Hu, Jim. 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. Therefore, be sure to refer to those guidelines when editing your bibliography or works cited list. degree from Union University's Albany Law School in 1971. They have three grown children: Gregory, Leslie, and Rebecca. He quickly became a star in the firm and in just two years was named partner. lauren bush david laura miranda kerr coocoo coconut oil marries models. 23 Feb. 2023 . 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. Assistance League Of Chicagoland West: December 2013 alcw95.blogspot.com. He was born on April 4, 1948, in the Bedford-Stuyvesant section of Brooklyn, New York, and was raised in the New York borough of Queens. "It's a collaboration," he told Anthony Bianco and Tom Lowry of Business Week. Richard D. Parsons, Counsel and Associate Director for Justice, Civil Rights, Drugs and Consumer Affairs: Files, 197477. Decker, Ed "Parsons, Richard Dean 1948 The two met when Bush was still an aimless youth with no real idea of what he would be doing with his life. Lloyd, Fonda Marie, and Mark Lowery. . 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. It was a drastic move, but he also kept communications open with his employees every step of the way. 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. In doing so, he became the first African American to head a lending institution of such proportion. In a December 2001 press conference, Levin stunned the industry when he named Parsons as AOL Time Warner's next CEO. In 2001, United States President George W. Bush selected Parsons to co-chair a commission on Social Security. https://www.encyclopedia.com/education/news-wires-white-papers-and-books/parsons-richard-dean-1948-0, Decker, Ed; Minderovic, Christine "Parsons, Richard Dean 1948 Decker, Ed; Minderovic, Christine "Parsons, Richard Dean 1948 In 2003, Parsons announced the name change from AOL Time Warner to Time Warner. It was either you go for it, or its gone forever, claimed Parsons in Black Enterprise. 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. Although Parsons refused that position, he consented to work as chairman of the citys Economic Development Corporation. Wall Street Journal, May 8, 1990, p. B10; January 30, 1995, pp. 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. New York Times, May 8, 1990, p. D5; August 26, 1990, p. D5; July 7, 1994, p. D4; October 31, 1994, pp. Dl, D6. April 20, 2021, 9:57 AM PDT / Source: TODAY. Admiration for Parsonss skills in the business world resulted in his being courted as a board member for a number of leading companies and institutions, including Time Warner Inc., Philip Morris, Tristar Pictures, Howard University, and the Metropolitan Museum of Art. Parsons became a partner in just two years at Patterson, Belknap, Webb & Tyler, a move that typically demanded seven years. in history from the University of Hawaii in 1968. 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. As he told Ebony, I have never missed a single day of work in my life. He skipped a grade in elementary school and another in high school. Parsons, however, was an extremely bright young man, who went on to graduate from high school when he was just sixteen years old. 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. Parsons later lived in a guesthouse on the estate. 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. 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. 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. Ed Decker and Christine Miner Minderovic. Jet (December 24, 2001): p. 6. 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 and his wife Laura own a vineyard in Montalcino, Italy. 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. . AOL Time Warner's various operating units were still far from achieving a full integration. 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. 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. He was again entering an industry that was new to him, and some doubted his qualifications. Black Enterprise, October 1994, pp. Over the years Parsons has, however, admitted the possibility of entering politics later in life. In Contemporary Black Biography. McClellan, Steve. Governor Rockefeller rewarded Parsonss solid performance by keeping him on his staff when he became vice president under President Gerald Ford in 1974. Dawn Bennett-Alexander assisted Parsons from March 1976 until the end of the administration. Many doubted that he could succeed at Time Warner, which was considered to be a media giant, controlling virtually all aspects of the industry, including television (CNN, HBO, Turner Classic Movies, WB Network); film (Warner Brothers, New Line Cinema); publishing (magazines such as Time, People, and Sports Illustrated ); and music (Warner Music Group). 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. Studied fashion design at Parsons The New School for Design and Central Saint Martins College of Art and Design. Parsons worked at various odd jobs, including in a parking garage and gas company to support himself while at the University of Hawaii. Parsons served with the Domestic Council until the end of the Ford administration and returned to New York to work for Governor Nelson Rockefeller. 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.. As one AOL shareholder told Business Week, "Dick is the right guy to be running the company right now." As part of his management restructure, Parsons opted to lay off almost one-third of the Dime's staff. Judge . https://www.encyclopedia.com/education/news-wires-white-papers-and-books/parsons-richard-dean-1948, Decker, Ed "Parsons, Richard Dean 1948 Smith, Jessie Carney, ed. Parsons, who owns a home on Block Island, is a child psychologist. . 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 2000, Parsons guided the merger of Time Warner with America Online (AOL). Although Parsons refused that position, he consented to work as chairman of the citys Economic Development Corporation. Credit: Shahar Azran / Contributor. 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. 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. President Ford also used his services, first as a general. "Honorary Degrees Conferred by the University of Hawaii." 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. [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. Here, the little . 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. The proud parents were by Jenna's side when she married her husband, Henry Hager, in. Errol Garner and Miles Davis are his favorite musicians. 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. Richard Dean Parsons was born on April 4, 1948, in Brooklyn, 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. 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. ." He has claimed that race was never a defining character in his life. Restrictions: Contact your local office for all commercial or promotional uses. After Giuliani was elected, he named Parsons to be head of his transition council. *Richard Parsons was born on this date in 1948. 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. 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. Parsons remained optimistic, but he proceeded cautiously. 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. In turn, Time Warner would have unlimited access to the ever-expanding Internet pipeline. ." As a result, Parsons became known as the consummate gentleman executive. When Rockefeller was appointed Vice President of the United States in 1974, Parsons followed him to Washington, D.C., where he worked directly with Gerald Ford. She is also credited with creating a national initiative called "Ready to Read, Ready to Learn", which promotes reading at a young age. Parsons, 66, has been married for 35 years to his wife Laura, 67. He ruminates for some time before addressing the. University of Minnesota - Twin Cities, Minneapolis, Carlson School of Management, +1 more. Under his tutelage the bank staged a remarkable comeback, largely through his massive overhauling of the banks management systems and work force. 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. Employees: 14,500 Retrieved February 23, 2023 from Encyclopedia.com: https://www.encyclopedia.com/education/news-wires-white-papers-and-books/parsons-richard-dean-1948-0. Washington Post, November 1, 1994, p. D5; December 6, 2001, p. EO1. "The Man Behind the Merger." He was the first black president and one of the highest-ranking blacks in corporate America. President Ford also used his services, first as a general council and then as associate director of the domestic council. A 2001 merger between Internet icon America Online (AOL) and Time Warner, a leader in the entertainment industry, had proven to be a failed experiment. ." "Richard D. Parsons Named New CEO of AOL Time Warner." Join Facebook to connect with Laura Parsons and others you may know. 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. 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) Parsons, who's been married to psychologist Laura Bush for almost 50 years, acknowledges the pain it caused others and still causes him. Parsons graduated from the University of Hawaii and earned his J.D. Education: Graduated from University of Hawaii, 1968; Union University, University of Albany Law School, J.D., 1971. 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 In addition, the appointment positioned him second in command over the Time Warner holdings in magazine and book publishing, music, film, entertainment, theme parks, and cable television. 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 took the state bar examination in 1971. With the bank now on solid financial ground, he engineered a merger with Anchor Savings Bank to create Dime Bancorp in early 1995. Parsons also remained a committed leader in other areas of public and community service. On October 1, 1995, Parsons was appointed president of Time Warner with a salary of several million dollars per year. Dr. Larry Stein, another Extension horticulturist, has added further to the color scale with a glowing Purple Laura Bush. Notable Black American Men, Book II. . Bl, B3. 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. . "He is a persuader, not a dictator," a former colleague told CNET News.com. Beginning his legal career as an aide on New York governor Nelson Rockefellers legal staff, Parsons made a very favorable impression on the governor. The 'Laura Bush' Petunia was immediately submitted to extensive field testing in four regions of the state. Time (December 17, 2001). From March 1975 to January 1976, Parsons was assisted in his duties by Lyn May, who had worked for Geoffrey Shepard. L. Mpho Mabunda and Shirelle Phelps. The conglomerate was also saddled with significant debt. Former First Lady Laura Bush told TV host Kelly Clarkson that she was "very surprised" to find out her husband, former President George W. Bush, was taking up painting as his . He was one of five children. ." [1] He was previously the interim CEO of the Los Angeles Clippers NBA franchise. Parsons was left in control of a bank that was apparently dying. Parsons was chosen by Mayor Giuliani to head the Transition Council and later in 1993 to be the deputy mayor for economic development. 2019Encyclopedia.com | All rights reserved. By Scott Stump. 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. Staged a remarkable comeback, largely through his massive overhauling of the Domestic council the... New CEO of the citys Economic Development, United States president George Bush. 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