CEO Proven Wrong on Obama Prediction

CEO Proven Wrong on Obama Prediction January 6, 2015

In 2012, the CEO of a company sent an email to his employees telling them that if Obama were to be reelected, the results would be devastating for that company and would threaten their jobs and their benefits. Two years later, the company has grown significantly and he’s handing out raises.

In the lead-up to the 2012 presidential election, David Siegel, billionaire chief of Florida timeshare company Westgate Resorts, sent an email to all employees. “Of course, as your employer, I can’t tell you whom to vote for,” Siegel wrote, but offered “a few facts that might help you decide what is in your best interest.” These included that re-electing Obama would “threaten your job” and result in “less benefits and certainly less opportunity for everyone.”

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.”…

Despite writing in 2012 that any tax increases on the wealthy would mean job losses — “Rather than grow this company I will be forced to cut back,” he said at the time — Siegel has been extraordinarily successful growing Westgate in the two years since taxes were modestly increased on the wealthy.

Another failed prediction of doom, just like Donald Trump predicting a stock market crash and Newt Gingrich predicting $10 a gallon gas if Obama was reelected. And Ted Nugent, sadly, still isn’t in prison or dead.


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