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Bobcat Welcomes Bailout Package

President of Bobcat says he welcomes the financial bailout package passed by Congress, saying he believes it will help restore confidence in the marketplace.

WEST FARGO, N.D. (AP) -- The president of North Dakota-based Bobcat Co., says he welcomes the financial bailout package passed by Congress earlier this month.

Rich Goldsbury says he believes it will help restore confidence in the marketplace.

Bobcat, a construction equipment maker known for its skid-steer loaders, employs about 4,000 people worldwide, with about 1,300 dealers in 90 countries. It was purchased by South Korea's Doosan Infracore Co. last year.

Goldsbury says the world market turmoil will mean more research to make sure the company is developing products customers want, and it will take support from employees. But he believes Bobcat can weather the economic storm.

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