. 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 . 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. Parsons became a partner in just two years at Patterson, Belknap, Webb & Tyler, a move that typically demanded seven years. In addition, Parsons provided legal counsel to several major U.S. corporations, including the Dimes Savings Bank of New York, the largest savings and loan institution in the state. In his biggest move to trim the $27 billion debt, Parsons sold Warner Music Group in November of 2003 for a reported $2.6 billion. (her sister, Ashley, graduated from Kincaid in 2007). Llewellyn, J. Bruce 1927 [15], In 2007, Parsons became the chairman of the board of directors of the Jazz Foundation of America. CNNMoney.com (December 5, 2001) http://money.cnn.com/2001/12/05/ceos/parsons_profile (accessed on July 29, 2004). He is chairman of the Advisory Board of Feigen Advisors, a CEO advisory firm. 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. 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. Mayor Giuliani later asked Parsons to become his Deputy mayor for Economic Development. However, the date of retrieval is often important. 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. President Ford also used his services, first as a general council and then as associate director of the domestic council. Parsons' responsibilities at Time Warner included corporate finance and legal affairs activities and membership on the board of directors as well as the boards of TriStar Pictures and the Cable Group, American Television, and Communication (now Time Warner Cable). 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. University of Hawaii System.http://www.hawaii.edu/offices/bor/honorary/php?person=RP (Accessed 2 December 2005). 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 the latter post, Parsons focused on drug issues. View the profiles of people named Laura Parsons. 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.". When Parsons was named chief executive officer (CEO) in 2002 and chairman in 2003, he became one of the most powerful executives in the United States, but he also inherited a mountain of problems. With the bank now on solid financial ground, he engineered a merger with Anchor Savings Bank to create Dime Bancorp in early 1995. 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. ." Training And Servicing Center. 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. . 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.. Parsons also remained a committed leader in other areas of public and community service. 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. At Union University of the University of Albany Law School, Parsons helped pay his way through school by working part-time as a janitor and later as an aide in the State Assembly. True, Parsons had proven to be flexible enough to succeed in the banking world, but he had absolutely no background in media and entertainment. 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. Meanwhile, he answered complaints from colleagues at the Dime that he was deserting them. When Robert Pittman stepped down as COO in June of 2002, Parsons quickly reorganized the company's top ranks by promoting some of Time Warner's former division chiefs. Parsons began working at Dime during a difficult period. Parsons refused the position but consented to work as the Economic Development Corporation chairperson. Parsons was asked to become the new president of Time Warner by its chairman, Gerald M. Levin, in the fall of 1994. Retrieved February 23, 2023 from Encyclopedia.com: https://www.encyclopedia.com/education/news-wires-white-papers-and-books/parsons-richard-dean-1948-0. UXL Newsmakers. Retrieved February 23, 2023 from Encyclopedia.com: https://www.encyclopedia.com/education/news-wires-white-papers-and-books/parsons-richard-dean-1948. In addition, thanks to an industry-wide technology slump, AOL, which had promised big revenues, had failed to deliver. He received a juris doctorate from the Union University, University of Albany Law School in 1971. In 2001, President George W. Bush appointed Parsons along with former U.S. senator Daniel Moynihan to a commission to strengthen Social Security Program changes. 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. During that time he also earned the respect of the staff for his fair treatment. 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. "[11] In December 2001, it was announced that Levin would retire and Parsons had been selected as his successor. [24], Parsons was a member of the economic advisory team for President Barack Obama. //]]>. Former President George W. Bush and his wife, Laura Bush, recently celebrated their 45th wedding anniversary. 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. 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. Therefore, be sure to refer to those guidelines when editing your bibliography or works cited list. He graduated at the age of twenty-three, number one of more than 100 students and received the highest score among 3,600 lawyers in 1971 who took the state bar exam. [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. With a calm, cool-headed resolve, he doggedly tackled the problems that lay ahead. He played varsity basketball there, and was also the social chairman of his fraternity. Governor Rockefeller rewarded Parsonss solid performance by keeping him on his staff when he became vice president under President Gerald Ford in 1974. "The Man Behind the Merger." 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. It is like air. [CDATA[ 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. It just isn't for me. . 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. [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. He served as assistant counsel to Governor Rockefeller from 1971 to 1974 and was called to the New York State bar in 1972. ." Parsons, who owns a home on Block Island, is a child psychologist. His journey to future success was given some impetus by his girlfriend at the time, Laura Bush, who became his wife in 1968. AOL Time Warner's various operating units were still far from achieving a full integration. . 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. "Reeling Like a Bad Movie: AOL Time Warner." In May 2014, in the wake of the Donald Sterling racial remarks controversy, Parsons was appointed the interim CEO of the Los Angeles Clippers. Still, when Levin announced, in late 2001, that 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. Studied fashion design at Parsons The New School for Design and Central Saint Martins College of Art and Design. In 1977, Parsons in New York, a partner at the Patterson Belknap Webb & Tyler law firm. 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 1968, Parsons married Laura Ann Bush, a community activist with a doctorate in child psychology, who he met at the University of Hawaii. New York Times, May 8, 1990, p. D5; August 26, 1990, p. D5; July 7, 1994, p. D4; October 31, 1994, pp. The two met when Bush was still an aimless youth with no real idea of what he would be doing with his life. Memberships: Member of presidential Drug Task Force; chairman, Wildcat Service Organization. Broadcasting executive Percy E. Sutton served as Manhattan borough president between 1966 and 1977, Hank Paulson The merger was made official in 2001, when AOL purchased Time Warner for a reported $168 billion. Employees: 14,500 He played varsity basketball there, and was also the social chairman of his fraternity. 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. His maternal grandfather had been head groundskeeper at the John D. Rockefeler estate, Kykuit. Here, the little . Black Enterprise, October 1994, pp. 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. Judge Richard D. Parsons, Counsel and Associate Director for Justice, Civil Rights, Drugs and Consumer Affairs: Files, 197477. (Photo by Shahar Azran/WireImage) Embed. Nationality: American. In 2015, Parsons was diagnosed with multiple myeloma, a rare blood cancer. CNET News.com (April 3, 2002) http://news.com.com/2009-1023-873910.html (accessed on July 29, 2004). His 43 . With the bank on solid ground, Parsons set his sights on a new enterprise. Parsons was a member of the economic advisory team for President Barack Obama in 2008. ." 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." While in Hawaii, he also met his future wife, Laura Bush. BusinessWeek Online (May 19, 2003) http://www.businessweek.com/magazine/content/03_20/b3833001_mz001.htm (accessed on July 29, 2004). But it's not my life. Lauren Bush in New York Bush was signed with Elite Model Management before launching FEED. He also earned staff respect at Dime with his fair treatment of personnel. Detroit, Mich.: Gale Research, 1996. ." She has been featured on the covers of Vogue and Vanity Fair and has frequently modelled for Tommy Hilfiger, as well as for Abercrombie & Fitch and designers Gai Mattiolo and Isaac Mizrahi. Peter J. 11. 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. In a Black Enterprise article, he openly rejected the Democrats' philosophy of taking from one group to give to another. at the company, and as Gerald Levin's right-hand man. Not one. Also fueling his rise were connections he has made with important people over the years. The Dimes' nonperforming assets were nearly 11 percent of the total assets by year 1991 in addition to $1 billion in bad debt. Member of the board of directors of Dime Savings Bank, Federal National Mortgage Association, Philip Morris Companies, Time Warner lnc., New York Zoological Society, and American Television & Communications Inc.; trustee of Rockefeller Brothers Fund, Howard University, and Metropolitan Museum of Art. [4][27], In 2009, he had a child with model-philanthropist MacDella Cooper as a result of an extra-marital affair. 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. He ruminates for some time before addressing the. Henry Louis Gates Jr. New York: Oxford University Press, 2004. "Richard Parsons: Profile." Decker, Ed. Parsons had no clear idea what direction to take after college, but at the prompting of Laura, he decided to go to law school. Richard Dean "Dick" Parsons was born in Brooklyn, New York. In 2003, Parsons made the announcement of the name change from AOL Time Warner to simply Time Warner. 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 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. Business executive Parsons began his career working as a lawyer and counsel for former New York governor Nelson Rockefeller. "Can Dick Parsons Rescue AOL Time Warner?" In 1999, when AOL and Time Warner merged, parsons became the co-chief operating officer, a position shared with Bob Pittman. [3], Parsons was born to an African-American family in Brooklyn, New York City, on April 4, 1948. "I always knew I'd rise to the top; it never occurred to me that I couldn't.". ." 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. Governor Rockefeller rewarded Parsonss solid performance by keeping him on his staff when he became vice president under President Gerald Ford in 1974. Again, the business community was rocked by the news. He was also in charge of the legal department and human resources. DETAILS. Notable Black American Men, Book II. //