Richard Parsons

11 Stories

No-Show Bankers Show Who's on Top

With bailout funds repaid, Wall Street snubs the president

(Newser) - Obama’s meeting with top bankers yesterday spoke volumes about the new power dynamic between Washington and Wall Street—and not in the White House’s favor. Three top bankers, Lloyd Blankfein, John Mack and Richard Parsons, called in rather than showing their faces. Their excuse was weather that had... More »

Citigroup Chair, Model Have Love Child

Parsons struggled with breaking news to wife of 31 years

(Newser) - The credit crisis isn’t the only problem that's been on Citigroup chairman Richard Parsons’ mind in recent months—there’s also the love child he fathered with a Ralph Lauren model, the New York Daily News reports, and how to tell his wife of 31 years about it. The... More »

Citi CEO Drops by White House, Sparking Chatter

Parsons' meeting ratchets up rumors of bank nationalization

(Newser) - Citigroup’s new chief, Richard Parsons, dropped by the White House last night, Politico reports, visiting Valerie Jarrett, an adviser and longtime confidante to President Obama. “He was here to meet with Valerie—something she often does with business leaders,” explained an official. Still, the visit fueled more... More »

Ex-Time Warner Chief Will Lead Citigroup

Richard Parsons, an Obama adviser, will be chair of ailing bank

(Newser) - Former Time Warner CEO Richard Parsons—an economic adviser on Barack Obama's transition team—will become the new chairman of Citigroup next month. The ailing bank has suffered five straight quarters of losses and received $45 billion in government aid as it struggles to stay afloat amid the credit crisis.... More »

Citi Denies Rumors CEO Is on Chopping Block

Feds have criticized Pandit's strategy; company likely to see $6B quarterly loss

(Newser) - Even as it prepares a fourth-quarter report that’s expected to miss its target by billions, Citigroup says CEO Vikram Pandit’s job is safe, the Wall Street Journal reports. Pandit’s barely had the job a year, but rumors have flown he’d be a casualty of the company’... More »

Sources: Paterson Not So Keen on Caroline

Governor thinks NY needs a more assertive voice in the Senate

(Newser) - David Paterson likes and respects Caroline Kennedy, but the New York governor isn't so sure she's cut out to be Hillary Clinton's replacement. Giving Kennedy 20-1 odds, an anonymous insider tells Fredric U. Dicker of the New York Post that Paterson wants his state to have a louder voice in... More »

NYC Biz Leaders Search for Next Mayor/CEO

Bloomberg's city-as-business style likely hard to replicate

(Newser) - New York Mayor Michael Bloomberg will vacate his office in 18 months, the New York Times reports, and local business honchos are already hunting for a replacement candidate who shares Bloomberg's financial independence and city-as-a-business approach. "What the business community wants is not just a businessman but a Bloomberg-type... More »

AOL Drags Time Warner Income Down 53%

Merger continues to be cautionary tale

(Newser) - Time Warner’s net income tumbled to $1.09 billion this quarter, compared to $2.32 billion a year earlier, thanks to a deeply underperforming AOL division, the Wall Street Journal reports. AOL last year dropped Internet-access fees, and with them 38% of its revenue, to focus on advertising. But... More »

Time Warner Names Bewkes New CEO

President of lagging media giant promoted; Parsons still chairman

(Newser) - Time Warner named Jeff Bewkes its new CEO today, effective Jan. 1, reports the Wall Street Journal. Bewkes, currently the president, will take over from outgoing CEO Richard Parsons, who will remain chairman of the struggling media giant. "We have a lot to do, and I'm intensely focused on... More »

Parsons Set to Leave Time Warner

Media giant denies report; current No. 2 likely successor

(Newser) - Time Warner CEO Richard Parsons is about to announce his departure, sources tell the Times of London, and will hand the reins to current second banana Jeff Bewkes. In his 5-year-plus tenure, Parsons held together the media behemoth after the much-ballyhooed AOL merger went south. Bewkes is expected to shake... More »

TV Moguls Blast Web Rivals

Parsons: 'They are the Custer of the modern world. We are the Sioux Nation.'

(Newser) - A panel of top television executives at a Vegas conference yesterday went on the offensive against their digital rivals, blasting the perception that cell phones, the Web, and other digital formats are killing their business. Quite the contrary, pronounced Time Warner CEO Richard Parsons: "The Googles, they are the... More »

11 Stories