Phil founded NBE Media LLC (holding company for NoBullEconomics.com) in 2022 and co-founded Restaurant Research LLC. He was formerly FMAC’s SVP and Director of Research where he managed the Research Group’s franchisor relationships, created research processes and policies and designed research products. Prior to FMAC, he served as the head of all restaurant and energy related research for Lehman Brothers’ Franchise Finance Group.

Phil’s background also includes experience in equity research gained as a Vice President-Senior Research Analyst at Cowen & Company. He earned a Bachelors degree in economics from The College of William and Mary and an MBA from New York University where he graduated with honors.

Wally co-founded Restaurant Research and has been involved in analyzing the restaurant industry for more than 20 years. He manages Restaurant Research’s Industry Data Reports product, RR Thermometer Dashboard publication, and client relationships. Wally previously worked as a Senior Research Analyst at FMAC where he focused on the restaurant industry and concept trends. He graduated summa cum laude from the University of Connecticut with a bachelor’s degree in finance.

Matt is a recent graduate of Ohio University where he graduated with honors with a dual major in Finance and Business Analytics. Before joining NBE Media, Matt worked as a financial analyst intern during his last semester at OU at the Fortune 500 company Westlake Chemicals Corp. Matt has his hands full researching story ideas, conducting financial analyses and handling the web, emails and social media.