CEO Threatens Layoffs if President Obama is Re-Elected

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David Siegel, founder and CEO of Westgate Resorts, sent an email to his employees warning them of layoffs if President Barack Obama is re-elected this upcoming November.

Siegel sent the email to over 6,000 employees, he wrote, “The economy doesn’t currently pose a threat to your job. What does threaten your job however, is another 4 years of the same presidential administration.”

The billionaire, who says he is responsible for the election of President Bush is standing by the email, saying he's not a bully.

Rumors circulated that the letter was fake but various news outlets confirmed with Siegel that it was real; although parts of the email are copied from a chain-letter that has frequented email circulations for many years.

The anonymous employee who leaked Siegal's email talked with Roland Martin this morning on the Tom Joyner Morning Show.

She explained to Martin, how when she first read the email she was shocked over what she was reading but fellow employees told her Siegal did this during the last election. Saying, "my jaw dropped…I'm looking around to see everyone else's reaction and everyone's just continuing with their everyday life and then I'm like does nobody see a problem with this," when she was told he's "just calling bluff."

Concerned over the legality of the email, the woman who wants anonymity over fear of losing her job decided to release the email because she took the email personal, she said, "at the end of the day the email was out of line."

The woman also pointed out that she has worked for Westgate for seven months and this was the second political email she has received.

Since releasing the email, the employee has not received any repercussions over the leaking. She currently works full-time at Westgate, has a part-time job, and is raising two children.

Despite the need for her job, she felt it was necessary for her to speak out, she explained thinking about remaining anonymous but she exclaimed, "Other people need to know what's going on."

Read the full email below.

————————————-

To All My Valued Employees,

As most of you know our company, Westgate Resorts, has continued to succeed in spite of a very dismal economy. There is no question that the economy has changed for the worse and we have not seen any improvement over the past four years. In spite of all of the challenges we have faced, the good news is this: The economy doesn't currently pose a threat to your job. What does threaten your job however, is another 4 years of the same Presidential administration. Of course, as your employer, I can't tell you whom to vote for, and I certainly wouldn't interfere with your right to vote for whomever you choose. In fact, I encourage you to vote for whomever you think will serve your interests the best.

However, let me share a few facts that might help you decide what is in your best interest.The current administration and members of the press have perpetuated an environment that casts employers against employees. They want you to believe that we live in a class system where the rich get richer, the poor get poorer. They label us the "1%" and imply that we are somehow immune to the challenges that face our country. This could not be further from the truth. Sure, you may have heard about the big home that I'm building. I'm sure many people think that I live a privileged life. However, what you don't see or hear is the true story behind any success that I have achieved.

I started this company over 42 years ago. At that time, I lived in a very modest home. I converted my garage into an office so I could put forth 100% effort into building a company, which by the way, would eventually employ you. We didn't eat in fancy restaurants or take expensive vacations because every dollar I made went back into this company. I drove an old used car, and often times, I stayed home on weekends, while my friends went out drinking and partying. In fact, I was married to my business — hard work, discipline, and sacrifice. Meanwhile, many of my friends got regular jobs. They worked 40 hours a week and made a nice income, and they spent every dime they earned. They drove flashy cars and lived in expensive homes and wore fancy designer clothes. My friends refinanced their mortgages and lived a life of luxury. I, however, did not. I put my time, my money, and my life into this business —with a vision that eventually, some day, I too, will be able to afford to buy whatever I wanted. Even to this day, every dime I earn goes back into this company. Over the past four years I have had to stop building my dream house, cut back on all of my expenses, and take my kids out of private schools simply to keep this company strong and to keep you employed.

Just think about this – most of you arrive at work in the morning and leave that afternoon and the rest of your time is yours to do as you please. But not me- there is no "off" button for me. When you leave the office, you are done and you have a weekend all to yourself. I unfortunately do not have that freedom. I eat, live, and breathe this company every minute of the day, every day of the week. There is no rest. There is no weekend. There is no happy hour. I know many of you work hard and do a great job, but I'm the one who has to sign every check, pay every expense, and make sure that this company continues to succeed. Unfortunately, what most people see is the nice house and the lavish lifestyle. What the press certainly does not want you to see, is the true story of the hard work and sacrifices I've made.

Now, the economy is falling apart and people like me who made all the right decisions and invested in themselves are being forced to bail out all the people who didn't. The people that overspent their paychecks suddenly feel entitled to the same luxuries that I earned and sacrificed 42 years of my life for. Yes, business ownership has its benefits, but the price I've paid is steep and not without wounds. Unfortunately, the costs of running a business have gotten out of control, and let me tell you why: We are being taxed to death and the government thinks we don't pay enough. We pay state taxes, federal taxes, property taxes, sales and use taxes, payroll taxes, workers compensation taxes and unemployment taxes. I even have to hire an entire department to manage all these taxes. The question I have is this: Who is really stimulating the economy? Is it the Government that wants to take money from those who have earned it and give it to those who have not, or is it people like me who built a company out of his garage and directly employs over 7000 people and hosts over 3 million people per year with a great vacation?

Obviously, our present government believes that taking my money is the right economic stimulus for this country. The fact is, if I deducted 50% of your paycheck you'd quit and you wouldn't work here. I mean, why should you? Who wants to get rewarded only 50% of their hard work? Well, that's what happens to me. Here is what most people don't understand and the press and our Government has chosen to ignore – to stimulate the economy you need to stimulate what runs the economy. Instead of raising my taxes and depositing that money into the Washington black-hole, let me spend it on growing the company, hire more employees, and generate substantial economic growth. My employees will enjoy the wealth of that tax cut in the form of promotions and better salaries. But that is not what our current Government wants you to believe. They want you to believe that it somehow makes sense to take more from those who create wealth and give it to those who do not, and somehow our economy will improve. They don't want you to know that the "1%", as they like to label us, pay more than 31% of all the taxes in this country. Thomas Jefferson, the author of our great Constitution, once said, "democracy" will cease to exist when you take away from those who are willing to work and give to those who would not."

Business is at the heart of America and always has been. To restart it, you must stimulate business, not kill it. However, the power brokers in Washington believe redistributing wealth is the essential driver of the American economic engine. Nothing could be further from the truth and this is the type of change they want. So where am I going with all this? It's quite simple. If any new taxes are levied on me, or my company, as our current President plans, I will have no choice but to reduce the size of this company. Rather than grow this company I will be forced to cut back. This means fewer jobs, less benefits and certainly less opportunity for everyone.

So, when you make your decision to vote, ask yourself, which candidate understands the economics of business ownership and who doesn't? Whose policies will endanger your job? Answer those questions and you should know who might be the one capable of protecting and saving your job. While the media wants to tell you to believe the "1 percenters" are bad, I'm telling you they are not. They create most of the jobs. If you lose your job, it won't be at the hands of the "1%"; it will be at the hands of a political hurricane that swept through this country.

You see, I can no longer support a system that penalizes the productive and gives to the unproductive. My motivation to work and to provide jobs will be destroyed, and with it, so will your opportunities. If that happens, you can find me in the Caribbean sitting on the beach, under a palm tree, retired, and with no employees to worry about.

 

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36 thoughts on “CEO Threatens Layoffs if President Obama is Re-Elected

  1. This man was honest, imagine all the others that will not hire a black man, or give him a fair evaluation, because they are angry about a black man elected as President, how many black men have been fired how many black men have be abused by authorities just because of the election of Obama,

  2. He presents a strong argument. And if it was an honorable candidate with a solid plan opposing this current adminstration, this would be something to seriously consider. But since Mitt Romney is shady, weasley, and lies incessantly, Re-elect President Obama.

    Also, no matter how they try to frame it, the country’s economy is not only the only thing at stake in this current election. Protections, rights, freedoms, international relations, and our food and water supplies are at risk. Romney’s not the man for any of these. Again, re-elect President Obama.

    Mitt Romney is clearly no diplomat. We don’t want another war. Re-elect President Obama.

    Mr. Siegel, I’m sorry, but you must either endure another four years, or make personal hard choices.

    Obama, four more years!

  3. This is the worst bull s… I have ever heard. “Don’t vote for Obama because he will eliminate my Bush tax cut which would reduce my 5mil paycheck to 4.7mil. I need that extra .3mil to add another bathroom to my 26-bathroom, 30-bedroom mansion. If I don’t get my way I will cut off my nose to spite my face. “I will close the business that I have been married to and love and enjoyed a very lavish life-style even in this poor economy, and I will go and sit on the beach, under a palm tree”. Is he for real?
    First of all this man built this company with the help of his workers, he got rich and they got a paycheck and the more people make a payheck the more they will spend it, maybe at the resort, so he could make more money to offset that extra tax. 2nd I’m sure there are investors and board members and even heirs to the throne who would not just let this company go. 3rd how utterly selfish can one person be, this man have made his bil and would rather fire people before he would contribute a little more to help this country get back on it’s feet. I guess he does not appreacite his employees or what this country have done for him, after all he did say he would “retire to the Caribbean with no employees to worry about”. 4th if his party offered something in the best interest of the employees they would vote for his party, but he is asking the employees to vote against their best interest and in the interest of David Siegel. 5th he take pride in helping get Bush elected?, he must know that the Bush admin is exactly what we are trying to recover from now. 6th does he think being a bully is the way to go? That’s as bad as trying to surpress the vote.
    Last but not least I threaten him, if Romey win I will not take my annual one week getaway at a resort, because I will probable lose my government job. I have a child with a pre-condition illness, when the affordable care act is repealed what should I do when I can no longer afford my health insurance. My quality of life will lessen just so he can keep that extra 3% tax that he say would devastate him. Please give me a break!

  4. Don’t forget, the first 250K of income is exempt from the 3% increase. So the expiration of the Bush tax cuts only applies to monies earned in excess of $250K! For example, if $300K is earned, only $50K is subject to the 3% increase. That’s $1500. And to put it into further perspective, it’s money that isn’t used. This money just sits in portfolios collecting more interest. The notion that the money is used for hiring is just absurd.

    How do I know this? My income is above $250K and I own a financial services company that sees the income and spending habits of individuals that have the level of income.

    NEXT!

  5. Republicans argue that letting the high-end tax cuts expire will hit small businesses and impede hiring. That is nonsense, and based on an overly broad definition of “small business,” which counts any taxpayer who reports business income as a business owner, including lawyers and accountants working in partnerships, corporate executives who sit on other firms’ boards and shareholders in “S-corporations,” business organizations that can employ thousands of workers. Using a more reasonable definition of small business — for instance, having income and deductions of less than $10 million — a recent Treasury analysis found that only 2.5 percent of small-business owners would face higher taxes from the expiration of the Bush tax cuts. Of those who would be affected, most are unlikely to reduce hiring or investment because of ample deductions for business expenses.

    As for job creation, it’s not coming from the people with money. Over 90% of the assets owned by millionaires are held in a combination of low-risk investments (bonds and cash), the stock market, real estate, and personal business accounts . Angel investing (capital provided by affluent individuals for business start-ups) accounted for less than 1% of the investable assets of high net worth individuals in North America in 2011. The Mendelsohn Affluent Survey agreed that the very rich spend less than two percent of their money on new business startups.

  6. You are very wrong. Probably around 25% of his employees make over $100k per year. I know that is not rich but I can tell you from experience that in his company, hard work pays, and pays well!! This is even without a 4 year degree. I am a black man and it is so funny to read these post!! The blind leading the blind. This is exactly why majority of us don’t get ahead.

  7. You do not know what you are talking about. Stop always trying to play the race card. If you knew the man, you could appreciate what he has done for Central Florida. I am a real black man who works for Westgate Resorts and he has given me and my family an opportunity of a good life when the incumbent President and his policies killed my thriving businesses when he did not go after the banks as he should have for creating the financial turmoil, but in turn passed laws that forced private companies and individuals under a national system of unfair regulations when it was the big banks who caused all of the madness that is has ruined our country. They got a slap on the wrist while I had to shut down a national franchise and a very profitable real estate company. Thanks for nothing Mr. President!!! God Bless David Siegel!!!

  8. You have to be able to see past your own nose. If you are a business owner you should be smart enough to know this economy on a global level is at the end of its roads, the bankers know this hence the unwillingness to make loans. (Normalcy Bias) — Will be the cause of our worst nightmares coming true Riots in the streets. If you don’t know what Normalcy Bias means look it up.

  9. He`s a billionaire, he could care less, he`s a mirrior image of Mitt, people get layed off all the time. Romney made the same threat to planned parenthood, when he gets elected they will be out of work.

  10. This is baloney! Do not fall for it Westgate employees. Call his bluff. You WILL live to regret it if you vote against President Obama. David Siegel is threatening you if you do not vote for him. Can you say class action lawsuit?

  11. Let the idiot say what he wants to say. They can vote for whomever they want. They don’t have to tell him. HOW WOULD HE KNOW HOW HIS EMPLOYEES VOTED.

  12. Everyone that owns a westgate time share to sell it and never go back to one. People like this make me sick he looks like a red neck. What if people boycott his establishment. THIS IS WHY WE NEED TO VOTE Old ass rich white men.

  13. Do what you got to do. So what you aer saying is that the President is basically responsible for the tax code? Now you threaten your employees with layoff if they don’t vote the way that helps you keep your business running? Just another bully trying to scare people into doing what is best for you.Oh and I am still crying about the fact that Barack Obama is responsible for the fact that you had to take your children out of private schoolnd stop building you dream home Oh please give me a break you are nothing but a bully!!!!

  14. I am a business owner and have been for years. I agree with him 100%! The 1% CREATES JOBS, Facebook stated with three people. Now he employes hundreds. He is the 1%. You can not tax them to death they can and will take your job elsewhere. People don’t want to hear the truth, that’s why you except your elected officials lying to you. Obama and Romney are BS-ing us!

    They will not tell you the truth because they don’t have to. When you become a business owner you see things in a different light you are exposed to different things, most live better. It does not mean you are better your standard of living if you are successful will change. You don’t always believe all the BS.

    What is he saying different from all the other OBAMA supporters? It comes across different because he is rich? No you think he is arrogant because he is rich. I live in Florida and have close friends that work for him and he does care. He has given people opportunities that has changed blacks, whites, Latinos, Mexicans, Haitians and so on lives.

    He has given opportunities to people that have come from nothing and now have high positions in his company. i could go on and on. STOP believing everything you hear without questioning it. Let me as everyone this question if he and all the other 1% said the hell with this and shut their companies down and went to live in greece where the tax rates are more than favorable. What would you do, I know most of you will not have a job.

    Think about it if you clock in everyday that’s your job to clock in and earn your pay, but if the government started taxing you for state tax, federal tax, payroll tax, business tax and any other tax I may have missed all hell would break loose. Most people complain about FICA and medicare! He’s different, he can’t complain because he’s a billionaire the hell he can. It’s his money and he want’s to protect it like you!

  15. Phoenix Capital Research’s blog
    “In simple terms, today we are facing a Crisis that is far, far worse than 2008. Before it ends, it is quite possible that we will see the entire Western Financial System collapse and a new system put into place”. The wealthy would rather lie and keep this system that has given them so much in place, no matter how much pain the masses will endure. The cuts the wealthy have made on Spain and Greece has got the people in the streets. We are no better then them we just happen to live in the only nation on the planet that can print out fake money by the federal reserve. Soon all other nation will realize the dollar bill is a useless un payable debt. And then the collapse, stop sleeping we need a real change. Our fear of change is going to make our worst nightmare come true.

  16. CindyCruz,Why are you complaining that your folks work 70 hours with no breaks for lunch? Is there somebody standing over them with a whip forcing them to work like that? If not,why blame this president? At least your family got a business..Mr Mitt ain’t gonna do squat for you,me or anybody else.

  17. Sorry @cindycruz,
    Do you even know about wealth? Well I do and you are the incorrect one. The money that was lost was from money of the greedy rich, who heavily invested in stocks to hopefully gain even more money. Those who maintained sound businesses and put their money in securities did not lose much of anything. I’m not talking about rich people, where one gambler or a sick family member could wipe you out…I’m talking about wealthy.

    PLEASE NOTE the year 2007…President Obama was not in office.

    “Richer people owned more bonds that didn’t get killed,” Hoyt said. “For middle-income households, their primary asset is their house, and the government stimulus backstopped incomes at the low end.”

    The median family’s net worth dropped to $77,300 from $126,400 in 2007, the Fed said. The wealthiest 10% of families saw their median net worth rise 1.9% to $1.17 million.

  18. @mbsmckenney
    Your actually incorrect, ALL classes of people have gotten poorer over the past four years. More wealth has evaporated in the past four years than in anytime in history

  19. There you have it, Ladies and Gentlemen, straight from the person who creates wealth for HIMSELF. You can bet that none of his employees are rich or he would not be able to threaten them in this way. I don’t know if the tax code is a balanced system or not, but what I do understand is the rich get richer, while the poor get poorer and the middle class disappears. He whines about his long hours and not having an off day (his choice). Many Americans would love to have had a sample of the opportunity he’s had. Many a father could not get hire…not because of skill, but because of skin. Many a mother has had to leave her babies alone at home to work a second job, with little pay, long hours, no days off and the sacrifices without any lavishness at the end of the day; not because of her skill or skin, but because of her gender. If all things were equal, there would be no real issue, but Mr. Siegel should ask himself how he felt the economy was going when former President Bush left office. The current President Obama did not have any hand in any of the past administrations that helped to ran our economy into the ground. When Mr. Siegel’s was getting great tax cuts, there was no whining then, but now when he needs to help with the cleanup from that debacle….well let’s just say that when someone quoted, it takes money to make money, they were not talking about anyone who benefited while the rest of us were working really hard. Personally, I resent anyone who proclaims that no one works as hard as they do, just because we are not as rich as they are. If we were all rich, no one would be rich.

  20. David Siegel is a fool. Read the story about a fool call Nabal in the Bible 1Sam 25 and you’ll see your boss. He and his man Bush got the American people in this mess and now he wants to blame you. Read what happened to Nabal.

  21. WoW! He is really talking like he cares so much for his employees. When the real fact is, good or bad economy, he will lay off and ship jobs overseas just like the rest of the wealthy employers. Keep in mind it was Bush giving huge tax breaks to wealthy businesses who shipped jobs overseas which created a ripple effect on Wall Street and GM among others, which led to the U.S. economy crises. He is talking like he will go bankrupt overnight-Not True! When in fact, it is the common folk investing and buying his timeshares keeping him in business-Not the Government or President Obama. I am going to personally look at Westgate Resorts so that I may know what goods and services NOT to buy from him or any of his subsidiaries and advertisements. Westgate employees Do Not get bullied!!

  22. I am 50 years old and this world has been messed up for 50 years…..How the hell can POTUS screw up so much in 4 years???? I believe the Unemployment rate for our people is high because Repubs and Tea Party own most of the shit in the great U.S. A. They are purposely not hiring blacks so that we can be brainwashed to think everything is POTUS’s fault….I am not stupid white people, you just can’t stomach the fact of a black man leading you….I am still voting for POTUS…..Another for of voter suppression!!!!

  23. Has anyone given any thought to the fact that this economic system is finished, the only thing holding it up is the feds pumping in billions a month of money with no way to pay it back no one can fix it its done. We would all do better to start coming up with a new system before its to late and stop listening to the greedy wealthy trying to scrape and steal what crumbs are left in a dead economy its no coming back its over. Sorry to bear the real news.

  24. I was in Hilton Head in July, went to a Westgate time share presentation and I am not surprised, I was not impressed with the way his people try to strong arm u into buying into the time share. So glad I did not buy into this company, seems everything is President Obama’s fault, get cho life (as Tamar says).

  25. He’s a billionaire. He knows that Mitt is going to lose, so he is saying this. As the article stated, he is responsible for the election of President Bush. He is one of the ‘haters’, that can’t stand for MY President, being smarter than Dubya.

  26. To all the posters knocking this guy….. He is actually one of the few who are vocalizing their frustration at the economy and future prospects.
    My parents and I went to the Hispanic Business Expo this past spring and almost all of the attendees were dejected over the economy and so many said they were ready to quit and get out.

  27. My parents own a restaurant, they work 70 hours a week and they are saying “Is it worth it?!?!”
    When the government takes away the incentives(including limiting the amount of money you can make) to take risks and do better for your family…. everybody in this nation will become less wealthy and poorer.

  28. Sorry to say but I don’t blame him, he is RIGHT! This is prob a fake chain letter but whoever wrote it from a business owners standpoint is right….you don’t make a ton of money unless you have worked very hard and what’s the point if all of it is going to the tax man…oh and he makes other great points. I voting for ROMNEY all the way, believe me he’s not the only business owner thinking this or this rather is right out of the minds of most business owners today. That is why Romney actually has a shot now! Good luck, vote for who YOU WANT and I will too.

  29. Isn’t it interesting that he blames a tax code that was partially established before the current politicians. Let me remind voters that the Regan “trickle” down theory of economics. That plan did not work either. Many of the 99 per centers did not benefit from that plan. Some were worse of. But there is hope. Vote!

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