awesome... here's what Siegal said in July..
His company, Westgate Resorts, this year is also hiring 1,500 new employees, closing on $450 million in mortgage-backed securities in the first such transactions since 2007, and fending off banks that he says "are throwing money at us now."
"We're the most profitable we've ever been," Siegel told Reuters, projecting nearly $500 million in gross sales this year and expecting to be debt-free within two and a half years.
"I'll be the first to admit in 2008, we were fat," said Siegel who said gross revenue topped $1 billion that year. "We had departments that were maybe out of control. I was making so much money I didn't care. I didn't know what to do with the money. That's why I was building this big home."
Then came the crash, and Siegel cut payroll at Westgate from 12,000 people to 5,000, drastically reducing overhead costs. He said the company also became choosier about the potential buyers it qualifies.
As a result, Siegel said, the sales force now closes deals with 25 percent of the potential buyers it engages, compared with a typical time-share closing rate of 10 percent to 15 percent, increasing net profit on the deals.
"We got lean and mean. We're basically doing what the whole country should be doing. We're living within our means. The company today is more profitable than it was back in its heyday of 2008 in terms of actual profit. We're more profitable today than we have been in our history," Siegel said of his 30-year-old firm.
SOooooooooooo much money he didn't know what to do with it...as soon as he took a hit tho, he knew how to keep it.. he dumped 7000 employees..
SOoooooooooooooo much more money now, that if Obama's elected, he'll fire his employees for voting for him.
btw, this is the same guy who claims to be the reason GWB was elected, because as he says, he had his managers go around to all his employees and ask if they were (R) or (D).. if they were (R) he forced them to register to vote, if they were (D) he ignored them...
would love to know how many of the 7000 he fired were the (D)..
I guess we should really feel sorry for his poor wife who had to go from 15 housekeepers down to 1... but she did get 5 nannies to become housekeepers.... I bet the nannies loved that "Want to keep your job? Start scrubbing my toilet so I can fire the maid..
to help with 'chores'... wtf can't the kids to do 'chores'? what a fucking peach these people are,huh?..
