Published: Nov 08, 2012 10:26 AM EST

ORLANDO, Fla. (AP) - An Orlando time-share mogul who told employees they faced possible layoffs if Barack Obama was re-elected has reassured them that massive layoffs aren't on the horizon.
The Orlando Sentinel ( ) reports David Siegel told employees in an email sent Wednesday that he never intended to cut their jobs if Obama won. He says his comments made in October were taken out of context by the media.
In the email, Siegel said he meant that if the administration keeps increasing the cost of doing business, he would cut back on "the size and growth of the company."
Siegel owns the Orlando-based Westgate Resorts.
Siegel and his wife Jacqueline were in a satirical documentary called "The Queen of Versailles" which follows their efforts to build a mansion on Lake Butler.
Information from: Orlando (Fla.) Sentinel,

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