He was one of five children. Named president of Dime Savings Bank of New York in 1988 even though he had had no previous experience in the banking industry, he masterminded a turnaround at the bank in just a few years. 2019Encyclopedia.com | All rights reserved. X. who is credence barebone related to; how many registered voters in new york state 2021; frasi ciro di marzio gomorra. Listen to article. //]]>. Left to my own devices, I dont feel any compulsion to strive, he told the New York Times in 1990. "That's what makes you different from your competition," he maintains. It also brought Parsons to the attention of high-ranking people who later sought his services. ." Newsweek (January 24, 2000): p. 36. 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. Newzjunky - JCC Releases President's And Dean's Lists For Fall 2013 m.facebook.com. UXL Newsmakers. "Can a Nice Guy Run This Thing?" as vice president, Parsons was invited along. Its not a bad time for me to make a move. 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. Broadcasting executive Percy E. Sutton served as Manhattan borough president between 1966 and 1977, Hank Paulson . The two met when Bush was still an aimless youth with no real idea of what he would be doing with his life. 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. Member of the board of directors of Dime Savings Bank, Federal National Mortgage Association, Philip Morris Companies, Time Warner Inc., New York Zoological Society, and American Television & Communications Inc.; trustee of Rockefeller Brothers Fund, Howard University, and Metropolitan Museum of Art. Lauren Bush in New York Bush was signed with Elite Model Management before launching FEED. Greater Minneapolis-St. Paul Area. 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. Llewellyn, J. Bruce 1927 It was either you go for it, or its gone forever, claimed Parsons in Black Enterprise. 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. 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 1968, Parsons married Laura Ann Bush, a community activist with a doctorate in child psychology, who he met at the University of Hawaii. They credit him with keeping employees informed every step of the way, producing videos for employee distribution. He also set out to streamline the bank's operations. After attaining her master's degree in library science at the University of Texas at Austin, she was employed as a librarian. He skipped a grade in elementary school and another in high school. He paid his law school expenses by working as a part time janitor and later as an aide in the New York State Assembly. Parsons worked at various odd jobs, including in a parking garage and gas company to support himself while at the University of Hawaii. 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. This degree is awarded by the Board of Regents to individuals distinguished by their national or international reputation or accomplishments in scholarship, public service, profession, industry, or other areas. Chairman and chief executive officer, Goldman, Sachs & Company 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. For a brief time he worked for Nelson Rockefeller at the family office, "Room 5600", at Rockefeller Center.[8]. L. Mpho Mabunda and Shirelle Phelps. Then, copy and paste the text into your bibliography or works cited list. In the latter post, Parsons focused on drug issues. Parsons was urged by Harry Albright Jr. to become the chief operating officer of the Dime Savings Bank in 1988 with a salary of $525,000 annually. [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. 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. 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. Richard Dean "Dick" Parsons was born in Brooklyn, New York. Los Angeles Times, January 13, 2001, p. C1; December 6, 2001, p. C1. Parsons also inherited a number of problems when he assumed his new post in January of 1995. [1] He was previously the interim CEO of the Los Angeles Clippers NBA franchise. So, in 1976, when President Ford lost his re-election bid to Jimmy Carter (1924), Parsons did not lack for opportunities. 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. Right after graduating in 1968, Bush wasn't doing anything concrete. 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. 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. 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. Hayden, Thomas. 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. As one AOL shareholder told Business Week, "Dick is the right guy to be running the company right now." 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. 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. In fact, in 1995 he was key in orchestrating the successful merger between the Dime and Anchor Savings Bank. In a Black Enterprise article Parsons stated: "What motivates me is a sense of accountability to people who are important in my life." Therefore, that information is unavailable for most Encyclopedia.com content. . 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. The announcement surprised many media watchers who expected chief operating officer Robert Pittman to take the helm. He was raised in the rough neighborhood of Jamaica, New York, a city in Queens County. "Getting your team together is the more important thing." April 20, 2021, 9:57 AM PDT / Source: TODAY. He played varsity basketball there, and was also the social chairman of his fraternity. Graduated from Princeton University in 2006 . Atlanta Journal-Constitution, January 22, 2002, C3. Parsons lost no time in putting his years of Washington deal-making into action. In his spare time he enjoys shooting pool and listening to music. https://www.encyclopedia.com/education/news-wires-white-papers-and-books/parsons-richard-dean-1948-0, Decker, Ed; Minderovic, Christine "Parsons, Richard Dean 1948 CNNMoney.com (December 5, 2001) http://money.cnn.com/2001/12/05/ceos/parsons_profile (accessed on July 29, 2004). 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. . In 2003, Parsons announced the name change from AOL Time Warner to Time Warner. Born: March 28, 1946, in Chicago, Illinois., Public Company [2] In October 2018 Parsons stepped down from the position, citing difficulties brought about by his battle with Multiple myeloma. Parsons, however, was an extremely bright young man, who went on to graduate from high school when he was just sixteen years old. 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. Meanwhile, he answered complaints from colleagues at the Dime that he was deserting them. Kathleen Ryan served as an assistant to Parsons for a few weeks after she joined the Domestic Council in April, 1975. 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. "Parsons, Richard (February 23, 2023). In 2001, George W. Bush selected Parsons to co-chair a commission on Social Security. He became such a trusted adviser that in 1974, when Rockefeller headed to Washington to serve Decker, Ed; Minderovic, Christine "Parsons, Richard Dean 1948 View the profiles of people named Laura Parsons. 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. It's like height. "America Online is an important part of our company and we expect it to continue to make major contributions to our success in the future. Addresses: Office AOL Time Warner, 75 Rockefeller Plaza, New York, NY 10019. council and then as associate director of the domestic council. Business executive . In 1977, Parsons in New York, a partner at the Patterson Belknap Webb & Tyler law firm. He met with the then President-elect on Friday, November 7, 2008, along with many other economic experts, to discuss measures to solve the current economic crisis. Parsons skipped two grades and graduated from high school at the age of sixteen. Retrieved February 23, 2023 from Encyclopedia.com: https://www.encyclopedia.com/education/news-wires-white-papers-and-books/parsons-richard-dean-1948-0. newzjunky louise bartholomew nicole edward. Parsons met Laura, a. Memberships: Member of presidential Drug Task Force; chairman, Wildcat Service Organization. After his announcement as interim Clippers CEO in L.A. last week, the millionaire businessman reportedly flew back to the East Coast to be by her side as she underwent a medical procedure on Tuesday. Encyclopedia.com. . He also met a young Rudolph W. Giuliani, with whom he supported in his campaign for New York mayor and heading his transitional council. 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. laura bush parsonsis ora king salmon safe to eat. Employees: 14,500 [1] He was previously the interim CEO of the Los Angeles Clippers NBA franchise. Notable Black American Men, Book II. 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. "Richard Parsons: Profile." 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. . 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. Encyclopedia.com gives you the ability to cite reference entries and articles according to common styles from the Modern Language Association (MLA), The Chicago Manual of Style, and the American Psychological Association (APA). 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. Contemporary Black Biography. . Pick a style below, and copy the text for your bibliography. In 2009, he had a child with model-philanthropist MacDella Cooper due to an extra-marital affair. Parsons was left in control of a bank that was apparently dying. (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. 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 1968, Parsons married Laura Ann Bush, a community activist with a doctorate in child psychology, who he met at the University of Hawaii. He is a Black business executive and lawyer. Although Richard Dean Parsons regularly makes Fortune magazine's annual list of the most powerful people in business, and he is considered to be one of the most respected African American executives in the country, he came from an average working-class background. "Parsons, Richard 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. In 1994, Gerald Levin (1939), chairman of Time Warner (TW), openly recruited Parsons to take over as president of the company. By Scott Stump. Standing at 6 feet 4 inches, with broad shoulders, he is a physically impressive man who could fill any boardroom. In May 2014, in the wake of the Donald Sterling racial remarks controversy, Parsons was appointed the interim CEO of the Los Angeles Clippers. 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. 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. 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. As he later told Black En terprise, My wife talked me into it. He stepped down as CEO of Time Warner on December 31, 2007. 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. 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) 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. 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. Parsons accepted the presidency for a reported salary of several million dollars a year. 23 Feb. 2023
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