Period:

Second World War (1939-1945)

Rank:

Captain

Unit:

434th Fighter Squadron, 479th Fighter Group, U.S. Army Air Forces

Awarded on:

October 5th, 1944

"For extraordinary achievement and heroism in aerial combat and the destruction of one enemy airplane while serving Pilot of both P-38 twin-engine and P-51 single-engine Fighter Airplanes of the 434 Fighter Squadron, 479th Fighter Group, EIGHTH Air Force, in action over enemy occupied Continental Europe during World War II. The skillful and zealous manner in which Captain Olds has sought out the enemy and destroyed him, his devotion to duty and courage under all conditions serve as an inspiration to his fellow flyers. His actions on all these occasions reflect the highest credit upon himself and the Armed Forces of the United States."

Headquarters, 2d Bombardment Division, General Orders No. 255

Period:

Second World War (1939-1945)

Rank:

Captain

Unit:

434th Fighter Squadron, 479th Fighter Group, U.S. Army Air Forces

Awarded on:

November 26th, 1944

Citation:
"For conspicuous gallantry and intrepidity in action against the enemy while serving Pilot of a P-38 Fighter Airplane of the 434 Fighter Squadron, 479th Fighter Group, Eighth Air Force, in action in the European Theater of Operations, on 25 August 1944. On that date, Captain Olds was leading a flight of P-38 fighters furnishing support for a formation of heavy bombers. Sighting two enemy aircraft crossing well out in front of the bombers, Captain Olds took his flight of four planes forward to investigate. Discovering a group of approximately forty ME-109's, he unhesitatingly made a bold attack, completely ignoring the tremendous odds against him. Observing a fellow pilot being hard-pressed, he started to his assistance when he discovered an ME-109 was on his tail. Performing an exceptionally skillful maneuver, he reversed positions with the enemy and shot him down. Captain Olds' devotion to duty and aggressive combat tactics on this occasion enabled him to destroy three enemy planes and contributed materially to the success of the bombing mission."

Headquarters, 8th Air Force, General Orders No. 526 (November 26, 1944).

Period:

Second World War (1939-1945)

Rank:

Major

Unit:

434th Fighter Squadron, 479th Fighter Group, U.S. Army Air Forces

Awarded on:

1945

Citation:
"For conspicuous gallantry and intrepidity in action against the enemy while serving Pilot of both P-38 twin-engine and P-51 single-engine Fighter Airplanes of the 434 Fighter Squadron, 479th Fighter Group, Eighth Air Force, in action in the European Theater of Operations from 26 May 1944 to 25 April 1945. During this period, Major Olds completed a large number of hazardous missions over continental Europe. Outstanding among these were three escort missions flown on 9 and 14 February and 19 March 1945. During each of these operations, he intercepted vastly superior forces of enemy planes, and with utter disregard for personal danger, thwarted the attacks before the enemy could reach the bomber formation. Six hostile fighters were destroyed by Major Olds while the units under his command shot down nine others. Throughout this entire period, Major Olds consistently displayed courage, tenacity of purpose, and resourcefulness to a degree that proved inspirational to all participating in aerial combat with him."

Second Silver Star received as an Oak Leaf Cluster top be worn on the ribbon of the first Silver Star.

Period:

Vietnam War (1955-1975)

Rank:

Captain

Unit:

8th Tactical Fighter Wing, U.S. Air Force

Awarded on:

June 7th, 1967

"For gallantry in connection with military operations against an opposing armed force while serving as Commanding Officer, 8th Tactical Fighter Wing, Ubon Royal Thai Air Force Base, Thailand, in action in Southeast Asia on 30 March 1967. On that date, Colonel Olds led his three-ship flight on a low level, high speed strike against a major steel mill complex in hostile territory. In the face of marginal weather, the heaviest defenses ever encountered by United Sates Air Forces in Southeast Asia, and with major battle damage inflicted on his aircraft and another within the flight, Colonel Olds exhibited undaunted determination, indomitable courage, and professional skill by pressing the attack and destroying the vital center of the target complex. By his gallantry and devotion to duty, Colonel Olds has reflected great credit upon himself and the United States Air Force."

Headquarters, 7th Air Force, Special Orders G-803

Period:

Vietnam War (1955-1975)

Rank:

Colonel

Unit:

8th Tactical Fighter Wing, U.S. Air Force

"for extraordinary heroism in military operations against an opposing armed force while serving as Strike Mission Commander in the 8th Tactical Fighter Wing, Udorn Royal Thai Air Base, Thailand, against the Paul Doumer Bridge, a major north-south transportation link on Hanoi's Red River in North Vietnam, on 11 August 1967. On that date, Colonel Olds led his strike force of eight F-4C aircraft against a key railroad and highway bridge in North Vietnam. Despite intense, accurately directed fire, multiple surface-to-air missile attacks on his force, and continuous harassment by MiG fighters defending the target, Colonel Olds, with undaunted determination, indomitable courage, and professional skill, led his force through to help destroy this significant bridge. As a result the flow of war materials into this area was appreciably reduced. Through his extraordinary heroism, superb airmanship, and aggressiveness in the face of hostile forces, Colonel Olds reflected the highest credit upon himself and the United States Air Force."

Period:

Vietnam War (1955-1975)

Rank:

Brigadier General

Unit:

U.S. Air Force Academy

"For exceptionally meritorious and distinguished service in a position of great responsibility to the Government of the United States. General Olds distinguished himself as Commandant of Cadets, United States Air Force Academy, from 1 December 1967 to 31 January 1971. In this important and demanding assignment, General Olds displayed exceptional initiative, leadership and executive judgment in directing the military training phase of the United States Air Force Academy mission. General Olds successfully advanced the leadership and military training programs to such a high degree of professionalism as to greatly enhance the prestige of the United States Air Force Academy. His personal efforts in increasing cadet participation and involvement in Academy policy significantly improved the morale of the cadets and gave the Cadet Wing an appreciation of the complexity of the many problems of today and an identity with the solutions. The singularly distinctive accomplishments of General Olds reflect the highest credit upon himself and the United States Air Force."

Rank:

Brigadier General

"For exceptionally meritorious and distinguished service in a position of great responsibility to the Government of the United States. General Olds distinguished himself as Director of Aerospace Safety, Air Force Inspection and Safety Center, from 1 February 1971 to 31 May 1973. In this important assignment, General Olds' exceptional leadership, exemplary foresight, and comprehensive professional knowledge resulted in major contributions toward achieving Air Force Safety objectives, improved safety management, and unprecedented safety records throughout the Air Force. The singularly distinctive accomplishments of General Olds culminate a long and distinguished career in the service of his country and reflect the highest credit upon himself and the United States Air Force."

Bronze Oak Leaf Cluster

Period:

Vietnam War (1955-1975)

Rank:

Colonel

Unit:

8th Tactical Fighter Wing, U.S. Air Force

Period:

Vietnam War (1955-1975)

Rank:

Colonel

Unit:

8th Tactical Fighter Wing, U.S. Air Force

"For exceptionally meritorious conduct in the performance of outstanding services to the Government of the United States as Commander, 8th Tactical Fighter Wing, Thailand, from 1 October 1966 to 23 September 1967. In this important assignment, the leadership, exemplary foresight, and ceaseless efforts consistently demonstrated by Colonel Olds resulted in significant contributions to the combat capabilities of the Wing and the successful accomplishment of its mission. His professional skill, personal courage, flexibility, and devotion to duty allowed him to perform diverse duties in an outstanding manner. The singularly distinctive accomplishments of Colonel Olds reflect great credit upon himself and the United States Air Force."

Period:

Second World War (1939-1945)

Rank:

Captain

Unit:

434th Fighter Squadron, 479th Fighter Group, U.S. Army Air Forces

"for extraordinary achievement and heroism in aerial combat and the destruction of one enemy airplane while serving Pilot of both P-38 twin-engine and P-51 single-engine Fighter Airplanes of the 434 Fighter Squadron, 479th Fighter Group, EIGHTH Air Force, in action over enemy occupied Continental Europe during World War II. The skillful and zealous manner in which Captain Olds has sought out the enemy and destroyed him, his devotion to duty and courage under all conditions serve as an inspiration to his fellow flyers. His actions on all these occasions reflect the highest credit upon himself and the Armed Forces of the United States."

Period:

Vietnam War (1955-1975)

Rank:

Colonel

"For extraordinary achievement while participating in aerial flight as an F-4D Aircraft Commander over unfriendly territory on 5 June 1967. As Flight Lead of Chicago Flight, Colonel Olds made repeated attacks against a superior number of MiG-17's until all ordnance was expended. Colonel Olds then relinquished lead to his wingman and aided him in destroying one hostile aircraft. The professional competence, aerial skill, and devotion to duty displayed by Colonel Olds reflect great credit upon himself and the United States Air Force."

Period:

Vietnam War (1955-1975)

Rank:

Colonel

""For heroism while participating in aerial flight as flight leader of four F-4C's over unfriendly territory on 4 May 1967. On that date, as leader of Flamingo Flight providing MiG CAP protection for the strike force, Colonel Olds engaged and destroyed one of the two MiG-21's that had attempted to attack the F-105's. He successfully evaded flak and SAM's until the strike force was outbound at which time he led his flight to the Hoa Lac Airfield where the flight engaged five MiG-17's until low fuel state forced their departure. The outstanding heroism and selfless devotion to duty displayed by Colonel Olds reflect great credit upon himself and the United States Air Force.

Period:

Vietnam War (1955-1975)

Rank:

Colonel

"For heroism while participating in aerial flight on 20 May 1967. On that date, Colonel Olds while leading a combat air patrol, observed 10 to 15 hostile aircraft attacking the strike force he was assigned to protect. With complete disregard for his own personal safety, Colonel Olds led his flight against the opposing forces and accounted for the destruction of four hostile aircraft. This courageous and aggressive attack against superior odds, disorganized the hostiles, negated their threat and allowed all friendly forces to safely egress hostile airspace. The outstanding heroism and selfless devotion to duty displayed by Colonel Olds reflect great credit upon himself and the United States Air Force."

Period:

Vietnam War (1955-1975)

Rank:

Brigadier General

"For extraordinary achievement while participating in aerial flight as a F-4C Aircraft Commander over North Vietnam on 21 August 1967. On that date, General Olds target was an important railroad yard in the vicinity of Hanoi. Despite severe weather conditions, surface-to-air missiles, and intense hostile automatic weapons fire, General Olds completed the mission in a successful manner. The tenacity of this officer to attain the objective against formidable defenses is in accord with the highest military objectives. The professional competence, aerial skill, and devotion to duty displayed by General Olds reflect great credit upon himself and the United States Air Force."