Lieutenant Colonel (R)
Distinguished Flying Cross
Lieutenant Colonel Wallace is a native of Leachville, Arkansas. In 1970 he graduated Arkansas State University with a B.S. in Physical Education and a ROTC commission as a Second Lieutenant in the United States Army. He then attended Rotary Wing Aviation school at Fort Wolters, TX and Ft. Rucker, AL. In 1972, he transitioned to Cobra attack helicopters, and was an Air Cavalry platoon leader in Vietnam. While stationed in Vietnam, LTC Wallace earned 3 Distinguished Flying Crosses.
LTC Wallace earned his first Flying Cross for the medical evacuation of Brigadier General Tallman and two wounded advisers. He later returned to the area to retrieve the rest of BG Tallman’s staff. LTC Wallace earned his 2nd Flying Cross while protecting a besieged South Vietnamese outpost. The outpost was under attack from all points by a superior enemy force and hit with over 300 rounds of heavy rocket and mortar rounds and on the brunt of a concentrated siege by two enemy regiments. LTC Wallace and three other Aircraft commanders fired their first rockets and immediately came under intense anti-aircraft fire. For more than two hours skillfully reaching their objectives, and destroying one target after another. Faced with an impossible situation, they established themselves as the masters of it, resulting in a staggered beaten enemy in full retreat. LTC Wallace earned his 3rd Flying Cross for heroism while flying a reconnaissance mission in which he turned his helicopter towards enemy gunners on three occasions and destroyed their positions securing the safety of the rest of the aircraft involved in the mission. LTC Wallace encountered heavy fire from intense automatic weapons and large caliber anti-aircraft fire during all three of these missions. LTC Wallace was severely injured during his third mission when ground fire pierced his helicopter wounding him in both legs. Lieutenant Wallace’s gallantry in action was in keeping with the highest traditions of the Military Service and reflects great credit upon himself, his unit, and the United States Army.
Lieutenant Colonel Wallace is also the recipient of one Air Medal for Valor, two Vietnamese Crosses of Gallantry and one Vietnamese Honor Medial for Valor and Purple Heart. He also received a Bronze Star Medal and Legion of Merit for service.
After Military retirement, LTC Wallace served as president/owner of Anytime Labor in Memphis, TN; selling the company to Command Labor in 2006, where he continues to serve as Senior Vice President.