Eds. Facebook gives people the power to. "Honorary Degrees Conferred by the University of Hawaii." Contemporary Black Biography. (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. ." That same year, he scored the highest marks out of the nearly four thousand lawyers who took the New York State bar examination. In his 11 years with the firm, he made his mark in both corporate law and civil litigation. Farmington Hills, Mich.: Thomson Gale, 2003. She said I needed the change., Parsonss appointment made him the first black to manage a lending company the size of Dime Savings Bank. "The Man Behind the Merger." [2] In October 2018 Parsons stepped down from the position, citing difficulties brought about by his battle with Multiple myeloma. Encyclopedia.com. Standing at 6 feet 4 inches, with broad shoulders, he is a physically impressive man who could fill any boardroom. Parsons is also on the board of the family-created Museum of Modern Art. Decker, Ed; Minderovic, Christine "Parsons, Richard Dean 1948 In 2006, Parsons selected to co-chair the transition team for the incoming Governor of New York, Eliot Spitzer. as vice president, Parsons was invited along. In addition, thanks to an industry-wide technology slump, AOL, which had promised big revenues, had failed to deliver. 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. 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. Richard D. Parsons, Counsel and Associate Director for Justice, Civil Rights, Drugs and Consumer Affairs: Files, 197477. Hu, Jim. 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. Peter J. While in Hawaii, he also met his future wife, Laura Bush. CNNMoney.com. 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, 66, has been married for 35 years to his wife Laura, 67. Director of Business Operations at ExperienceIT. He became an advisory trustee of the family's principal philanthropy, the Rockefeller Brothers Fund, and he sits with David Rockefeller on the board of the World Trade Center Memorial Foundation. In 1968, Parsons married Laura Ann Bush, a community activist with a doctorate in child psychology, who he met at the University of Hawaii. McClellan, Steve. 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. Laura Bush petunia at President George Bushs Crawford Ranch With the bank now on solid financial ground, he engineered a merger with Anchor Savings Bank to create Dime Bancorp in early 1995. The merger was made official in 2001, when AOL purchased Time Warner for a reported $168 billion. He received a juris doctorate from the Union University, University of Albany Law School in 1971. . "Reeling Like a Bad Movie: AOL Time Warner." In the May 1975 reorganization, his area of responsibility was divided, and Parsons became associate director for justice, crime, civil rights, and communications (communications was transferred to F. Lynn May in January of 1976). [8] He helped negotiate the company's merger with America Online in 2000, creating a $165-billion media conglomerate[10] that is "usually described as the worst merger of all time. 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.. 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. 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. This opportunity with Time Warner is a once in a lifetime one. [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. In the same Business Week interview, the CEO revealed, "I take this job seriously. 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. Parsons became a partner in just two years at Patterson, Belknap, Webb & Tyler, a move that typically demanded seven years. [9], Parsons was chairman of Citigroup from February 23, 2009[12] until April 2012 when he was replaced by Michael O'Neill. Parsons refused the position but consented to work as the Economic Development Corporation chairperson. In this case, Parsons was forced to tap into both sides of his personality. 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. ." To the extent that we've lost credibility, repairing it is important." "And he would do it in a way that everyone would feel good about the outcome." In just a few years he reduced the Dimes $1 billion in bad debts to $335 million. 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. 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. 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. J. Bruce Llewellyns career history might be viewed as a virtual microcosm of twentieth-century minority, Attorney, broadcasting executive, elected official Broadcasting executive Percy E. Sutton served as Manhattan borough president between 1966 and 1977, Hank Paulson Stock Index: New York 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. Decker, Ed; Minderovic, Christine "Parsons, Richard Dean 1948 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 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." Encyclopedia.com. 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. Notable Black American Men, Book II. 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." He played varsity basketball there, and was also the social chairman of his fraternity. 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. Incorporated:l96S newzjunky louise bartholomew nicole edward. "Getting your team together is the more important thing." 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. AOL Time Warner's various operating units were still far from achieving a full integration. 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. did desi arnaz jr have a stroke; moose tracks vs cow tracks ice cream He also serves as chairman of the Upper Manhattan Empowerment (February 23, 2023). Wall Street Journal, May 8, 1990, p. B10; January 30, 1995, pp. 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. From March 1975 to January 1976, Parsons was assisted in his duties by Lyn May, who had worked for Geoffrey Shepard. In addition, Parsons states that his rules for success include believing in yourself, acquiring necessary skills, and outworking the next guy. Richard Dean Parsons was born on April 4, 1948, in Brooklyn, New York. He later attended the University of Hawaii at Manoa, where he played varsity basketball. http://www.ford.utexas.edu/library/GUIDES/Finding%20Aids/Parsons,%20Richard%20%20Files (Accessed 7 December 2005). Three years later, in 1991, he was invited to join Time Warner's board; he subsequently became president of the company in 1995 and helped negotiate the company's merger with America Online in 2000. 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. 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. This political stance was consistent with his rejection of the Democrats philosophy. 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. His tactics paid off, and in just a few years, Parsons had reduced the amount of the Dime's bad debts from $1 billion to $335 million. Save. [4] He was one of five children. 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. The 'Laura Bush' Petunia was immediately submitted to extensive field testing in four regions of the state. According to Bush, it was the most logical decision since Parsons enjoyed arguing so much. Parsons credits his father with teaching him to concentrate on achievement rather than dwell on race. 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. "I always knew I'd rise to the top; it never occurred to me that I couldn't.". 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. After Giuliani was elected, he named Parsons to be head of his transition council. UXL Newsmakers. 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. Although Parsons refused that position, he consented to work as chairman of the citys Economic Development Corporation. Newzjunky - JCC Releases President's And Dean's Lists For Fall 2013 m.facebook.com. It was either you go for it, or its gone forever, claimed Parsons mBlack Enterprise.Its not a bad time for me to make a move. 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. Still, when Levin announced, in late 2001, that "I didn't have to think twice about it. 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. 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. Encyclopedia.com. George and Laura welcomed their twin daughters, Jenna Bush Hager and Barbara Bush, on November 25, 1981. Parsons also worked on the transition team for Michael Bloomberg, who was elected Mayor of New York City in 2001. "Richard Parsons: Profile." You cant give something to somebody to have, said Parsons in the same article. [2] On October 21, 2018, he resigned for health reasons from CBS and was replaced by Strauss Zelnick. I exist apart from this job.". Beginning his legal career as an aide on New York governor Nelson Rockefellers legal staff, Parsons made a very favorable impression on the governor. Parsons answered these reservations by promising to devote his full attention to his new $525, 000-a-year post. His journey to future success was given some impetus by his girlfriend at the time, Laura Bush, who became his wife in 1968. Los Angeles Times, January 13, 2001, p. C1; December 6, 2001, p. C1. In September 2018, Parsons became the Interim Chairman of the Board for CBS replacing Les Moonves. 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. Advertisement. Therefore, its best to use Encyclopedia.com citations as a starting point before checking the style against your school or publications requirements and the most-recent information available at these sites: http://www.chicagomanualofstyle.org/tools_citationguide.html. Birthplace: Brooklyn, NY Gender: Male Race or Ethnicity: Black Sexual orientation: Straight Occupation: Business Nationality: United States Executive summary: CEO of Time Warner, 2002-07 Wife: Laura Bush Parsons (three children) Mistress: MacDella Cooper (model, one daughter) Daughter: Ella (b. Aug-2008 with Cooper) (her sister, Ashley, graduated from Kincaid in 2007). Parsons credits his experiences at the University of Hawaii as preparation for his future in corporate America. Retrieved February 23, 2023 from Encyclopedia.com: https://www.encyclopedia.com/education/news-wires-white-papers-and-books/parsons-richard-dean-1948. 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. Decker, Ed "Parsons, Richard Dean 1948 [4][27], In 2009, he had a child with model-philanthropist MacDella Cooper as a result of an extra-marital affair. In Contemporary Black Biography. 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 did make history as the largest corporate purchase ever, but it also became known as perhaps the most failed megamerger on record. "[11] In December 2001, it was announced that Levin would retire and Parsons had been selected as his successor. Its a statement by and to corporate America that there are no more areas where African Americans havent succeeded, he told the New York Times in 1990. Parsons was born in the economically disadvantaged Bedford-Stuyvesant neighborhood of Brooklyn, New York on April 14, 1948 to Lorenzo Locklair, an airline technician (who installed and repaired electronic navigation systems for the Sperry Rand Company), and Isabelle Judd Parsons (a homemaker). Notable Black American Men, Book II. Its a statement by and to corporate America that there are no more areas where African Americans havent succeeded, he told the New York Times in 1990. In 2001, United States President George W. Bush selected Parsons to co-chair a commission on Social Security. "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. 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. 23 Feb. 2023
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