O de wurl aint flat,An de wurl aint roun,Hits one long stripHangin up an downJes Souf an Norf;Jes Norf an Souf. He became such a trusted adviser that in 1974, when Rockefeller headed to Washington to serve 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 contrast, he embraced the Rockefeller Republicans' philosophy of equipping a group with skills so they can achieve what they need on their own. 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. //. In 2001 Parsons was named the successor to AOL Time Warners CEO, Gerald Levin, who was retired in May of 2002. (September 18, 2003) http://money.cnn.com/2003/09/18/technology/aol_name (accessed on July 31, 2004). Parsons was asked to become the new president of Time Warner by its chairman, Gerald M. Levin, in the fall of 1994. Encyclopedia.com. During that time he also earned the respect of the staff for his fair treatment. . New York Times, May 8, 1990, p. D5; August 26, 1990, p. D5; July 7, 1994, p. D4; October 31, 1994, pp. In a Black Enterprise article, Fonda Marie Lloyd and Mark Lowery stated that "colleagues say Parsons' management style helped smooth painful layoffs (two thousand of the four thousand employees) that he had to make." While in Hawaii, he also met his future wife, Laura Bush. 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. BusinessWeek Online (May 19, 2003) http://www.businessweek.com/magazine/content/03_20/b3833001_mz001.htm (accessed on July 29, 2004). 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. After the deal was made, AOL Time Warner's board responsibilities were split directly in half, with one exception: Levin became the sole CEO in charge of operations; Case retained a backseat role as chairman. (February 23, 2023). Judge He stepped down as CEO of Time Warner on December 31, 2007. Then, copy and paste the text into your bibliography or works cited list. [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. Born April 4, 1948, in Brooklyn, NY; son of Lorenzo Locklair and Isabelle Parsons; married Laura Ann Bush, August 30, 1968; children: Gregory, Leslie, Rebecca. On May 16, 2001, Parsons replaced Gerald Levin as CEO of the AOL-Time Warner Corporation. 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." 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). Financial Times, December 8, 2001, p. 13. "Parsons Faces Major Test in Unifying AOL Time Warner." Though he went into remission after Stem-cell therapy, complications in 2018 caused him to step down from his role as Interim Chairman of the Board of CBS. "Can Dick Parsons Rescue AOL Time Warner?" There are a number of other black executives who have elevated positions in corporate America, said Parsons in Black Enterprise. Whether he remains with Time Warner or runs for public office, or goes in a totally different direction, Parsons will continue to be a role model in the African American community. Right after graduating in 1968, Bush wasn't doing anything concrete. https://www.encyclopedia.com/general/culture-magazines/parsons-richard, "Parsons, Richard It also brought Parsons to the attention of high-ranking people who later sought his services. After all, Parsons had sat on the company's board of directors for several years, and had developed close ties with top TW executives. Governor Rockefeller rewarded Parsonss solid performance by keeping him on his staff when he became vice president under President Gerald Ford in 1974. Listen to article. However, the date of retrieval is often important. He received a juris doctorate from the Union University, University of Albany Law School in 1971. They have three grown children: Gregory, Leslie, and Rebecca. Parsons and his wife Laura own a vineyard in Montalcino, Italy. 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. 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. Notable Black American Men, Book II. (February 23, 2023). 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. But in 2008, he was less of a doting husband when he fathered a daughter, Ella . Most online reference entries and articles do not have page numbers. As associate director, Parsons succeeded Geoffrey Shepard in handling general government, which included justice, treasury, commerce, the postal service, civil rights, and drugs. Under his tutelage the bank staged a remarkable comeback, largely through his massive overhauling of the banks management systems and work force. Time (December 17, 2001). Within the Cite this article tool, pick a style to see how all available information looks when formatted according to that style. Eds. Join Facebook to connect with Laura Parsons and others you may know. Then, they dont value it. 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. Henry Louis Gates Jr. New York: Oxford University Press, 2004. Parsons was a bright child with a gift for charming people by telling entertaining stories. CNNMoney.com. ." 68-70, 72, 76, 77; January 1995, p. 15. Business Week, November 14, 1994, pp. Color her surprised! [24], Parsons was a member of the economic advisory team for President Barack Obama. *Richard Parsons was born on this date in 1948. ." In addition to the MLA, Chicago, and APA styles, your school, university, publication, or institution may have its own requirements for citations. Notable Black American Men, Book II. Among his clients were such high-profile figures as Happy Rockefeller and the cosmetics queen EsteeLauder. In a December 2001 press conference, Levin stunned the industry when he named Parsons as AOL Time Warner's next CEO. Therefore, be sure to refer to those guidelines when editing your bibliography or works cited list. President Ford also used his services, first as a general council and then as associate director of the domestic council. The biggest boost came from the film division, which had experienced an enormous success because of the Harry Potter and The Lord of the Rings series. 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. As he told Ebony, I have never missed a single day of work in my life. Retrieved February 23, 2023 from Encyclopedia.com: https://www.encyclopedia.com/african-american-focus/news-wires-white-papers-and-books/parsons-richard. 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. 23 Feb. 2023 . Parsons's critics were not impressed by this middle-of-the-road philosophy, but his supporters pointed out that underlying the nice-guy image was a savvy businessman. "The Man Who Keeps the Peace: AOL Time-Warner's Richard Parsons." In the latter post, Parsons focused on drug issues. Still, when Levin announced, in late 2001, that In mid-2003, he sold off parts of the company that were considered to be noncore assets, including the sports teams, the Atlanta Hawks and Atlanta Thrashers. He is chairman of the Advisory Board of Feigen Advisors, a CEO advisory firm. The Economicst (April 19, 2003). Lauren Bush Lauren was born on June 25, 1984 in Texas, USA. Since the first marketing of Laura Bush, Dr. Parsons has selected and produced a pink version of the original bright violet-pink hue, known as Pink Laura Bush. 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. For the next six years, he served as the number-two executive 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. True, Parsons had proven to be flexible enough to succeed in the banking world, but he had absolutely no background in media and entertainment. His maternal grandfather had been head groundskeeper at the John D. Rockefeller estate, Kykuit. In 2009, he had a child with model-philanthropist MacDella Cooper due to an extra-marital affair. 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. As one AOL shareholder told Business Week, "Dick is the right guy to be running the company right now." . "That's what makes you different from your competition," he maintains. In this case, Parsons was forced to tap into both sides of his personality. (Photo by Shahar Azran/WireImage) Embed. Parsons credits his father with teaching him to concentrate on achievement rather than dwell on race. Parsons, who's been married to psychologist Laura Bush for almost 50 years, acknowledges the pain it caused others and still causes him. 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. 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. Over the years Parsons has, however, admitted the possibility of entering politics later in life. "Richard Parsons: Profile." Farmington Hills, Mich.: Thomson Gale, 2003. Encyclopedia.com. Assets: $47.4 billion In 2003, Parsons announced the name change from AOL Time Warner to Time Warner. [26], In 1968, Parsons married Laura Ann Bush, a community activist with a doctorate in child psychology, who he met at the University of Hawaii. Parsons began working at Dime during a difficult period. 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. New York Times, May 8, 1990, p. D5; August 26, 1990, p. D5; July 7, 1994, p. D4; October 31, 1994, pp. ", Analysts wondered about the future of AOL even as Parsons continued to play peacemaker, overseeing Monday morning meetings with his various managers and promising harmony between teams. In Contemporary Black Biography. Though he went into remission after Stem-cell therapy, complications in 2018 caused him to step down from his role as Interim Chairman of the Board of CBS. "Can Dick Parsons Rescue AOL Time Warner?" George and Laura welcomed their twin daughters, Jenna Bush Hager and Barbara Bush, on November 25, 1981. 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. Contemporary Black Biography. 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. cronin friend betty barb grand cortopassi 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 . 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. Business Week Online.http://www.buisnessweek.com/magazine/content/03_20/b3833001_m2001.htm (Accessed 2 December 2005). Parsons skipped two grades and graduated from high school at the age of sixteen. [4] He was one of five children. 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. L. Mpho Mabunda and Shirelle Phelps. 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. Apparently it was the right decision. Encyclopedia.com. The merger created the fourth largest thrift institution in the nation and the largest on the East Coast, with assets worth $20 billion. 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. 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. He also met a young Rudolph W. Giuliani, with whom he supported in his campaign for New York mayor and heading his transitional council. He stepped down as CEO of Time Warner on December 31, 2007. 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. "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." At the same time people speculated about what role Parsons would play in Time Warner's future. 38, 39. 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.. Washington Post, November 1, 1994, p. D5. Parsons became a partner in just two years at Patterson, Belknap, Webb & Tyler, a move that typically demanded seven years. Parsons worked at various odd jobs, including in a parking garage and gas company to support himself while at the University of Hawaii. He was also in charge of the legal department and human resources. 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.. "Honorary Degrees Conferred by the University of Hawaii." View Laura C Parsons results including current phone number, address, relatives, background check report, and property record with Whitepages. 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. [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 September 2018, Parsons became the Interim Chairman of the Board for CBS replacing Les Moonves. 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. But it was Parsons who oversaw the units that brought in the most revenue, including Warner Brothers, New Line Cinema, and Time Warner Trade Publishing. Former President George W. Bush and his wife, Laura Bush, recently celebrated their 45th wedding anniversary. [2] In October 2018 Parsons stepped down from the position, citing difficulties brought about by his battle with Multiple myeloma. 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. "Time Warner Drops AOL Name." As he later told Black Enterprise, My wife talked me into it. He quickly became a star in the firm and in just two years was named partner. Apparently it was the right decision. He skipped a grade in elementary school and another in high school. Hispanic PRWire (June 11, 2004) http://www.hispanicprwire.com/news_in.php?id=2478&cha=6&PHPSESSID (accessed on July 31, 2004). As he later told Black En terprise, My wife talked me into it. I know the bank is in good hands.. Vol. The drag on the company continued to be AOL, which consistently floundered. Hayden, Thomas. [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. I have other things I'm focused on." He served as assistant counsel to Governor Rockefeller from 1971 to 1974 and was called to the New York State bar in 1972. Kathleen Ryan served as an assistant to Parsons for a few weeks after she joined the Domestic Council in April, 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. 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. (February 23, 2023). As a result, Parsons became known as the consummate gentleman executive. 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. 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. Encyclopedia.com. She said I needed the change., Parsonss appointment made him the first black to manage a lending company the size of Dime Savings Bank. Its not a bad time for me to make a move. Encyclopedia.com. Parsons was left in control of a bank that was apparently dying. Detroit, Mich.: Gale Research, 1996. 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