This JERK OF THE WEEK feature is a double-edged sword: It’s great because there’s so many people from which to choose, but it sucks because there are so many people from which to choose.
Being the consummate professional (and a jerk myself), however, I’m not about to stop.
This week’s wiener (shh … must be a typo) is living proof that being able to achieve financial success is no indication as to a person’s true worth. Sometimes the personality traits that are useful in amassing a fortune—like being an intimidating bully at times—aren’t always welcome outside the boardroom …
… Or in the voting booth!
This week’s JERK OF THE WEEK is …
DAVID SIEGEL
Some of you may already know of Siegel, who is the founder owner of Westgate Resorts, one of the largest time-share companies in the world. He—and his lovely wife Jacqueline—have also been in the news recently, mostly for being very rich people with very exorbitant taste.
But hey, liking shiny expensive toys does not make one a jerk. Threatening all your employees by sending them an email telling them if they don’t vote for Mitt Romney that they will all lose their jobs, however, is another story.
A story, best summed up by MSNBC.com, who posted a copy of the email:
“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.”
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.”
The points are ones that have often been made during this election. But what makes the letter surprising is the source.
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, “The High-Beta Rich.” It then made it to the big screen with the documentary film “The Queen of Versailles.”
They became symbols of outsized spending, debt and real estate in America.
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.
Now, I don’t begrudge the man his rightfully earned millions, and obviously, he should vote for whomever he thinks will best protect his interests—heck, I do the same!
I do take exception, however, when he uses the power of continued employment—and all the basic amenities of life that are derived from that—during tough economic times to bully others. To me, that’s just dirty pool—or in this case, three pools and numerous fountains, as the Siegels’ opulent mansion has.
He can justify it anyway he wants, but all the money in the world won’t change the fact that David Siegel is the JERK OF THE WEEK.
And as always, if you want to throw some money my way, you can do so at Amazon.com with a purchase of my book!