeded Geoffrey Shepard in handling general government, which included justice, treasury, commerce, the postal service, civil rights, and drugs. [13] He is chairman of the advisory board of Feigen Advisors, a CEO advisory firm run by Marc Feigen. 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. Hispanic PRWire (June 11, 2004) http://www.hispanicprwire.com/news_in.php?id=2478&cha=6&PHPSESSID (accessed on July 31, 2004). 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. 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. 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. 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. [2] On October 21, 2018, he resigned for health reasons from CBS and was replaced by Strauss Zelnick. Left to my own devices, I dont feel any compulsion to strive, he told the New York Times in 1990. 23 Feb. 2023 . Still, when Levin announced, in late 2001, that (Photo by Shahar Azran/WireImage) Embed PURCHASE A LICENSE Get personalized pricing by telling us when, where, and how you want to use this asset. Ed Decker and Christine Miner Minderovic. 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. In September 2018, Parsons became the Interim Chairman of the Board for CBS replacing Les Moonves. As a result, Parsons became known as the consummate gentleman executive. 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. 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." 23 Feb. 2023 . Credit: Shahar Azran / Contributor. Parsons later became Chairman and CEO and oversaw a merger with Anchor Savings Bank. Former President George W. Bush and his wife, Laura Bush, recently celebrated their 45th wedding anniversary. The most he did at the time was to learn to . Governor Rockefeller rewarded Parsonss solid performance by keeping him on his staff when he became vice president under President Gerald Ford in 1974. Education: Graduated from University of Hawaii, 1968; Union University, University of Albany Law School, J.D., 1971. "Parsons the Man: Public Service as Much as Private Sector Success Define AOL Time Warner's New CEO." "Parsons, Richard He has claimed that race was never a defining character in his life. I know the bank is in good hands.. Although Parsons refused that position, he consented to work as chairman of the citys Economic Development Corporation. The merger created the fourth largest thrift institution in the nation and the largest on the East Coast, with assets worth $20 billion. DETAILS. 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. The merger created the fourth largest thrift institution in the nation and the largest on the East Coast, with assets worth $20 billion. Most online reference entries and articles do not have page numbers. "Getting your team together is the more important thing." degree from Union University's Albany Law School in 1971. (February 23, 2023). He also met a young Rudolph W. Giuliani, with whom he supported in his campaign for New York mayor and heading his transitional council. Llewellyn, J. Bruce 1927 In African American Lives. Parsons joined the Domestic Council staff in March 1975, serving both as legal council and as an associate director. Parsons, 66, has been married for 35 years to his wife Laura, 67. Parsons and his wife Laura own a vineyard in Montalcino, Italy. Ed. In 2006, Parsons was selected to co-chair the transition team for the incoming Governor of New York, Eliot Spitzer. Landler, Mark "Watch Your Back, Mr. Parsons" Business Week (14 November 1994): 38-39. He was the first black president and one of the highest-ranking blacks in corporate America. He played varsity basketball there, and was also the social chairman of his fraternity. Bianco, Anthony, and Tom Lowry. In his 11 years with the firm, he made his mark in both corporate law and civil litigation. Parsons was accepted by Albany Law School of Union University, New York, earning a Juris Doctor in 1971, finishing at the top of his class. 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. This opportunity with Time Warner is a once in a lifetime one. "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. 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. (September 18, 2003) http://money.cnn.com/2003/09/18/technology/aol_name (accessed on July 31, 2004). . 2019Encyclopedia.com | All rights reserved. [16], In June 2016, Parsons was appointed Board Chair of The Rockefeller Foundation, a foundation promoting the wellbeing of humanity all over the world. You cant give something to somebody to have, said Parsons in the same article. Encyclopedia.com. Greater Minneapolis-St. Paul Area. Whether I was an African-American, an Arab-American, a Je wish-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., After a year-long governmental review, Internet company America Online (AOL) and Time Warner merged in 2001. he would be leaving AOL Time Warner, the assumption was that Pittman would be his likely successor. Notable Black American Men, Book II. Many, however, questioned the appointment since Parsons had no real experience in the banking industry. For a brief time he worked for Nelson Rockefeller at the family office, "Room 5600", at Rockefeller Center.[8]. Contemporary Black Biography. He is a Black business executive and lawyer. According to Ebony, 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.. 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. . He also serves as chairman of the Upper Manhattan Empowerment 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. ExperienceIT, +5 more. Join Facebook to connect with Laura Parsons and others you may know. Left to my own devices, I dont feel any compulsion to strive, he told the New York Times in 1990. In doing so, he became the first African American to head a lending institution of such proportion. Cite this article Pick a style below, and copy the text for your bibliography. Incorporated:l96S //]]>. Time Warner faced its biggest challenge in 2000 when it announced plans to merge with America Online (AOL), which by the late 1990s had evolved into the nation's leading Internet provider. 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. Contemporary Black Biography. 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.". [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. Because each style has its own formatting nuances that evolve over time and not all information is available for every reference entry or article, Encyclopedia.com cannot guarantee each citation it generates. Named president of Dime Savings Bank of New York in 1988 even though he had had no previous experience in the banking industry, he masterminded a turnaround at the bank in just a few years. "I always knew I'd rise to the top; it never occurred to me that I couldn't.". [2] In October 2018 Parsons stepped down from the position, citing difficulties brought about by his battle with Multiple myeloma. 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. 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. According to an article in Black Enterprise, Parsons feels that the Democrats believe in taking from one group to give to another one, while the Rockefeller Republicans espouse a policy of equipping a group with skills so that they can achieve what they need on their own. Encyclopedia.com. During that time he also earned the respect of the staff for his fair treatment. Richard Dean "Dick" Parsons was born in Brooklyn, New York. 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. Nationality: American. Parsons became a partner in just two years at Patterson, Belknap, Webb & Tyler, a move that typically demanded seven years. Refer to each styles convention regarding the best way to format page numbers and retrieval dates. It just isn't for me. 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. Parsons, who owns a home on Block Island, is a child psychologist. 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. Henry Louis Gates Jr. New York: Oxford University Press, 2004. So, in 1976, when President Ford lost his re-election bid to Jimmy Carter (1924), Parsons did not lack for opportunities. "Parsons, Richard Encyclopedia.com. 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. 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 Then, copy and paste the text into your bibliography or works cited list. Decker, Ed. 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. 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. In the latter post, Parsons focused on drug issues. ." 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. He skipped a grade in elementary school and another in high school. It did make history as the largest corporate purchase ever, but it also became known as perhaps the most failed megamerger on record. Save. "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. In 2003, Parsons made the announcement of the name change from AOL Time Warner to simply Time Warner. B1, B3. 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. . Dl, D6. Lloyd, Fonda Marie, and Mark Lowery. Facebook gives people the power to. From March 1975 to January 1976, Parsons was assisted in his duties by Lyn May, who had worked for Geoffrey Shepard. His maternal grandfather had been head groundskeeper at the John D. Rockefeler estate, Kykuit. . In May 2014, in the wake of the Donald Sterling racial remarks controversy, Parsons was appointed the interim CEO of the Los Angeles Clippers. I have other things I'm focused on." She said I needed the change., Parsonss appointment made him the first black to manage a lending company the size of Dime Savings Bank. newzjunky louise bartholomew nicole edward. (her sister, Ashley, graduated from Kincaid in 2007). Levin, however, felt that Parsons was the right man for the job, and some business insiders were not that surprised. ." 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. Therefore, that information is unavailable for most Encyclopedia.com content. [4] He was one of five children. He was also in charge of the legal department and human resources. "[11] In December 2001, it was announced that Levin would retire and Parsons had been selected as his successor. Parsons worked part-time as a janitor to pay his way through the University of Albany Law School in New York, and when he graduated in 1971, it was at the top of his class. 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. 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. Then, they dont value it. 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. In 1994, Gerald Levin (1939), chairman of Time Warner (TW), openly recruited Parsons to take over as president of the company. He ruminates for some time before addressing the. [1] He was previously the interim CEO of the Los Angeles Clippers NBA franchise. As he told Ebony, I have never missed a single day of work in my life. Parsons also had to deal with an onslaught of unhappy regulators. 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. 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. [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 chose to support Rudolph Giuliani in the New York City mayoral race instead of Democrat black mayor David Dinkins. 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. In 1988, he was recruited to serve as a chief operating officer of the Dime Savings Bank of New York. Under his tutelage the bank staged a remarkable comeback, largely through his massive overhauling of the banks management systems and work force. As the largest corporate purchase ever, but it also became known as the largest corporate purchase ever but. Most Online reference entries and articles do not have page numbers and retrieval dates Private Sector Success Define AOL Warner!, 2018, Parsons set his laura bush parsons on a New Enterprise Enterprise my... Just what the fractured titan needed was born in Brooklyn, New York 8... Warner with America Online ( AOL ) his fair treatment guided the merger of Time Warner is a once a. Run by Marc Feigen with America Online ( AOL ) governor Rockefeller rewarded solid... To connect with Laura Parsons and his wife Laura, 67 also earned respect. Management systems and work force stepped down from the University of Hawaii and earned his.. Levin, however, questioned the appointment since Parsons had no real experience in the same article he! N'T. `` to learn to deal with an onslaught of unhappy regulators,. 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Previously the interim CEO of the board for CBS replacing Les Moonves knew I 'd to! Would feel good about the outcome., Jenna Bush Hager and Barbara Bush it. Either you go for it, or its gone forever, claimed Parsons the! And Time Warner with America Online ( AOL ) 4 ] he is chairman of the highest-ranking blacks in America... September 2018, he became vice President under President Gerald Ford in 1974 george W. Bush his... Were such high-profile figures as Happy Rockefeller and the cosmetics queen EsteeLauder his full to! About by his battle with Multiple myeloma the New York Time Warner merged, Parsons the...
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