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Old Oct 11, 2012, 04:12 PM
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Tucker, Georgia, United States
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It’s a bit hard to reconcile all this with the fact that Siegel is also the man who tried to build his wife a modern day castle so opulent that it might have ended up as the biggest private home in America. It never did get completed and indeed, these days Siegel is likely best remembered for his starring role in the award-winning documentary, The Queen of Versailles, about him and his wife Jacqueline, a former Miss Florida three decades his junior, who hit rough times during the economic crisis and subsequent credit crunch. The couple eventually had to suspend building on their 90,000 sq. foot compound dubbed Versailles, which was expected to have, among many other features, 6 pools, 10 kitchens and 30 bathrooms.

I met Siegel and visited the construction site of the massive house back in 2007, a year before the financial crisis hit. I had flown to Florida after his team had tried unsuccessfully to lobby for a spot on the Forbes 400, insisting his personal fortune was $1.8 billion. In my subsequent profile of him, I pegged it at $1 billion; it is now much lower.

Back then, I was struck by his company’s use of leverage. As of 2006, it had $816 million worth of notes payable and lines of credit, more than its sales, and Siegel himself had lent the company more than $100 million out of his pocket. “It takes a lot of money to keep the business running,” Siegel told me, “You have to keep borrowing to keep growing.” The same could be said for his lower-to-middle class customers – he referred to them as the “Johnny Lunch-Bucket crowd,” who “shop at Wal-Mart” and otherwise would stay in a “Ramada Inn” – who were borrowing to buy up timeshares in places like Orlando, Williamsburg, Va, and Gatlinburg, Tennessee. When banks started tightening their lending practices in the wake of the financial crisis, the buyers ran into financial problems and his business came to a halt. He had to lay off 7,000 of his 12,000 employees.

I checked in with Siegel on the eve of last summer’s release of the Versailles documentary. At the time he insisted everything was going great, that the movie had blown everything out of proportion for entertainment value and that he expected to restart construction on his giant house soon. He even predicted he would one day be on the Forbes 400. Plus he made a point of telling me he’d been hiring and now had 6,000 employees, up from 5,000. In his letter to employees yesterday, he claimed to be up to 7,000. So he’s actually hired 2,000 in recent years, even with President Obama in office.
http://www.forbes.com/sites/luisakro...is-re-elected/


Wow, he really is a saint, he hired 2000 employees during the Obama years. He probably didn't even need them. I mean, how could he? From what he is saying, his business was going to hell because of Obama.

He calls his customers, the Johnny lunch bucket crowd who shop at WalMart.

I can see why some here find him to be their hero.
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Old Oct 11, 2012, 04:16 PM
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United States, CA, Pinole
Joined Jan 2009
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Originally Posted by billyd60 View Post
There is simply not one single valid and factual reason to vote for Obama, by any American interested in protecting the constitution or the country's sovereignty.

He is attempting to dismantle the country and reassemble it into his twisted idealogical view of what it should be.

He has screwed everyone. Left, right, center, you name it. He has failed by every measurable. He has done the exact opposite of everything he promised. Anyone that is still voting for Obama at this point is either:

1. Not paying attention to what he's doing
2. Mentally challenged
3. Wants America to fail as a sovereign nation

Since #2 is sort of tongue in cheek, it's most likely 1 or 3. I don't want people who are ignorant or treasonous working at my company.
The Sky is falling !!!!!!!!!!!!!!!!!!!!!!!!


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Old Oct 11, 2012, 04:26 PM
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S. FL
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Originally Posted by Bill Harris View Post
Then hopefully one day you'll be smitten with a company full of like-minded employ-ees.
One thing is for sure, they will all have to be property or business owners as in his world only these folks would/should be able to vote.
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Old Oct 11, 2012, 04:31 PM
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Tucker, Georgia, United States
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Seigel claims to be personally responsible for getting Bush elected. More employee politicking...

Quote:
“I’m not bragging, I’m just stating the fact: I personally got George W. Bush elected,” Siegel told me during two days of interviews. “I’m not proud of it. I feel like I’m responsible for all the problems in the world.” By that he meant, mostly, the then-deteriorating situation in Iraq.

Here’s Siegel’s account of how he swung the election in Bush’s favor: “Whenever I saw a negative article about [Al] Gore, I put it in with the paychecks of my 8,000 employees. I had my managers do a survey on every employee. If they liked Bush, we made them register to vote. But not if they liked Gore. The week before [the election] we made 80,000 phone calls through my call center—they were robo-calls. On Election Day, we made sure everyone who was voting for Bush got to the polls. I didn’t know he would win by 527 votes. Afterward, we did a survey among the employees to find out who voted who wouldn’t have otherwise. One thousand of them said so.”
http://www.businessweek.com/articles...-got-w-elected
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Old Oct 11, 2012, 04:37 PM
Холодная война все еще здесь.
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Originally Posted by billyd60 View Post
There is simply not one single valid and factual reason to vote for Obama, by any American interested in protecting the constitution or the country's sovereignty.

He is attempting to dismantle the country and reassemble it into his twisted idealogical view of what it should be.
Dysfunctional voters. Obama relies on the dysfunctional. Those that can not make it or believe they can not make it. That is his base. You can see these people on day time T.V.... You know those shows that are named after the hosts such as Jerry Springer... There you will see the Obama Voters in all their glory.

Just as they are dysfunctional they need to live in a place equally dysfunctional. So they are trying to create it here. All they need do is to get on a plane to the pre-existing socialist utopia of their choice and leave America for the rest of us.

Life in the fast lane... advanced dysfunctional living can be found in Greece. Why wait for a financial collapse when it can already be yours!
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Old Oct 11, 2012, 05:03 PM
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So you are a fan of daytime TV and Jerry Springer... interesting.
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Old Oct 11, 2012, 05:08 PM
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Hampshire, UK
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Originally Posted by RCWorks View Post
Dysfunctional voters. Obama relies on the dysfunctional. Those that can not make it or believe they can not make it. That is his base. You can see these people on day time T.V.... You know those shows that are named after the hosts such as Jerry Springer... There you will see the Obama Voters in all their glory.

Just as they are dysfunctional they need to live in a place equally dysfunctional. So they are trying to create it here. All they need do is to get on a plane to the pre-existing socialist utopia of their choice and leave America for the rest of us.

Life in the fast lane... advanced dysfunctional living can be found in Greece. Why wait for a financial collapse when it can already be yours!
I have no idea if that's true or not.... I have a complete idea that that is just more plain insults leveled at others just because 'they don't think your way'!

More stinking piles of partisan B/S!

(Speaking as one who doesn't vote for either, and with no dog in the game for either side... )
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Old Oct 11, 2012, 05:17 PM
Холодная война все еще здесь.
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Originally Posted by Treetop View Post
So you are a fan of daytime TV and Jerry Springer... interesting.
Actually I get a dose of that in the lobby at the O.U. Medical center while waiting.

All the guests and host look and sound like everything I have come to expect from the democrat party. I bet they register voters there.
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Old Oct 11, 2012, 06:12 PM
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Nobody cares that you have judged more than half the population as not meeting your supposed high standards. If it makes you feel better, keep ranting.
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Old Oct 11, 2012, 06:32 PM
It's 5 O'clock Somewhere
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Dayton, OH
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Originally Posted by Treetop View Post
http://www.forbes.com/sites/luisakro...is-re-elected/


Wow, he really is a saint, he hired 2000 employees during the Obama years. He probably didn't even need them. I mean, how could he? From what he is saying, his business was going to hell because of Obama.

He calls his customers, the Johnny lunch bucket crowd who shop at WalMart.

I can see why some here find him to be their hero.
You can bash the man all you want but what he put in his letter to his employees was spot on.
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Old Oct 11, 2012, 06:45 PM
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Originally Posted by RumRunner_1492 View Post
You can bash the man all you want but what he put in his letter to his employees was spot on.
Define spot on. Obviously, the man got hurt during the crash under Bush, laid off 7000 employees, and made something of a comeback by hiring 2000 during the Obama administration. So his facts don't jibe with his letter.


He also insults his customers, and if you do a Google on Westgate Resorts, you will find lots of folks unhappy with his company's methods.
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Old Oct 11, 2012, 07:55 PM
Холодная война все еще здесь.
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Originally Posted by Treetop View Post
Nobody cares that you have judged more than half the population as not meeting your supposed high standards. If it makes you feel better, keep ranting.
When I was young there were decency standards for TV, what the happened?
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Old Oct 11, 2012, 07:59 PM
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Originally Posted by Bill Harris View Post
Pretty incredible, Tree. I don't think they even read that article. And he runs a company that is so vital to the economy: timeshares. And apparently fleeces customers well enough to become a billionaire.

Meh.

--Bill
..one thing about that "fleecing" I've yet to see or hear of a customer being forced to buy a time share with a gun held to their head.
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Old Oct 11, 2012, 08:25 PM
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Backwoods Alabama
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Originally Posted by daddiozz View Post
..one thing about that "fleecing"
Read up, then:
http://www.google.com/search?hl=en&c...iw=948&bih=680



Siegel is a real winner:
Quote:

Sexual Harassment Lawsuit

Westgate Founder David Siegel was found guilty of sexual harassment in a lawsuit brought by former Westgate employee Georgette Meyers.[4] Meyers worked for Westgate for 14 years. She claimed that Siegel offered a million dollars to have sex with her. Meyers claimed that she had to repeatedly fight off unwanted advances from Siegel, and a Florida court awarded Meyers $5.4 Million in damages in February 2008.

http://en.wikipedia.org/wiki/Westgate_Resorts
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Old Oct 11, 2012, 08:36 PM
It's 5 O'clock Somewhere
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Dayton, OH
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Originally Posted by Treetop View Post
Define spot on. Obviously, the man got hurt during the crash under Bush, laid off 7000 employees, and made something of a comeback by hiring 2000 during the Obama administration. So his facts don't jibe with his letter.


He also insults his customers, and if you do a Google on Westgate Resorts, you will find lots of folks unhappy with his company's methods.
They absolutely jibe with his letter. The major cost of Obamacare has not come into place yet. That alone will tremendously add to his costs. There are other companies stating they will cut headcount or trim hours to avoid the costs. What he said is exactly correct and he is not alone.

I don't care if he is a bad guy or if his customers like him. That has nothing to do with his letter.
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