David Siegel, the founder and CEO of real estate company Westgate Resorts, is a true piece of work. The billionaire real estate mogul sent a letter to employees that threatened to fire many of his employees if Obama is reelected and told them to consider that when they voted in November. The letter informed his workers that “What does threaten your job however, is another 4 years of the same Presidential administration.” Forbes has pictures of the struggling Joe Six Pack in his gilded throne and equally gilded wife.
In the letter, Siegel expressed desperate frustration with his pitiless existence as a hard-working businessman:
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.
The suffering experienced by Siegel and his wife has led them to create a humble home that has attracted international expressions of condemnation. The house modeled on Versailles is two acres with nine kitchens and 90,000 square feet — bigger than a 747 airplane hangar. The home’s mahogany doors and windows alone cost $4 million. By the way, this ABC interview captures Siegel’s craven lifestyle and relationship with his wife, who he insists does not give him any “strength.”
The thought of Siegel penning this heart-felt and desperate letter at the kitchen table of one of the nine kitchens in the mansion is truly heart-breaking.
Here is the letter:
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. […]
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. […]
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.
Signed, your boss,
David Siegel
Who will watch over caring men like Siegel? I ask you.
Of course, Siegel gave the world’s least helpful story for Romney since it parallels the no infamous comments at a fundraiser:
Siegel’s letter has been a wake up call for many. So where am I going with all this? It’s quite simple. If a candidate from either of the two monopoly parties is elected, I will have no choice but to reduce the size of this blog. Rather than grow this blog I will be forced to cut back. Since our budget and staff is zero, this will be even more severe in terms of cuts than Siegel’s plan. So, when you make your decision to vote, ask yourself, how will this affect Jonathan?
Thank you for your time.
Source: WESH
For chrissake don’t you folks understand politics. Big donors hedge their bets, and go heavier on their bets if they think they know the winner. You surely don’t think this is about idealogy, do you? It’s about access and power.
I went to Google Images and looked up his 90K square foot house. It is a cookie cutter design with absolutely no imagination. Looks like something you can get out of one of those house plan books from the drugstore magazine rack.
Maybe I am spoiled by living close to the Biltmore Estate in Asheville, which is a truly inspiring piece of elegant architecture. Maybe the fact that Fredrick Law Olmstead was one of the architects has something to do with it. Also, somebody ought to tell Mr. & Mrs. Siegel that Biltmore is STILL the largest privately owned home in the country at 175,000 square feet. And instead of sitting on a sandbar of just a few acres, Biltmore sits on 8,000 acres of beautifully landscaped gardens and wooded hills.
https://www.google.com/search?q=biltmore+house&hl=en&prmd=imvns&tbm=isch&tbo=u&source=univ&sa=X&ei=3Yp1UJ6DOs3E0AGXwYCwDQ&sqi=2&ved=0CFQQsAQ&biw=1120&bih=501
KFC,
Obamas connection to Goldman is not a oily as your hair, I bet.
http://www.thedailybeast.com/articles/2012/10/09/wall-street-showers-romney-campaign-with-donations-abandons-obama.html Sure, Karl, but they have abandoned him this cycle and are being very outspoken about as are David Siegel and Jack Welch.
SMom: You ever done a Google search on Obama’s connections to Goldman Sachs?
http://www.forbes.com/sites/luisakroll/2012/10/10/more-on-timeshare-mogul-threatening-to-shut-down-his-business-if-obama-is-re-elected/
Swarthmore mom-
Maybe if we are lucky, in twenty years we may be watching the sequel to “The Queen of Versailles”-
“Dave and Jackie: Grey Gardens Part Two.”
http://www.huffingtonpost.com/2012/10/09/goldman-sachs-obama-romney-contributions_n_1950944.html Investment bankers are all in for Romney.
Karl, Really? Goldman Sachs prefers Romney too. I think it has something to do with tax policy.
Siegel brags in the movie about how much money he gave to Bush and how hard he worked for him.
Mike S, I saw the movie and Siegel was not brought up rich but if I remember correctly his parents had a fascination with Vegas.
The main reason Siegel is such a fool is not so much his greed & hubris but his political naivete in thinking there’s such a great difference between the 2 candidates.
As Glenn Greenwald writes here in “Election Year Garbage” http://www.guardian.co.uk/commentisfree/2012/oct/09/election-cycle-garbage-romney and again last week during the debate: “The US presidential debates’ illusion of political choice… is not what separates Romney and Obama, but how much they agree. This hidden consensus has to be exposed: http://www.guardian.co.uk/commentisfree/2012/oct/04/third-party-us-presidential-debate-deceit
Thisi is BS how is he to know who voted for who, as for the economy 5 trillion more in debt and no improvement, But it’s your vote
SWM, Great trailer. I doubt the Queen’s rack is real. I know so many folks who bought into these time shares. I worked a few cases[fraud] and one sexual harassment case[disgusting details] involving the sales staff of a large time share. However, even if I had not worked those cases just the high pressure slimey persona of these time share salespeople was enough to tell me no way. They literally walk beaches trying to get people to buy. They were a pox on a family reunion vacation we had on Cape Cod back in the 80’s. Glengary Glen Ross tells you all you need to know.
someday the blind will see……
……..beyond their pocketbooks……
Complementing SwM’s link here is a review of the documentary from the Orlando Sentinel: http://www.orlandosentinel.com/entertainment/movies/nm-ht33filmversailles-20120809,0,2722799.story . I tried, but was unable to cursorily find Siegal’s biography, particularly looking into the circumstances of his childhood. Whenever I hear of some billionaire use a phrase like:
“You see, I can no longer support a system that penalizes the productive and gives to the unproductive.”
I envision some poor little rich boy like Donnie Trump. As to this diktat from
Professor Turley:
“Rather than grow this blog I will be forced to cut back. Since our budget and staff is zero, this will be even more severe in terms of cuts than Siegel’s plan. So, when you make your decision to vote, ask yourself, how will this affect Jonathan?”
I would be devastated to have to accept less than nothing for the uncompensated work I do for you. how mush will we guest bloggers have to pay you to continue? I do remember having to sign and date our contract at the beginning of our employment and what sticks to memory is the phrase:
“I will always remember to ask not what Turley can do for me, but what I can do for Turley”.
Also the signing in blood was rather messy.
What Catulius said … oh … and General S. Butler too:
(General S. Butler, 1933 speech). Wanna bet this kingly dude would say “bomb bomb bomb Iran” or I’ll fire the whole lot of you?
“You see, I can no longer support a system that penalizes the productive and gives to the unproductive.”
The “boss” is right: Wall Street, the big banks, the auto industry, the Military Industrial Con-gressional Complex and corporate America should not be entitled to one thin dime from the pocket of the productive American taxpayer.
Who does this retard thinks buys his shifty property…… It’s not the 1%….. It’s the folks that make less than 100k per year….
Jonathan….. You have many wishing you only the best…..now why would budgetary constraints impact the 401ks these guest bloggers have as a result of the message delivered….