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<DIV><FONT face=Arial size=2>Ugly, but not particularly surprising....The
robo-call I got yesterday from Mike Huckabee supporting his "good friend Todd
Aiken" whom, "as you know" is being pilloried "by the liberal media" was a bit
of a surprise....Why me? Why in Idaho? Who's paying the bill for the calls? Who
thinks either Huckabee or Aiken is credible? Things that make me go
"Huh?"....</FONT></DIV>
<DIV><FONT face=Arial size=2>Debi R-S</FONT></DIV>
<DIV> </DIV>
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<DIV style="FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black"><B>From:</B>
<A title=ghazi@uidaho.edu href="mailto:ghazi@uidaho.edu">S.M. Ghazanfar</A>
</DIV>
<DIV style="FONT: 10pt arial"><B>To:</B> undisclosed-recipients</DIV>
<DIV style="FONT: 10pt arial"><B>Sent:</B> Friday, October 19, 2012 7:00
PM</DIV>
<DIV style="FONT: 10pt arial"><B>Subject:</B> Fwd: Fwd: [Writers Forum] CEO of
Westgate Resorts: You could be fired if Obama winds</DIV>
<DIV><BR></DIV>CEO to Workers: I May Fire You if Obama Wins
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<DIV class=bd><A
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moz-do-not-send="true"></A><CITE class="byline vcard">By <SPAN class=fn>Robert
Frank</SPAN> | <SPAN class="provider org">CNBC</SPAN> – <ABBR
title=2012-10-10T13:44:55Z>7 hours ago</ABBR></CITE></DIV></DIV>
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<DIV>David Siegel, the owner of Westgate Resorts, sent a surprising email to
his employees Monday. </DIV>
<DIV><SPAN class=yui-editorial-embed><SPAN
class="yom-figure yom-fig-left"><IMG class="editorial " title="David Siegel"
alt=""
src="http://l3.yimg.com/bt/api/res/1.2/1T3xAfVwY5Bx7Z_dBzDqKg--/YXBwaWQ9eW5ld3M7cT04NTt3PTIyMA--/http://media.zenfs.com/en-US/video/video.hulu.com/1da5066e2d85f3a402843e4f56459d66"
width=220 moz-do-not-send="true"><SPAN class=legend>David
Siegel</SPAN></SPAN></SPAN>It said that if President Barack Obama wins
re-election and raises Siegel's taxes, he will have to lay off workers and
downsize his company - or even shut it down. </DIV>
<DIV>"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," he wrote. "Rather than grow this company I will be forced to cut
back. This means fewer jobs, less benefits and certainly less opportunity for
everyone." </DIV>
<DIV>In a version of Romney's "47 percent" remarks, Siegel added that "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." </DIV>
<DIV>The points are ones that have often been made during this election. But
what makes the letter surprising is the source. <BR><BR><STRONG><A
href="http://www.cnbc.com/id/49356069?__source=yahoo%7Cceoworkersobamareelected%7C&par=yahoo"
moz-do-not-send="true">See this slideshow: 10 Highest Paid
CEOs</A></STRONG><BR><A
href="http://www.cnbc.com/id/49356069?__source=yahoo%7Cceoworkersobamareelected%7C&par=yahoo"
moz-do-not-send="true"><SPAN class=yui-editorial-embed><SPAN
class="yom-figure yom-fig-left"><IMG
class="editorial
" alt=""
src="http://l1.yimg.com/bt/api/res/1.2/O98ddMPChjP6B4wUSuDoKQ--/YXBwaWQ9eW5ld3M7cT04NTt3PTQyMA--/http://l.yimg.com/os/284/2012/10/10/Highest-Paid-CEOs-2012-CNBC-420-jpg_153059.jpg"
width=420
moz-do-not-send="true"></SPAN></SPAN></A><BR><BR><BR><BR><BR><BR><BR>David
Siegel is the man who, together with his wife, Jackie, built the largest new
house in America, known as "Versailles." His story first appeared in my book,
"<SPAN>The High-Beta Rich</SPAN>." It then made it to the big screen with
documentary film "<SPAN>The Queen of Versailles</SPAN>." </DIV>
<DIV>They became symbols of outsized spending, debt and real estate in
America. </DIV>
<DIV>But when the company started buckling under $1 billion in debt during the
crisis, the Siegels' home went into foreclosure and was put up for sale. They
cut back on the jet, took the kids out of private school and gave up some of
their staff.</DIV>
<DIV>So why is David Siegel - a man who defined excess and debt in the 2000s -
now saying that debt and spending are ruining the country? </DIV>
<DIV>I asked David during a phone interview last night, and he told me that
this was about his workers, not himself. He said his own finances have vastly
improved. He has paid off all of his major lenders. "I have enough money for
the rest of my life and enough to leave a good inheritance for our kids." He
said the loan for Versailles is paid off and he's resuming construction on the
home.</DIV>
<DIV>"The elevators are going in and they're preparing to put in the marble."
</DIV>
<DIV>The deal with Versailles' lenders, he went on, worked out "better than I
imagined," since he was allowed to go nine months without making any interest
payments on the loan. Jackie has several offers for a new reality TV show
"which we're in the process of ranking and evaluating," Siegel said.</DIV>
<DIV>He has learned his own painful lesson from the debt crunch. "We cut back,
we're lean and mean. That's what the rest of the country has to do." </DIV>
<DIV><STRONG>[More From CNBC: <A
href="http://www.cnbc.com/id/49264581?__source=yahoo%7Cceoworkersobamareelected%7C&par=yahoo"
moz-do-not-send="true">Why Does Larry Ellison Need a $4 Billion Line of
Credit?</A>)</STRONG></DIV>
<DIV><BR>Siegel said he's not acting out of self interest, but for the
interest of his workers. While Westgate has never been more profitable, the
company has 5,000 fewer workers than in 2007. </DIV>
<DIV>He said that if Obama is re-elected and imposes Obamacare and higher
taxes, he may just have to let more of his remaining 7,000 workers go. He said
he might even shut down the company. </DIV>
<DIV>"The combination of Obamacare and taxes would be a disaster," he said." I
would probably just call it a day and that would be a disaster." </DIV>
<DIV>Siegel stressed that he wasn't out to intimidate his workers into voting
for Romney. "I can't tell anyone to vote," he said. But he wants to make sure
his workers made an informed choice. "I want my employees to be educated on
what could happen to their future if the wrong person is elected." </DIV>
<DIV>Below is the full email that Siegel sent to his employees Monday. (Siegel
admitted to me that he used a similar email circulating on the web as "the
basis" of his own email). </DIV>
<BLOCKQUOTE>
<DIV>Subject: Message from David Siegel </DIV>
<DIV>Date:Mon, 08 Oct 2012 13:58:05 -0400 (EDT) </DIV>
<DIV>From: [David Siegel] </DIV>
<DIV>To: [All employees] </DIV>
<DIV>To All My Valued Employees, </DIV>
<DIV>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. </DIV>
<DIV><STRONG>[More From CNBC: <A
href="http://www.cnbc.com/id/49333355?__source=yahoo%7Cceoworkersobamareelected%7C&par=yahoo"
moz-do-not-send="true">The Rich Prefer Good Weather Over Low
Taxes</A>]</STRONG></DIV></BLOCKQUOTE>
<BLOCKQUOTE>
<DIV>However, let me share a few facts that might help you decide what is in
your best interest.The current administration and members of the press have
perpetuated an environment that casts employers against employees. They want
you to believe that we live in a class system where the rich get richer, the
poor get poorer. They label us the "1%" and imply that we are somehow immune
to the challenges that face our country. This could not be further from the
truth. Sure, you may have heard about the big home that I'm building. I'm
sure many people think that I live a privileged life. However, what you
don't see or hear is the true story behind any success that I have achieved.
</DIV></BLOCKQUOTE>
<BLOCKQUOTE>
<DIV>I started this company over 42 years ago. At that time, I lived in a
very modest home. I converted my garage into an office so I could put forth
100% effort into building a company, which by the way, would eventually
employ you. We didn't eat in fancy restaurants or take expensive vacations
because every dollar I made went back into this company. I drove an old used
car, and often times, I stayed home on weekends, while my friends went out
drinking and partying. In fact, I was married to my business - hard work,
discipline, and sacrifice. Meanwhile, many of my friends got regular jobs.
They worked 40 hours a week and made a nice income, and they spent every
dime they earned. They drove flashy cars and lived in expensive homes and
wore fancy designer clothes. My friends refinanced their mortgages and lived
a life of luxury. I, however, did not. I put my time, my money, and my life
into this business --with a vision that eventually, some day, I too, will be
able to afford to buy whatever I wanted. Even to this day, every dime I earn
goes back into this company. Over the past four years I have had to stop
building my dream house, cut back on all of my expenses, and take my kids
out of private schools simply to keep this company strong and to keep you
employed. <STRONG><BR></STRONG></DIV>
<DIV>Just think about this - most of you arrive at work in the morning and
leave that afternoon and the rest of your time is yours to do as you please.
But not me- there is no "off" button for me. When you leave the office, you
are done and you have a weekend all to yourself. I unfortunately do not have
that freedom. I eat, live, and breathe this company every minute of the day,
every day of the week. There is no rest. There is no weekend. There is no
happy hour. I know many of you work hard and do a great job, but I'm the one
who has to sign every check, pay every expense, and make sure that this
company continues to succeed. Unfortunately, what most people see is the
nice house and the lavish lifestyle. What the press certainly does not want
you to see, is the true story of the hard work and sacrifices I've made.
</DIV>
<DIV>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? </DIV>
<DIV>Obviously, our present government believes that taking my money is the
right economic stimulus for this country. The fact is, if I deducted 50
percent of your paycheck you'd quit and you wouldn't work here. I mean, why
should you? Who wants to get rewarded only 50 percent of their hard work?
Well, that's what happens to me. </DIV>
<DIV>Here is what most people don't understand and the press and our
Government has chosen to ignore - to stimulate the economy you need to
stimulate what runs the economy. Instead of raising my taxes and depositing
that money into the Washington black-hole, let me spend it on growing the
company, hire more employees, and generate substantial economic growth. My
employees will enjoy the wealth of that tax cut in the form of promotions
and better salaries. But that is not what our current Government wants you
to believe. They want you to believe that it somehow makes sense to take
more from those who create wealth and give it to those who do not, and
somehow our economy will improve. They don't want you to know that the "1%",
as they like to label us, pay more than 31% of all the taxes in this
country. Thomas Jefferson, the author of our great Constitution, once said,
"democracy" will cease to exist when you take away from those who are
willing to work and give to those who would not." </DIV>
<DIV><STRONG>[More From CNBC: <A
href="http://www.cnbc.com/id/48672541?__source=yahoo%7Cceoworkersobamareelected%7C&par=yahoo"
moz-do-not-send="true">The Most Expensive Apartments in New York
City</A>]</STRONG></DIV>
<DIV><BR>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. </DIV>
<DIV>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. </DIV>
<DIV>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. </DIV>
<DIV>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. </DIV>
<DIV>Signed, your boss, </DIV>
<DIV>David Siegel </DIV></BLOCKQUOTE>
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<!--~-|**|PrettyHtmlEnd|**|-~--><!-- end group email --><BR>
<DIV class=moz-signature>-- <BR><B>S.M. Ghazanfar, Ph.D. Professor of
Economics [1968-2002; Emeritus, 2002; Dept.Chair, '79-81,
'93-01;<BR></B><B>Director, Int'l Studies Program, '89-93; Adj.Prof
(2003-08)]<BR></B><B>University of Idaho, ALB 219 Moscow, Idaho 83843 (USA)
<BR></B><B>Homepage: <A class=moz-txt-link-abbreviated
href="http://www.webpages.uidaho.edu/%7Eghazi"
moz-do-not-send="true">www.webpages.uidaho.edu/~ghazi</A> <BR></B><B>Aldous
Huxley: “By selective information, or lack of information, we create a <B>new
paradigm.” <BR></B></B></DIV><BR></DIV><BR><BR>
<DIV class=moz-signature>-- <BR><B>S.M. Ghazanfar, Ph.D. Professor of
Economics [1968-2002; Emeritus, 2002; Dept.Chair, '79-81,
'93-01;<BR></B><B>Director, Int'l Studies Program, '89-93; Adj.Prof
(2003-08)]<BR></B><B>University of Idaho, ALB 219 Moscow, Idaho 83843 (USA)
<BR></B><B>Homepage: <A class=moz-txt-link-abbreviated
href="http://www.webpages.uidaho.edu/~ghazi">www.webpages.uidaho.edu/~ghazi</A>
<BR></B><B>Aldous Huxley: “By selective information, or lack of information,
we create a <B>new paradigm.”
<BR></B></B></DIV><BR><BR></DIV><BR></BLOCKQUOTE></BODY></HTML>