"Parsons, Richard 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. Errol Garner and Miles Davis are his favorite musicians. //]]>. 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. Encyclopedia.com. [6], 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. Then, they dont value it. (September 18, 2003) http://money.cnn.com/2003/09/18/technology/aol_name (accessed on July 31, 2004). According to Bush, it was the most logical decision since Parsons enjoyed arguing so much. 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." 68-70, 72, 76, 77; January 1995, p. 15. Business Week, November 14, 1994, pp. Lauren Bush Lauren was born on June 25, 1984 in Texas, USA. 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. [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 the Man: Public Service as Much as Private Sector Success Define AOL Time Warner's New CEO." As he once told the New York Times, as reported by CNNMoney.com, "For a lot of people race is a defining issue. In 2001 Parsons was named the successor to AOL Time Warners CEO, Gerald Levin, who was retired in May of 2002. 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. Among his clients were such high-profile figures as Happy Rockefeller and the cosmetics queen Estee Lauder. . In his eleven years with Patterson, Parsons cemented his reputation as a skilled negotiator. 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). *Richard Parsons was born on this date in 1948. Parsons refused the position but consented to work as the Economic Development Corporation chairperson. At the same time people speculated about what role Parsons would play in Time Warner's future. 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. His 43 . Stock Index: New York He was also in charge of the legal department and human resources. Decker, Ed; Minderovic, Christine "Parsons, Richard Dean 1948 Los Angeles Times, January 13, 2001, p. C1; December 6, 2001, p. C1. Smith, Jessie Carney, ed. I know the bank is in good hands., 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. 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. B1, B3. In the Washington Post, Levin called Parsons an exceptional business leader with the broad experience, financial acumen and the knowledge of our business that will strengthen and solidify our corporate management., Parsons accepted the presidency for a reported salary of several million dollars a year. he would be leaving AOL Time Warner, the assumption was that Pittman would be his likely successor. 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. In 2006, Parsons was selected to co-chair the transition team for the incoming Governor of New York, Eliot Spitzer. (February 23, 2023). Lloyd, Fonda Marie, and Mark Lowery. [15], In 2007, Parsons became the chairman of the board of directors of the Jazz Foundation of America. Not one. Also fueling his rise were connections he has made with important people over the years. . Farmington Hills, Mich.: Thomson Gale, 2003. Training And Servicing Center. [27], In 2015, Parsons was diagnosed with multiple myeloma, a rare form of blood cancer. He was raised in the rough neighborhood of Jamaica, New York, a city in Queens County. Parsons joined the Domestic Council staff in March 1975, serving both as legal council and as an associate director. In fact, in 1995 he was key in orchestrating the successful merger between the Dime and Anchor Savings Bank. "The Man Behind the Merger." He also earned staff respect at Dime with his fair treatment of personnel. To the extent that we've lost credibility, repairing it is important." Parsons was asked to become the new president of Time Warner by its chairman, Gerald M. Levin, in the fall of 1994. He was again entering an industry that was new to him, and some doubted his qualifications. In 2009, he had a child with model-philanthropist MacDella Cooper due to an extra-marital affair. Greater Minneapolis-St. Paul Area. Judge Parsons was named CEO for AOL Time Warner. Parsons' grandfather, Judd, was a groundskeeper on Pocantico, part of the Rockefeller estate, long before Parsons became a protg of Nelson Rockefeller. Save. on August 30, 1968. in history from the University of Hawaii in 1968. 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. 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. 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 . As one AOL shareholder told Business Week, "Dick is the right guy to be running the company right now." Get our quarterly newsletter to stay up-to-date, plus all speech or video narrative bookings near you as they happen. Facebook gives people the power to. Parsons became chairman emeritus of the Partnership for New York City,[19] established by David Rockefeller in 1979,[20] who has known him for many years. The biggest boost came from the film division, which had experienced an enormous success because of the Harry Potter and The Lord of the Rings series. Therefore, be sure to refer to those guidelines when editing your bibliography or works cited list. But, in this case, Parsons sits at the helm of one of the largest media companies in the world, Time Warner. 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. ." 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. Director of Business Operations at ExperienceIT. 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. Peter J. [14], In September 2018, Parsons became the Interim Chairman of the Board for CBS, replacing Les Moonves. window.__mirage2 = {petok:"Olb1PN4AOYQxfgUm1EldB37uVPcj4uBa8eBE3X8k2lQ-86400-0"}; Vol. Parsons was chairman of Citigroup from 2009 until 2012. "Getting your team together is the more important thing." Levin had been in negotiations with Steve Case (1958), AOL's CEO, for several years. 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. 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. "Reeling Like a Bad Movie: AOL Time Warner." On May 16, 2001, Parsons replaced Gerald Levin as CEO of the AOL-Time Warner Corporation. In 2015, Parsons was diagnosed with multiple myeloma, a rare blood cancer. 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. Parsons also worked on the transition team for Michael Bloomberg, who was elected Mayor of New York City in 2001. 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 accepted the presidency for a reported salary of several million dollars a year. After graduation, he attended college at the University of Hawaii, where he excelled both academically and socially; Parsons was a varsity basketball player and the social chairman of his fraternity. The proud parents were by Jenna's side when she married her husband, Henry Hager, in. Never. Parsons served with the Domestic Council until the end of the Ford administration and returned to New York to work for Governor Nelson Rockefeller. For the next six years, he served as the number-two executive Addresses: Office AOL Time Warner, 75 Rockefeller Plaza, New York, NY 10019. council and then as associate director of the domestic council. 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. 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. . In African American Lives. [1] He was previously the interim CEO of the Los Angeles Clippers NBA franchise. 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. 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. laura bush parsonsis ora king salmon safe to eat. 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. Parsons became a partner in just two years at Patterson, Belknap, Webb & Tyler, a move that typically demanded seven years. Isidore, Chris. His journey to future success was given some impetus by his girlfriend at the time, Laura Bush, who became his wife in 1968. The world's most influential media company, however, was struggling. Dawn Bennett-Alexander assisted Parsons from March 1976 until the end of the administration. 38, 39. 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. 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. Parsons is also on the board of the family-created Museum of Modern Art. The two met when Bush was still an aimless youth with no real idea of what he would be doing with his life. "He is a persuader, not a dictator," a former colleague told CNET News.com. In contrast, he embraced the Rockefeller Republicans' philosophy of equipping a group with skills so they can achieve what they need on their own. Fortune (August 8, 2004). Born: March 28, 1946, in Chicago, Illinois., Public Company Color her surprised! (2 minutes) Former President George W. Bush, 74, is the author of "Out of Many, One: Portraits of America's Immigrants" (Crown). In 1977, he returned to New York, and at the request of former U.S. Deputy Attorney General Harold R. Tyler Jr., he joined the law firm of Patterson, Belknap, Webb & Tyler. Parsons began his career working as a lawyer and counsel for former New York governor Nelson Rockefeller. Parsons also served as chairman of the Apollo Theater Foundation, Inc. and sat on the boards of several arts, educational, and commercial organizations, including the Metropolitan Museum of Art, Citigroup, and Este Lauder, Inc. Parsons served as trustee of numerous Rockefeller entities, including one that holds stock in all of the family businesses. [2] On October 21, 2018, he resigned for health reasons from CBS and was replaced by Strauss Zelnick. Beginning his legal career as an aide on New York governor Nelson Rockefellers legal staff, Parsons made a very favorable impression on the governor. Her surprised January 1995, p. 15. Business Week, `` Dick is more... They happen he also earned staff respect at Dime with his fair treatment of.. Proud parents were by Jenna & # x27 ; s side when she married her husband, Henry,. Of Time Warner. September 2018, he resigned for health reasons from CBS and was replaced Strauss. 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