"Honorary Degrees Conferred by the University of Hawaii." Assets: $47.4 billion 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. 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. 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.". Contemporary Black Biography. His journey to future success was given some impetus by his girlfriend at the time, Laura Bush, who became his wife in 1968. Its not a bad time for me to make a move. Rockefellers influence on Parsons remained strong and prompted him to become a Republican whose views were liberal on social issues and conservative on economic ones. View the profiles of people named Laura Parsons. By the mid-1970s Parsons was noted as a rising star among black professionals, and he was profiled in Black Enterprises Under 30 & Moving Up series in 1975. 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 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). [27][28][29] Being of Liberian ethnicity, Cooper founded the MacDella Cooper Foundation in 2004 to help orphans and abandoned children in Liberia following the Second Liberian Civil War. He is a Black business executive and lawyer. [13] He is chairman of the advisory board of Feigen Advisors, a CEO advisory firm run by Marc Feigen. 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. They have three grown children. Zone Development Corporation, which was established to spur the development of business and the growth of job opportunities in Harlem. Smith, Jessie Carney, ed. https://www.encyclopedia.com/general/culture-magazines/parsons-richard, "Parsons, Richard 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." 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. Value is associated with hard work.. It also brought Parsons to the attention of high-ranking people who later sought his services. Among his clients were such high-profile figures as Happy Rockefeller and the cosmetics queen Estee Lauder. Born into a family of humble means in the Bedford-Stuyvesant section of Brooklyn, New York, and raised in Queens, New York, Parsons revealed an inherent intelligence but had few aspirations as a youth. 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. ." Color her surprised! View Laura C Parsons results including current phone number, address, relatives, background check report, and property record with Whitepages. By the mid-2000s, however, analysts reported that Time Warner was on a definite upswing: employee morale was high, investors were newly confident, and the monstrous debt had been significantly slashed. CNET News.com (April 3, 2002) http://news.com.com/2009-1023-873910.html (accessed on July 29, 2004). "It's a collaboration," he told Anthony Bianco and Tom Lowry of Business Week. Certain corporations come to bear the impress of a sin, 19082007 Parsons later became Chairman and CEO and oversaw a merger with Anchor Savings Bank. [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. 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, Hu, Jim. UXL Newsmakers. He also set out to streamline the bank's operations. Over the years Parsons has, however, admitted the possibility of entering politics later in life. 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." I dont do anything differently than I would otherwise because I have that responsibility to my family, he told the New York Times in 1994. He received a B.A. Its a venue to which I could see myself returning at some point in time, he told the New York Times in 1994, referring to public service as the highest calling, large and important work.. 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. 1946 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 . During that time he also earned the respect of the staff for his fair treatment. Colleagues say Parsons management style helped smooth the painful layoffs that he had to make, wrote Fonda Marie Lloyd and Mark Lowery in Black Enterprise. Levin had been in negotiations with Steve Case (1958), AOL's CEO, for several years. But, in this case, Parsons sits at the helm of one of the largest media companies in the world, Time Warner. 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. "That's what makes you different from your competition," he maintains. In his eleven years with Patterson, Parsons cemented his reputation as a skilled negotiator. 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. Not one. Also fueling his rise were connections he has made with important people over the years. In a December 2001 press conference, Levin stunned the industry when he named Parsons as AOL Time Warner's next CEO. Parsons is due to mark his 31st wedding anniversary with his wife, the former Laura Ann Bush, in August. (February 23, 2023). Parsons refused the position but consented to work as the Economic Development Corporation chairperson. "The Man Who Keeps the Peace: AOL Time-Warner's Richard Parsons." ." In 2006, Parsons selected to co-chair the transition team for the incoming Governor of New York, Eliot Spitzer. 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. [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. BusinessWeek Online (May 19, 2003) http://www.businessweek.com/magazine/content/03_20/b3833001_mz001.htm (accessed on July 29, 2004). ." 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. L. Mpho Mabunda and Shirelle Phelps. Training And Servicing Center. She said I needed the change., Parsonss appointment made him the first black to manage a lending company the size of Dime Savings Bank. Hayden, Thomas. During his eleven years with the firm he was successful in both corporate law and civil litigation. Peter J. Contemporary Black Biography. Former President George W. Bush and Laura Bush's daughter Barbara Bush gave birth to her first baby with husband Craig Coyne on Monday By Mary Park Published on September 29, 2021 11:42 AM Detroit, Mich.: Gale Research, 1996. "Parsons Faces Major Test in Unifying AOL Time Warner." Listen to article. 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. As a result, Parsons became known as the consummate gentleman executive. (2 minutes) Former President George W. Bush, 74, is the author of "Out of Many, One: Portraits of America's Immigrants" (Crown). Dawn Bennett-Alexander assisted Parsons from March 1976 until the end of the administration. He was one of five children. Niece of George W. Bush, Laura Bush, Doro Bush, Marvin Bush and Jeb . 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. President Ford also used his services, first as a general. 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. [24], Parsons was a member of the economic advisory team for President Barack Obama. Advertisement. [3], Parsons was born to an African-American family in Brooklyn, New York City, on April 4, 1948. Most online reference entries and articles do not have page numbers. 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. Studied fashion design at Parsons The New School for Design and Central Saint Martins College of Art and Design. Richard Dean "Dick" Parsons was born in Brooklyn, New York. Then, copy and paste the text into your bibliography or works cited list. 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. "Parsons the Man: Public Service as Much as Private Sector Success Define AOL Time Warner's New CEO." Vol. In fact, in 1995 he was key in orchestrating the successful merger between the Dime and Anchor Savings Bank. 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." Born: March 28, 1946, in Chicago, Illinois., Public Company In 1988, he was recruited to serve as a chief operating officer of the Dime Savings Bank of New York. Richard D. Parsons, Counsel and Associate Director for Justice, Civil Rights, Drugs and Consumer Affairs: Files, 197477. 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. The most he did at the time was to learn to . 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. Encyclopedia.com. Encyclopedia.com. Levin, however, felt that Parsons was the right man for the job, and some business insiders were not that surprised. [21], In August 2006, an article in New York Magazine reported that Parsons would likely run for Mayor of New York City in the 2009 New York mayoral election. 11. [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. It is like air. Parsons also had to deal with an onslaught of unhappy regulators. When Rockefeller was appointed Vice President of the United States, in 1974, Parsons followed him to Washington D.C., where he worked directly with President Gerald Ford. While in Hawaii, he also met his future wife, Laura Bush. did desi arnaz jr have a stroke; moose tracks vs cow tracks ice cream Bell, Gregory S., "Richard Dean Parsons." 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 . In addition, Parsons states that his rules for success include believing in yourself, acquiring necessary skills, and outworking the next guy. You cant give something to somebody to have, said Parsons in the same article. In turn, Time Warner would have unlimited access to the ever-expanding Internet pipeline. "Can Dick Parsons Rescue AOL Time Warner?" Fortune (August 8, 2004). It did make history as the largest corporate purchase ever, but it also became known as perhaps the most failed megamerger on record. ." NEW YORK, NY - FEBRUARY 18: Laura Bush Parsons and Richard Parsons attend Apollo Club Harlem at The Apollo Theater on February 18, 2013 in New York City. "I didn't have to think twice about it. Parsons also worked on the transition team for Michael Bloomberg, who was elected Mayor of New York City in 2001. Ed Decker and Christine Miner Minderovic. As he told Cohen, "Ideally, you want to underpromise and overdeliver. [5] 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 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. UXL Newsmakers. Contemporary Black Biography. Black Firsts. Parsons, 66, has been married for 35 years to his wife Laura, 67. Broadcasting & Cable (July 28, 2003): p. 8. Time (December 17, 2001). 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. He frequently downplays race as a factor or handicap in his success. In 1999, when AOL and Time Warner merged, parsons became the co-chief operating officer, a position shared with Bob Pittman. 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. . University of Minnesota - Twin Cities, Minneapolis, Carlson School of Management, +1 more. Financial Times, December 8, 2001, p. 13. 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. 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. Decker, Ed; Minderovic, Christine "Parsons, Richard Dean 1948 Laura Bush petunia at President George Bushs Crawford Ranch 38, 39. Eds. This political stance was consistent with his rejection of the Democrats philosophy. Parsons answered these reservations by promising to devote his full attention to his new $525, 000-a-year post. 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. Stock Index: New York 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. 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