Politics

Billionaire David Siegel Gives Employees Raise, Denies Threatening to Fire Them if Obama Won

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Timeshare mogul, billionaire and Mitt Romney supporter David Siegel warned his employees earlier this year, via email, that he would have to fire some of them if President Obama was re-elected.

However, now Siegel has decided to give his 65,000 employees a raise.

Siegel told Bloomberg Businessweek: "I’m going to work my hardest to keep the company going and expand the best I can. We’ll see what happens. Meanwhile I gave everybody in the company a raise this week,the average was 5 percent. I wanted to help them handle the additional burdens the government will put on them."

Siegel did not say exactly what these "additional burdens" from the government are.

Siegel also claimed that he did not influence his employees to vote: "I didn’t do a thing. I just wished employees luck. I didn’t do anything to encourage or discourage employees, to find out who their preference was. I had said enough. If they believed me, they knew what to do. If they didn’t believe me, they knew what to do."

However, in October, Siegel emailed a letter to his employees which said: "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. 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."

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