If you remember back to the ’12 Election, CEO of Westgate Resorts David Siegel told his employees that he may have to lay them off if Barack Obama was reelected as president.
If you were wondering how that subtle threat to thousands of people who depend on him turned out, you may be a little amused.
Just over two years after penning that company-wide email, Siegel informed Westgate employees that instead of layoffs, he would boost their minimum wage to $10 per hour beginning in 2015.
In fact, according to Siegel, 2014 was a banner year. “We’re experiencing the best year in our history and I wanted to do something to show my gratitude for the employees who make that possible,” Siegel said in announcing the wage hike. He also recently told the Orlando Business Journal that “things have never been better.”
Back in ’12, Siegel was convinced that any tax increase on his income bracket would result in job losses, which cause he to “be forced to cut back” instead of growing his company. But according to ThinkProgress, Siegel’s company has grown significantly in the two years since taxes were modestly increased on the wealthy.
In 2014 alone, Siegel and Westgate bought a hotel in Las Vegas for $180 million, began constructing a new $11 million retail center in Orlando, and purchased the Cocoa Beach Pier. Siegel also acquiredthe Orlando Predators Arena Football team and continued constructing his 90,000 square-foot mansion, which will be the biggest in America once completed.
So just in case any of you were banking on Obama’s socialist revolution to destroy American business, Siegel might not be the person to look for as an example.