Under his tutelage the bank staged a remarkable comeback, largely through his massive overhauling of the banks management systems and work force. Notable Black American Men, Book II. [1] He was previously the interim CEO of the Los Angeles Clippers NBA franchise. Farmington Hills, Mich.: Thomson Gale, 2003. Stock Index: New York 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.. 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. Parsons answered these reservations by promising to devote his full attention to his new $525,000-a-year post. To this union three children were born (Gregory, Leslie, and Rebecca). 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 . Levin, however, felt that Parsons was the right man for the job, and some business insiders were not that surprised. He became such a trusted adviser that in 1974, when Rockefeller headed to Washington to serve Parsons served with the Domestic Council until the end of the Ford administration and returned to New York to work for Governor Nelson Rockefeller. Washington Post, November 1, 1994, p. D5; December 6, 2001, p. EO1. Parsons is due to mark his 31st wedding anniversary with his wife, the former Laura Ann Bush, in August. His journey to future success was given some impetus by his girlfriend at the time, Laura Bush, who became his wife in 1968. Career: Served as assistant counsel to Governor Nelson Rockefeller, Albany, NY, 1971-74; 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, 1975-77; Patterson, Belknap, Webb & Tyler (law firm), New York, NY, attorney, 1977-88, became partner, 1979; Dime Savings Bank of New York (became Dime Bancorp, 1995), chief operating officer, 1988-90, chairman and chief executive officer, 1990-95; named head of mayor-elect transition council, 1993; served as chairman of New York Citys Economic Development Corporation; Time Warner Inc., president, 1995-99; AOL Time Warner, co-chief operating officer, 1999-2002, AOL Time Warner, CEO, 2002-. Whether I was an African-American, an Arab-American, a Jewish-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.. 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. The most he did at the time was to learn to . The conglomerate was also saddled with significant debt. Parsons is also on the board of the family-created Museum of Modern Art. Among his clients were such high-profile figures as Happy Rockefeller and the cosmetics queen EsteeLauder. lauren bush david laura miranda kerr coocoo coconut oil marries models. Encyclopedia.com. Parsons worked at various odd jobs, including in a parking garage and gas company to support himself while at the University of Hawaii. Landler, Mark "Watch Your Back, Mr. Parsons" Business Week (14 November 1994): 38-39. Peter J. 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. Within the Cite this article tool, pick a style to see how all available information looks when formatted according to that style. 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). 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. "That's what makes you different from your competition," he maintains. 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. Its not a bad time for me to make a move. In his 11 years with the firm, he made his mark in both corporate law and civil litigation. Financial Times, December 8, 2001, p. 13. The drag on the company continued to be AOL, which consistently floundered. Decker, Ed; Minderovic, Christine "Parsons, Richard Dean 1948 They credit him with keeping employees informed every step of the way, producing videos for employee distribution. After attaining her master's degree in library science at the University of Texas at Austin, she was employed as a librarian. As a result, Parsons became known as the consummate gentleman executive. The Dimes' nonperforming assets were nearly 11 percent of the total assets by year 1991 in addition to $1 billion in bad debt. 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 April 1976 when Kathleen Ryan left the Domestic Council, responsibility for consumer affairs was given to Parsons' office. Over the years Parsons has, however, admitted the possibility of entering politics later in life. "And he would do it in a way that everyone would feel good about the outcome." In September 2018, Parsons became the Interim Chairman of the Board for CBS replacing Les Moonves. Parsons accepted the presidency for a reported salary of several million dollars a year. "It's a collaboration," he told Anthony Bianco and Tom Lowry of Business Week. As counsel to the Domestic Council, he worked closely with the Counsel to the President in providing legal guidance in the formulation of domestic policy. For the next six years, he served as the number-two executive He stepped down as CEO of Time Warner on December 31, 2007. In 2000, Parsons guided the merger of Time Warner with America Online (AOL). As a result of his involvement with Time Warner, he developed close ties with Robert W. Morgado, the chairman of the Warner Music Group, and Michael J. Fuchs, chairman of HBO.In the fall of 1994, Parsons was requested by Gerald M. Levin to become the president of Time Warner. [2] In October 2018 Parsons stepped down from the position, citing difficulties brought about by his battle with Multiple myeloma. Parsons remained optimistic, but he proceeded cautiously. Vol. Parsons also inherited a number of problems when he assumed his new post in January of 1995. "The Man Behind the Merger." I know the bank is in good hands.. Because each style has its own formatting nuances that evolve over time and not all information is available for every reference entry or article, Encyclopedia.com cannot guarantee each citation it generates. http://www.ford.utexas.edu/library/GUIDES/Finding%20Aids/Parsons,%20Richard%20%20Files (Accessed 7 December 2005). Black Enterprise, 25 (October 1994): 69-76. "He is a persuader, not a dictator," a former colleague told CNET News.com. Mehta, Stephanie. For example, during his Washington years, the social-minded Parsons was chairman of the Wildcat Service Corporation, an organization that provides job training for people who have difficulty finding work because of past criminal records, addictions, or poverty. "Parsons, Richard Although Parsons refused that position, he consented to work as chairman of the citys Economic Development Corporation. 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. There are a number of other black executives who have elevated positions in corporate America, said Parsons in Black Enterprise. 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. [4][27], In 2009, he had a child with model-philanthropist MacDella Cooper as a result of an extra-marital affair. Parsons joined the Domestic Council staff in March 1975, serving both as legal council and as an associate director. [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. In addition, any time that trouble reared its head over regulatory issues in Washington, Parsons came to the rescue by turning to one of his many political contacts. BusinessWeek Online (May 19, 2003) http://www.businessweek.com/magazine/content/03_20/b3833001_mz001.htm (accessed on July 29, 2004). Newsweek (January 24, 2000): p. 36. 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. Three years later, in 1991, on the recommendation of Nelson's brother Laurance Rockefeller to the then CEO Steve Ross, Parsons was invited to join Time Warner's board; he subsequently became president of the company in 1995, recruited by chief executive Gerald Levin. DI, D6. President Ford also used his services, first as a general. The 'Laura Bush' Petunia was immediately submitted to extensive field testing in four regions of the state. After Giuliani was elected, he named Parsons to be head of his transition council. [4] He was one of five children. "Richard Dean Parsons." 38, 39. 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. 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. An article in Business Week Online stated that after accepting the Time Warner presidency, "Parsons gradually made himself indispensable to Time Warner by taking on tough assignments that the increasingly insular Levin could not do himself." 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. //