Mogul Dick Parsons Likes Cigars, Believes in Terroir But please donÂt complain to him about your cable service. By Geoffrey Gray
It should be good to be Dick Parsons, king of Time Warner. HeÂs famously easygoing for a corporate potentate, which is evident as he holds court at the members-only Grand Havana Room, on the 39th floor of 666 Fifth Avenue, taking puffs from a plump Cuban and sipping wine from Il Palazzone, the vineyard in Tuscany thatÂs part of his private domain. And yet heÂs not so sure heÂs got it made entirely. ÂYou know, everybody thinks itÂs cool; literally, they say, ÂIt must be cool to be you,  Parsons says, then takes a puff. ÂHello! First, thereÂs the issue thatÂs nagged him as Time WarnerÂs chairman and wonÂt go awayÂthe companyÂs stock priceÂand the current financial landscape isnÂt helping any. ÂThese damn markets, he says. ÂItÂs like swimming in a sewer.Â
ItÂs different for, say, Rupert Murdoch. Even as Parsons is pressured to get rid of the influential, but financially undynamic, Time Inc. magazines, the News Corp. chairman got to pursue his $5 billion personal quest to own The Wall Street Journal. ÂRupert has an advantage in that he has a large, publicly traded company but heÂs in a controlling position, Parsons says. ÂHe can indulge thinking long term. If almost anybody else did it, theyÂd get killed. EverybodyÂd be saying, ÂWhy are you buying a newspaper? WhereÂs the growth? Â
ParsonsÂs contract expires next year. HeÂs only 59. What of reports that heÂs angling to replace Mike Bloomberg as mayor? HeÂs not so interested. ÂTough job, he says, and shakes his head, thinking about taking 4 a.m. calls from Con Ed or Ray Kelly. ÂTough job. There was a movie called Throw Mama Under the Bus? This is called Throw Dick Parsons Under the Bus! Would he be interested in something bigger, as weÂve heard, like running the Treasury or Education Department under the next president? He wonÂt say. But running things is what he does. ÂNobody would admit to being a suit, he says, Âbut thatÂs what I am.Â
Back to the wine. For a long time, he kept quiet about his vineyard. He didnÂt want people to know he was taking the company jet to Tuscany for tastings (he was, but only because CEO insurance usually prevents an exec from flying anything else). Now, Parsons doesnÂt mind talking about his Brunello.ÂItÂs elegant, itÂs got character, itÂs got complexity, and itÂs got terroir. I know some people now say terroir is bullshit, it doesnÂt exist. ThatÂs not true in my judgment. Or his new Super Tuscan. Lorenzo & Isabelle, he calls it, after his parents. ÂThe blend is Cab-Franc, Sangiovese, and a little touch of Petit VerdotÂfor the nose, he says with a sniff.
Parsons likes the vineyard because itÂs the opposite of his day job. ÂWhat I have to wrestle with all the time is digital technology, he says. ÂHow is it changing my world? What does it mean to music? What does it mean to film and television? How is it going to change the advertising paradigm for the magazines? He holds up his glass. ÂYou canÂt digitize this!Â
Presumably Murdoch doesnÂt allow himself such soul-searching. But thatÂs part of ParsonsÂs affable appeal. Still, being a likable titan can be a burden. Parsons wonÂt walk down the street anymore. He canÂt. ÂPeople come up to you just ragging you out, he says. ÂMy cable thing went out, I didnÂt get my magazine, I moved my AOL forwarding thing, whatever they say! And as heÂs saying all this, Alec Baldwin, another member of his stogie club, comes up and gives him a bear hug. ÂYou know how much I love this man? Baldwin says. ÂI love this man so much I wonÂt complain about my AOL account!Â
It should be good to be Dick Parsons, king of Time Warner. Hes famously easygoing for a corporate potentate, which is evident as he holds court at the members-only Grand Havana Room, on the 39th floor of 666 Fifth Avenue, taking puffs from a plump Cuban and sipping wine from Il Palazzone, the vineyard in Tuscany thats part of his private domain. And yet hes not so sure hes got it made entirely. You know, everybody thinks its cool; literally, they say, It must be cool to be you, Parsons says, then takes a puff. Hello! First, theres the issue thats nagged him as Time Warners chairman and wont go awaythe companys stock priceand the current financial landscape isnt helping any. These damn markets, he says. Its like swimming in a sewer.
Its different for, say, Rupert Murdoch. Even as Parsons is pressured to get rid of the influential, but financially undynamic, Time Inc. magazines, the News Corp. chairman got to pursue his $5 billion personal quest to own The Wall Street Journal. Rupert has an advantage in that he has a large, publicly traded company but hes in a controlling position, Parsons says. He can indulge thinking long term. If almost anybody else did it, theyd get killed. Everybodyd be saying, Why are you buying a newspaper? Wheres the growth?
Parsonss contract expires next year. Hes only 59. What of reports that hes angling to replace Mike Bloomberg as mayor? Hes not so interested. Tough job, he says, and shakes his head, thinking about taking 4 a.m. calls from Con Ed or Ray Kelly. Tough job. There was a movie called Throw Mama Under the Bus? This is called Throw Dick Parsons Under the Bus! Would he be interested in something bigger, as weve heard, like running the Treasury or Education Department under the next president? He wont say. But running things is what he does. Nobody would admit to being a suit, he says, but thats what I am.
Back to the wine. For a long time, he kept quiet about his vineyard. He didnt want people to know he was taking the company jet to Tuscany for tastings (he was, but only because CEO insurance usually prevents an exec from flying anything else). Now, Parsons doesnt mind talking about his Brunello.Its elegant, its got character, its got complexity, and its got terroir. I know some people now say terroir is bullshit, it doesnt exist. Thats not true in my judgment. Or his new Super Tuscan. Lorenzo & Isabelle, he calls it, after his parents. The blend is Cab-Franc, Sangiovese, and a little touch of Petit Verdotfor the nose, he says with a sniff.
Parsons likes the vineyard because its the opposite of his day job. What I have to wrestle with all the time is digital technology, he says. How is it changing my world? What does it mean to music? What does it mean to film and television? How is it going to change the advertising paradigm for the magazines? He holds up his glass. You cant digitize this!
Presumably Murdoch doesnt allow himself such soul-searching. But thats part of Parsonss affable appeal. Still, being a likable titan can be a burden. Parsons wont walk down the street anymore. He cant. People come up to you just ragging you out, he says. My cable thing went out, I didnt get my magazine, I moved my AOL forwarding thing, whatever they say! And as hes saying all this, Alec Baldwin, another member of his stogie club, comes up and gives him a bear hug. You know how much I love this man? Baldwin says. I love this man so much I wont complain about my AOL account!