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Mon Nov 12, 2012, 11:32 PM

Anti-Obama CEO gives raises instead of pink slips

This discussion thread was locked as off-topic by Tx4obama (a host of the Latest Breaking News forum).

Source: CNN Money

NEW YORK (CNNMoney)

David Siegel, the CEO who had warned his employees they'd face layoffs if President Obama was re-elected, gave everyone a 5% raise last week instead.

Siegel isn't backing off his gloomy predictions for the economy under Obama's second term. But he said his company, Westgate Resorts, had record profitability this year and he wanted to share the success with employees, most of whom had not gotten a raise the year before.

The CEO said he believes his employees will need higher wages to deal with increased costs he expects everyone will face under Obama. And he's not backing off his prediction that developments like Obamacare and the Dodd-Frank financial regulations will hurt the economy in the years ahead -- and could lead him to make staff cuts eventually.

"I never told anyone if Obama got elected, I was firing anybody. That just got twisted by the media," said Siegel in a phone interview on Monday.

What he did say in an e-mail he sent in early October to all 7,000 employees of the privately held company is: "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.

"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 at that time. "Rather than grow this company I will be forced to cut back. This means fewer jobs, less benefits and certainly less opportunity for everyone."


Read more: Anti-Obama CEO gives raises instead of pink slips Read more: http://www.kcra.com/news/money/Anti-Obama-CEO-gives-raises-instead-of-pink-slips/-/11797182/17375868/-/117w5b4z/-/index.html#ixzz2C4dTRMoA



knucklehead

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Reply Anti-Obama CEO gives raises instead of pink slips (Original post)
trailmonkee Nov 2012 OP
msongs Nov 2012 #1
BlueCaliDem Nov 2012 #2
Cha Nov 2012 #3
Tx4obama Nov 2012 #4

Response to trailmonkee (Original post)

Mon Nov 12, 2012, 11:36 PM

1. "i will be forced to cut back" sounds a bit like a threat does it not? nt

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Response to trailmonkee (Original post)

Mon Nov 12, 2012, 11:38 PM

2. BEEP-BEEP-BEEP! eom

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Response to trailmonkee (Original post)

Mon Nov 12, 2012, 11:41 PM

3. Nothing like a Successful CEO Whining about Pres Obama.. Is there?!!

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Response to trailmonkee (Original post)

Mon Nov 12, 2012, 11:44 PM

4. Locking, sorry. LBN Dupe. Please continue discussion on LBN link below


November 8th LBN OP regarding the raises, here: http://www.democraticunderground.com/1014295921

Thanks

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