As a result of the savings and loan crisis of the mid-1980s, the Dime had lost some $92.3 million; it was also under scrutiny from federal regulators. DI, D6. "Richard Dean Parsons." In his 11 years with the firm, he made his mark in both corporate law and civil litigation. Parsons and his wife Laura own a vineyard in Montalcino, Italy. In 2003, Parsons announced the name change from AOL Time Warner to Time Warner. Parsons is also on the board of the family-created Museum of Modern Art. Former President George W. Bush and Laura Bush's daughter Barbara Bush gave birth to her first baby with husband Craig Coyne on Monday By Mary Park Published on September 29, 2021 11:42 AM While in Hawaii, he also met his future wife, Laura Bush. Laura Bush petunia at President George Bushs Crawford Ranch 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. Decker, Ed. on August 30, 1968. Parsons, 66, has been married for 35 years to his wife Laura, 67. She is also credited with creating a national initiative called "Ready to Read, Ready to Learn", which promotes reading at a young age. He received a B.A. During his 11 years at the firm Parsons took on Happy Rockefeller, the widow of Nelson (who had died in 1979) as a high-profile client. They credit him with keeping employees informed every step of the way, at one point even producing several videos that were distributed to employees. When Albright departed the Dime, Parsons became chairman and CEO. //. After New Mexico Governor Bill Richardson withdrew his name from consideration for the position of Secretary of Commerce in the Obama Administration, Parsons's name was floated as a possible nominee. Kathleen Ryan served as an assistant to Parsons for a few weeks after she joined the Domestic Council in April, 1975. I exist apart from this job.". Within the Cite this article tool, pick a style to see how all available information looks when formatted according to that style. Standing at 6 feet 4 inches, with broad shoulders, he is a physically impressive man who could fill any boardroom. Education: Graduated from University of Hawaii, 1968; Union University, University of Albany Law School, J.D., 1971. 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 merger created the fourth largest thrift institution in the nation and the largest on the East Coast, with assets worth $20 billion. 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 was accepted by Albany Law School of Union University, New York, earning a Juris Doctor in 1971, finishing at the top of his class. He serves on the board of several cultural institutions, including the Museum of Modern Art and Lincoln Center. 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. (February 23, 2023). Then, copy and paste the text into your bibliography or works cited list. "Can Dick Parsons Rescue AOL Time Warner?" 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. Farmington Hills, Mich.: Thomson Gale, 2003. 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 Many, however, questioned the appointment since Parsons had no real experience in the banking industry. He played varsity basketball there, and was also the social chairman of his fraternity. 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. ." Still, when Levin announced, in late 2001, that Addresses: Office AOL Time Warner, 75 Rockefeller Plaza, New York, NY 10019. council and then as associate director of the domestic council. In a Black Enterprise article Parsons stated: "What motivates me is a sense of accountability to people who are important in my life." Dr. Larry Stein, another Extension horticulturist, has added further to the color scale with a glowing Purple Laura Bush. In 1988, he was recruited to serve as a chief operating officer of the Dime Savings Bank of New York. 23 Feb. 2023 . Parsons' grandfather, Judd, was a groundskeeper on Pocantico, part of the Rockefeller estate, long before Parsons became a protg of Nelson Rockefeller. In addition to the MLA, Chicago, and APA styles, your school, university, publication, or institution may have its own requirements for citations. The Economicst (April 19, 2003). Over the years Parsons has, however, admitted the possibility of entering politics later in life. warren central student killed 2022. Colleagues say Parsons management style helped smooth the painful layoffs that he had to make, wrote Fonda Marie Lloyd and Mark Lowery in Black Enterprise. Certain corporations come to bear the impress of a sin, 19082007 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. Parsons also remained a committed leader in other areas of public and community service. ", "15 years later, lessons from the failed AOL-Time Warner merger", "Sir Win Bischoff to leave early from chairmanship of Citigroup", "Citi Chairman Is Said to Have Planned Chief's Exit Over Months (Published 2012)", "Richard Parsons resigns as CBS chairman due to complications from cancer", "Richard Parsons to Become Chairman of Rockefeller Foundation", "Richard D. Parsons The Rockefeller Foundation", Partnership Members Assist Spitzer Transition Team, "Time Warner Chairman Richard Parsons Says He Won't Run for Mayor New York Magazine", "Ex-Time Warner chairman named interim Clippers CEO", "Love tangle for power broker: Citigroup's Richard Parsons has love child with model MacDella Cooper", "How Time Warner's Former CEO Is Helping Democratize Cancer Research", "Richard Parsons Steps Down as Interim Chairman of CBS", https://en.wikipedia.org/w/index.php?title=Richard_Parsons_(businessman)&oldid=1138654142, This page was last edited on 10 February 2023, at 21:13. 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