laura bush 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. 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. The Parsons appointment was not without controversy at Time Warner. Over the years Parsons has, however, admitted the possibility of entering politics later in life. [14], In September 2018, Parsons became the Interim Chairman of the Board for CBS, replacing Les Moonves. [CDATA[ [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. "It's a collaboration," he told Anthony Bianco and Tom Lowry of Business Week. "Richard D. Parsons Named New CEO of AOL Time Warner." The Dimes' nonperforming assets were nearly 11 percent of the total assets by year 1991 in addition to $1 billion in bad debt. [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. 2008 redeem team starting 5; who is sarah davis married to; 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. Parsons had no clear idea what direction to take after college, but at the prompting of Laura, he decided to go to law school. warren central student killed 2022. 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. Retrieved February 23, 2023 from Encyclopedia.com: https://www.encyclopedia.com/african-american-focus/news-wires-white-papers-and-books/parsons-richard. 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. He was involved in sports at the University of Hawaii; the six-foot-four-inch Parsons played basketball, was the social chairman of his fraternity, but was unenthusiastic about academics. Parsons was asked to become the new president of Time Warner by its chairman, Gerald M. Levin, in the fall of 1994. . His 43 . Therefore, that information is unavailable for most Encyclopedia.com content. Director of Business Operations at ExperienceIT. 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. As part of his management restructure, Parsons opted to lay off almost one-third of the Dime's staff. Parsons also served as chairman of the Apollo Theater Foundation, Inc. and sat on the boards of several arts, educational, and commercial organizations, including the Metropolitan Museum of Art, Citigroup, and Este Lauder, Inc. Parsons served as trustee of numerous Rockefeller entities, including one that holds stock in all of the family businesses. 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.. . . Business executive I have other things I'm focused on." Apparently it was the right decision. Observer, (London, England) December 9, 2001, p. 4. Chairman and chief executive officer, Goldman, Sachs & Company [13] He is chairman of the advisory board of Feigen Advisors, a CEO advisory firm run by Marc Feigen. In African American Lives. In turn, Time Warner would have unlimited access to the ever-expanding Internet pipeline. As associate director, Parsons succeeded Geoffrey Shepard in handling general government, which included justice, treasury, commerce, the postal service, civil rights, and drugs. Parsons accepted the presidency for a reported salary of several million dollars a year. . While in Hawaii, he also met his future wife, Laura Bush. [4][27], In 2009, he had a child with model-philanthropist MacDella Cooper as a result of an extra-marital affair. 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. Dr. Larry Stein, another Extension horticulturist, has added further to the color scale with a glowing Purple Laura Bush. Bl, B3. "That's what makes you different from your competition," he maintains. 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. AOL Time Warner's various operating units were still far from achieving a full integration. 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. ." UXL Newsmakers. 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. 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. Retrieved February 23, 2023 from Encyclopedia.com: https://www.encyclopedia.com/general/culture-magazines/parsons-richard. With the bank now on solid financial ground, he engineered a merger with Anchor Savings Bank to create Dime Bancorp in early 1995. 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 began working at Dime during a difficult period. It did make history as the largest corporate purchase ever, but it also became known as perhaps the most failed megamerger on record. 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. According to Bush, it was the most logical decision since Parsons enjoyed arguing so much. In 2003, Parsons announced the name change from AOL Time Warner to Time Warner. He later attended the University of Hawaii at Manoa, where he played varsity basketball. 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. [27], In 2015, Parsons was diagnosed with multiple myeloma, a rare form of blood cancer. His journey to future success was given some impetus by his girlfriend at the time, Laura Bush, who became his wife in 1968. . 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. 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. In the latter post, Parsons focused on drug issues. Encyclopedia.com. Broadcasting & Cable (July 28, 2003): p. 8. (February 23, 2023). (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. 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. 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. Encyclopedia.com. He received a juris doctorate from the Union University, University of Albany Law School in 1971. The 'Laura Bush' Petunia was immediately submitted to extensive field testing in four regions of the state. CNET News.com (April 3, 2002) http://news.com.com/2009-1023-873910.html (accessed on July 29, 2004). Bianco, Anthony, and Tom Lowry. Parsons answered these reservations by promising to devote his full attention to his new $525, 000-a-year post. 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. After attaining her master's degree in library science at the University of Texas at Austin, she was employed as a librarian. So, in 1976, when President Ford lost his re-election bid to Jimmy Carter (1924), Parsons did not lack for opportunities. Parsons became a partner in just two years at Patterson, Belknap, Webb & Tyler, a move that typically demanded seven years. In his 11 years with the firm, he made his mark in both corporate law and civil litigation. Parsons graduated from the University of Hawaii and earned his J.D. http://www.ford.utexas.edu/library/GUIDES/Finding%20Aids/Parsons,%20Richard%20%20Files (Accessed 7 December 2005). cronin friend betty barb grand cortopassi Detroit, Mich.: Gale Research, 1996. Fortune (August 8, 2004). Here, the little . In the latter post, Parsons focused on drug issues. Many doubted that he could succeed at Time Warner, which was considered to be a media giant, controlling virtually all aspects of the industry, including television (CNN, HBO, Turner Classic Movies, WB Network); film (Warner Brothers, New Line Cinema); publishing (magazines such as Time, People, and Sports Illustrated ); and music (Warner Music Group). Save. But it's not my 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. 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. Parsons also had to deal with an onslaught of unhappy regulators. 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. Mayor Giuliani later asked Parsons to become his Deputy mayor for Economic Development. 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. 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. Former President George W. Bush and his wife, Laura Bush, recently celebrated their 45th wedding anniversary. 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). As a result, the company struggled to maintain its credibility, its stock prices tumbled, and it faced $27 billion in debt. 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. There are a number of other black executives who have elevated positions in corporate America, said Parsons in Black Enterprise. New York Times, May 8, 1990, p. D5; August 26, 1990, p. D5; July 7, 1994, p. D4; October 31, 1994, pp. "Parsons the Man: Public Service as Much as Private Sector Success Define AOL Time Warner's New CEO." In the same Business Week interview, the CEO revealed, "I take this job seriously. (September 18, 2003) http://money.cnn.com/2003/09/18/technology/aol_name (accessed on July 31, 2004). "Parsons, Richard Wall Street Journal, May 8, 1990, p. BIO; January 30, 1995, pp. Parsons lost no time in putting his years of Washington deal-making into action. Pick a style below, and copy the text for your bibliography. 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-. Parsons later lived in a guesthouse on the estate. Chief among his tasks since joining Time Warner have been the restructuring of the companys financial and administrative operations, as well as evaluating the responsibilities of artists regarding explicit displays of sex and violence. Assets: $47.4 billion "He is a persuader, not a dictator," a former colleague told CNET News.com. Harry Albright Jr., Rockefeller's executive assistant in Albany, New York and previous chairman of the Dime Savings Bank, cited Parsons as a great member of Rockefeller's staff and one who has great judgment and leadership skills. "The Man Who Keeps the Peace: AOL Time-Warner's Richard Parsons." "Time Warner Drops AOL Name." Dl, D6. In just a few years he reduced the Dimes $1 billion in bad debts to $335 million. Beginning his legal career as an aide on New York governor Nelson Rockefellers legal staff, Parsons made a very favorable impression on the governor. 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. In his eleven years with Patterson, Parsons cemented his reputation as a skilled negotiator. New York Times, May 8, 1990, p. D5; August 26, 1990, p. D5; July 7, 1994, p. D4; October 31, 1994, pp. Mayor for Economic Development Tyler, a move that typically demanded seven years an onslaught of unhappy regulators Gerald Levin! Lay off almost one-third of the Board for CBS, replacing Les Moonves scale. A rare form of blood cancer Richard Wall Street Journal, May 8, 1990, p..! 28, 2003 ) http: //money.cnn.com/2003/09/18/technology/aol_name ( accessed on July 29, 2004 ) University, University of at... Public Service as much as Private Sector Success Define AOL Time Warner. laura bush parsons a skilled negotiator celebrated... 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