You Need to Know: Ed Wallace
|photography by Joshua Martin
Founder and owner, Mogul & Mogul Productions, Fort Worth
Details: Mogul & Mogul Productions is the umbrella company for Wallace’s activities on radio (KLIF-AM 570); TV (KDFW Fox 4); newspapers (Fort Worth Star-Telegram); and online (businessweek.com and his own web site, insideautomotive.com).
Why you need to know him: Because this multimedia threat has consistently been among the first to identify and explain important business trends.
Wallace sounded an early warning, for example, about the alarming popularity of subprime mortgages. He was one of the first to explore the role of commodities speculators in skyrocketing oil prices. He sharply criticized corn-derived ethanol as a gasoline substitute. He blew the whistle on the harmful environmental effects of MTBE, a controversial gas additive. And he discovered key flaws in the government database on the Ford/Firestone SUV rollover issue.
A former car salesman, the 55-year-old analyst/broadcaster calls himself a disciple of Peter Drucker, the writer and management consultant. Like Drucker, Wallace has said, he tries to find “the obscure and overlooked story that denotes a permanent change in an economic or business paradigm, and then draw out its impact to a logical conclusion.”
But what of the perception that he’s an “anti-business” muckraker, always focusing on the negative? “I’m totally pro-business,” Wallace says. But a story “is either true or not true. People either have integrity or not. That’s what it boils down to.”