Quantcast

'Queen of Versailles' tycoon isn't laying anyone off yet

Published November 8, 2012 12:12 pm

This is an archived article that was published on sltrib.com in 2012, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

A month ago, we heard from David Siegel — the litigation-prone vacation timeshare mogul — who told his employees via email that their jobs may be at risk if Barack Obama was elected president.

Well, now that President Obama has been re-elected, what's Siegel got to say?

In an interview with Bloomberg Businessweek, Siegel relented a bit. When asked if he would lay off employees, Siegel answered, "I don't know. 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's Westgate Resorts empire includes a resort in Park City, Utah — where this January his wife Jackie hit the red carpet for the Sundance Film Festival premiere of the documentary "The Queen of Versailles."