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. (February 23, 2023). ." Nationality: American. 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. [27], In 2015, Parsons was diagnosed with multiple myeloma, a rare form of blood cancer. As a result, the company struggled to maintain its credibility, its stock prices tumbled, and it faced $27 billion in debt. With a calm, cool-headed resolve, he doggedly tackled the problems that lay ahead. Join Facebook to connect with Laura Parsons and others you may know. Although Parsons refused that position, he consented to work as chairman of the citys Economic Development Corporation. 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. UXL Newsmakers. Time Warners record division was experiencing difficulty, and company officials were suspicious about the designs of Edgar Bronfman of the Seagram Companies, which owned 15 percent of the companys stock. As he told Ebony, I have never missed a single day of work in my life. Parsons took on the role of co-COO, sharing the job with Robert Pittman (1953), former president of AOL. degree from Union University's Albany Law School in 1971. 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. (February 23, 2023). Parsons is also on the board of the family-created Museum of Modern Art. 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 "He intellectualizes outcomes and gets people to agree with his outcomes." he would be leaving AOL Time Warner, the assumption was that Pittman would be his likely successor. Parsons, who owns a home on Block Island, is a child psychologist. They have three grown children: Gregory, Leslie, and Rebecca. AOL Time Warner's various operating units were still far from achieving a full integration. They credit him with keeping employees informed every step of the way, producing videos for employee distribution. 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." 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. cronin friend betty barb grand cortopassi Decker, Ed; Minderovic, Christine "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. Dl, D6. 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. Right after graduating in 1968, Bush wasn't doing anything concrete. 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. In Contemporary Black Biography. "Can Dick Parsons Rescue AOL Time Warner?" Richard Dean "Dick" Parsons was born in Brooklyn, New York. ." Later that year, it was announced that Parsons had been selected as CEO of America Online. During that time he also earned the respect of the staff for his fair treatment. 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. "And he would do it in a way that everyone would feel good about the outcome." Richard Dean Parsons, CEO and president of the AOL-Time Warner Corporation, emerged through academic and corporate circles to become one of the most successful African Americans in corporate America. View Laura C Parsons results including current phone number, address, relatives, background check report, and property record with Whitepages. Named president of Dime Savings Bank of New York in 1988 even though he had no previous experience in the banking industry, he masterminded a turnaround at the bank in just a few years. CNNMoney.com. It did make history as the largest corporate purchase ever, but it also became known as perhaps the most failed megamerger on record. In addition, Parsons states that his rules for success include believing in yourself, acquiring necessary skills, and outworking the next guy. 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. Parsons was left in control of a bank that was apparently dying. The merger created the fourth largest thrift institution in the nation and the largest on the East Coast, with assets worth $20 billion. Parsons refused the position but consented to work as the Economic Development Corporation chairperson. ExperienceIT, +5 more. 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. 23 Feb. 2023 . "Parsons, Richard He was involved in sports at the University of Hawaii; the six-foot-four-inch Parsons played basketball, was the social chairman of his fraternity, but was unenthusiastic about academics. Decker, Ed. Beginning his legal career as an aide on New York governor Nelson Rockefellers legal staff, Parsons made a very favorable impression on the governor. 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 this case, Parsons was forced to tap into both sides of his personality. [24], Parsons was a member of the economic advisory team for President Barack Obama. The two met when Bush was still an aimless youth with no real idea of what he would be doing with his life. 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. Many, however, questioned the appointment since Parsons had no real experience in the banking industry. as vice president, Parsons was invited along. In 1988, he was recruited to serve as a chief operating officer of the Dime Savings Bank of New York. 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. Contemporary Black Biography. 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. In 2000, Parsons guided the merger of Time Warner with America Online (AOL). Laura Bush petunia at President George Bushs Crawford Ranch Assistance League Of Chicagoland West: December 2013 alcw95.blogspot.com. Parsons had no clear idea what direction to take after college, but at the prompting of Laura, he decided to go to law school. [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? Los Angeles Times, January 13, 2001, p. C1; December 6, 2001, p. C1. 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. 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-. 23 Feb. 2023 . After attaining her master's degree in library science at the University of Texas at Austin, she was employed as a librarian. After Giuliani was elected, he named Parsons to be head of his transition council. Incorporated:l96S 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. Parsons also worked on the transition team for Michael Bloomberg, who was elected Mayor of New York City in 2001. 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. https://www.encyclopedia.com/education/news-wires-white-papers-and-books/parsons-richard-dean-1948, Decker, Ed "Parsons, Richard Dean 1948 Regardless, Parsons is consistently applauded by various groups for the inspiration he provides to young people everywhere. In his 11 years with the firm, he made his mark in both corporate law and civil litigation. CNET News.com (April 3, 2002) http://news.com.com/2009-1023-873910.html (accessed on July 29, 2004). Just before Parsons officially took over from Levin in May of 2002, the company posted a quarterly loss of $54 billion, the largest in U.S. history. Parsons was named CEO for AOL Time Warner. Landler, Mark "Watch Your Back, Mr. Parsons" Business Week (14 November 1994): 38-39. He quickly became a star in the firm and in just two years was named partner. Parsons served with the Domestic Council until the end of the Ford administration and returned to New York to work for Governor Nelson Rockefeller. As he told Cohen, "Ideally, you want to underpromise and overdeliver. In a December 2001 press conference, Levin stunned the industry when he named Parsons as AOL Time Warner's next CEO. 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. Employees: 14,500 He served as assistant counsel to Governor Rockefeller from 1971 to 1974 and was called to the New York State bar in 1972. Parsons worked at various odd jobs, including in a parking garage and gas company to support himself while at the University of Hawaii. Black Firsts. He was again entering an industry that was new to him, and some doubted his qualifications. The Dimes' nonperforming assets were nearly 11 percent of the total assets by year 1991 in addition to $1 billion in bad debt. 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. Hispanic PRWire (June 11, 2004) http://www.hispanicprwire.com/news_in.php?id=2478&cha=6&PHPSESSID (accessed on July 31, 2004). 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. 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.". Parson changed his attitude dramatically (from negative to positive) and reached a turning point when he met and later married Laura Ann Bush, a child psychologist, As part of his management restructure, Parsons opted to lay off almost one-third of the Dime's staff. [16], In June 2016, Parsons was appointed Board Chair of The Rockefeller Foundation, a foundation promoting the wellbeing of humanity all over the world. (2 minutes) Former President George W. Bush, 74, is the author of "Out of Many, One: Portraits of America's Immigrants" (Crown). 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. 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. So, in 1976, when President Ford lost his re-election bid to Jimmy Carter (1924), Parsons did not lack for opportunities. View the profiles of people named Laura Parsons. 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." 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. With the bank now on solid financial ground, he engineered a merger with Anchor Savings Bank to create Dime Bancorp in early 1995. The proud parents were by Jenna's side when she married her husband, Henry Hager, in. Parsons, however, was an extremely bright young man, who went on to graduate from high school when he was just sixteen years old. In 2015, Parsons was diagnosed with multiple myeloma, a rare blood cancer. Encyclopedia.com. *Richard Parsons was born on this date in 1948. Lauren Bush Lauren was born on June 25, 1984 in Texas, USA. Isidore, Chris. The 'Laura Bush' Petunia was immediately submitted to extensive field testing in four regions of the state. Parsons is due to mark his 31st wedding anniversary with his wife, the former Laura Ann Bush, in August. Bell, Gregory S., "Richard Dean Parsons." It was a drastic move, but he also kept communications open with his employees every step of the way. Some considered the Parsons appointment at Time Warner to be a significant achievement for black executives, one that helps pave the way for them to enter the highest positions in business. The merger created the fourth largest thrift institution in the nation and the largest on the East Coast, with assets worth $20 billion. 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. Whether I was an African-American, an Arab-American, a Jewish-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.. In 2001, United States President George W. Bush selected Parsons to co-chair a commission on Social Security. 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. Encyclopedia.com. . Save. His journey to future success was given some impetus by his girlfriend at the time, Laura Bush, who became his wife in 1968. Parsons assumed his post as president of Time Warner in January of 1995, a job that came with a reported multi-million dollar salary. Parsons' grandfather, Judd, was a groundskeeper on Pocantico, part of the Rockefeller estate, long before Parsons became a protg of Nelson Rockefeller. X. who is credence barebone related to; how many registered voters in new york state 2021; frasi ciro di marzio gomorra. The conglomerate was also saddled with significant debt. Born: March 28, 1946, in Chicago, Illinois., Public Company "The Man Behind the Merger." newzjunky louise bartholomew nicole edward. 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. Editorial #: In the same Business Week interview, the CEO revealed, "I take this job seriously. [13] He is chairman of the advisory board of Feigen Advisors, a CEO advisory firm run by Marc Feigen. Hayden, Thomas. McClellan, Steve. 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. 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