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. [13] He is chairman of the advisory board of Feigen Advisors, a CEO advisory firm run by Marc Feigen. (her sister, Ashley, graduated from Kincaid in 2007). 23 Feb. 2023 . The position placed him second in command over the entire Time Warner holdings in magazine and book publishing, music, film entertainment, theme parks, and cable television. 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. ." . agreed that friendly giant Richard Parsons had been just what the fractured titan needed. 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. I exist apart from this job.". 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. President Ford also used his services, first as a general. 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. Credit: Shahar Azran / Contributor. With the bank now on solid financial ground, he engineered a merger with Anchor Savings Bank to create Dime Bancorp in early 1995. Chairman and chief executive officer, Goldman, Sachs & Company With the bank now on solid financial ground, he engineered a merger with Anchor Savings Bank to create Dime Bancorp in early 1995. ", "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. Fortune (August 8, 2004). Hard work has been a crucial component of the Parsons success story, a value he claims to have learned from his father. Lauren Bush Lauren was born on June 25, 1984 in Texas, USA. Barbara Pierce Bush, daughter of former President George W. Bush and former First Lady Laura Bush, welcomed daughter Cora Georgia in September 2021 with husband Craig Coyne. After attaining her master's degree in library science at the University of Texas at Austin, she was employed as a librarian. 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." 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. 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. Refer to each styles convention regarding the best way to format page numbers and retrieval dates. Dr. Larry Stein, another Extension horticulturist, has added further to the color scale with a glowing Purple Laura Bush. . 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. "Time Warner's Chairman and CEO Richard D. Parsons Honored by a Better Chance." It was either you go for it, or its gone forever, claimed Parsons in Black Enterprise. In April 1976 when Kathleen Ryan left the Domestic Council, responsibility for consumer affairs was given to Parsons' office. Addresses: Office AOL Time Warner, 75 Rockefeller Plaza, New York, NY 10019. council and then as associate director of the domestic council. The merger was made official in 2001, when AOL purchased Time Warner for a reported $168 billion. Hayden, Thomas. His maternal grandfather had been head groundskeeper at the John D. Rockefeler estate, Kykuit. 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. As counsel to the Domestic Council, he worked closely with the Counsel to the President in providing legal guidance in the formulation of domestic policy. Meanwhile, he answered complaints from colleagues at the Dime that he was deserting them. 2008 redeem team starting 5; who is sarah davis married to; Wall Street Journal, May 8, 1990, p. BIO; January 30, 1995, pp. https://www.encyclopedia.com/general/culture-magazines/parsons-richard, "Parsons, Richard The Parsons appointment was not without controversy at Time Warner. Decker, Ed. 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. . [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. Bianco, Anthony, and Tom Lowry. Parsons, 66, has been married for 35 years to his wife Laura, 67. 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. [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? Parsons was a bright child with a gift for charming people by telling entertaining stories. The Dimes' nonperforming assets were nearly 11 percent of the total assets by year 1991 in addition to $1 billion in bad debt. window.__mirage2 = {petok:"Olb1PN4AOYQxfgUm1EldB37uVPcj4uBa8eBE3X8k2lQ-86400-0"}; Graduated from Princeton University in 2006 . Cite this article Pick a style below, and copy the text for your bibliography. Here, the little . Encyclopedia.com. [CDATA[ Memberships: Member of presidential Drug Task Force; chairman, Wildcat Service Organization. He later attended the University of Hawaii at Manoa, where he played varsity basketball. (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. Black Enterprise, 25 (October 1994): 69-76. However, the date of retrieval is often important. Levin had been in negotiations with Steve Case (1958), AOL's CEO, for several years. Mayor Giuliani later asked Parsons to become his Deputy mayor for Economic Development. 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. [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. Laura Bush petunia at President George Bushs Crawford Ranch New York Times, May 8, 1990, p. D5; August 26, 1990, p. D5; July 7, 1994, p. D4; October 31, 1994, pp. Levin, however, felt that Parsons was the right man for the job, and some business insiders were not that surprised. He was raised in the rough neighborhood of Jamaica, New York, a city in Queens County. 23 Feb. 2023 . 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. 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. His maternal grandfather had been head groundskeeper at the John D. Rockefeller estate, Kykuit. He paid his law school expenses by working as a part time janitor and later as an aide in the New York State Assembly. Parsons met Laura, a. In 1988, he was recruited to serve as a chief operating officer of the Dime Savings Bank of New York. Detroit, Mich.: Gale Research, 1996. In a Black Enterprise article, Fonda Marie Lloyd and Mark Lowery stated that "colleagues say Parsons' management style helped smooth painful layoffs (two thousand of the four thousand employees) that he had to make." 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. 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. They have three grown children: Gregory, Leslie and Rebecca. 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. lauren bush david laura miranda kerr coocoo coconut oil marries models. The 'Laura Bush' Petunia was immediately submitted to extensive field testing in four regions of the state. 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. Addresses: Office Time-Warner Inc., 75 Rockefeller Plaza, New York, NY. In the latter post, Parsons focused on drug issues. The announcement surprised many media watchers who expected chief operating officer Robert Pittman to take the helm. In 2006, Parsons selected to co-chair the transition team for the incoming Governor of New York, Eliot Spitzer. It did make history as the largest corporate purchase ever, but it also became known as perhaps the most failed megamerger on record. laura bush parsonsis ora king salmon safe to eat. As a result, the company struggled to maintain its credibility, its stock prices tumbled, and it faced $27 billion in debt. Atlanta Journal-Constitution, January 22, 2002, C3. Bell, Gregory S., "Richard Dean Parsons." 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. Listen to article. Errol Garner and Miles Davis are his favorite musicians. on August 30, 1968. After all, Parsons had sat on the company's board of directors for several years, and had developed close ties with top TW executives. 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. Parsons later became Chairman and CEO and oversaw a merger with Anchor Savings Bank. In contrast, he embraced the Rockefeller Republicans' philosophy of equipping a group with skills so they can achieve what they need on their own. Parsons answered these reservations by promising to devote his full attention to his new $525, 000-a-year post. [14], In September 2018, Parsons became the Interim Chairman of the Board for CBS, replacing Les Moonves. Former President George W. Bush and his wife, Laura Bush, recently celebrated their 45th wedding anniversary. Parsons is due to mark his 31st wedding anniversary with his wife, the former Laura Ann Bush, in August. https://www.encyclopedia.com/african-american-focus/news-wires-white-papers-and-books/parsons-richard, "Parsons, Richard Jet (December 24, 2001): p. 6. [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. 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. Parsons, however, was an extremely bright young man, who went on to graduate from high school when he was just sixteen years old. He was the first black president and one of the highest-ranking blacks in corporate America. And, after taking over as chairman from Steve Case, who stepped down in January of 2003, Parsons went to work to repair the damage from the AOL merger. The two met when Bush was still an aimless youth with no real idea of what he would be doing with his life. Contemporary Black Biography. [1] He was previously the interim CEO of the Los Angeles Clippers NBA franchise. At the same time people speculated about what role Parsons would play in Time Warner's future. 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. 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. 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. ExperienceIT, +5 more. 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. Three years later, in 1991, on the recommendation of Nelson's brother Laurance Rockefeller to the then CEO Steve Ross, Parsons was invited to join Time Warner's board; he subsequently became president of the company in 1995, recruited by chief executive Gerald Levin. He is a Black business executive and lawyer. Judge 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." Parsons refused the position but consented to work as the Economic Development Corporation chairperson. Contemporary Black Biography. . View the profiles of people named Laura Parsons. Governor Rockefeller rewarded Parsonss solid performance by keeping him on his staff when he became vice president under President Gerald Ford in 1974. 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. 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. Newzjunky - JCC Releases President's And Dean's Lists For Fall 2013 m.facebook.com. 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. 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. Skeptics also wondered how Parsons would fare in his new job considering the bank was facing financial ruin. 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. In fact, in 1995 he was key in orchestrating the successful merger between the Dime and Anchor Savings Bank. (February 23, 2023). Lloyd, Fonda Marie, and Mark Lowery. 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