Calgary Herald from Calgary, Alberta, Canada • 21

Section Market Closings U.S. corporate profits beat forecasts PageC13 Cdn. Dollar: 71.23 us TSE: 6736.31 137.07 Oil Price: 20.48 uswtd SLNESS MARKETS 1W Tm Calgary A Some major Calgary companies trading on the TSE Agra $965 Agrium $15.55 Alberta Energy $32.50 Anderson Exploration $15.25 .15 ATCO $31.25 Cdn Airlines $4.60 .30 Cdn Nat. Resources $40.00 2.50 Cdn Pacific $4L25 Cdn Utilities $39.50 .50 Crestar $24.75 Ensign $50.00 5.00 Gulf Canada $11.45 .20 IPL Energy $53.65 .90 NOVA $1140 Petro-Canada $26.60 .80 Precision Drilling $43.50 2.75 Renaissance Energy $32.50 .25 Shaw Comm. $14.00 1.00 Shell Canada $27.50 .75 Suncor $47.60 .30 Talisman $47.50 TCPL $25.90 TELUS $27.90 1.20 TransAlta $18.70 .20 Trimac $10.50 "ft ABOUT TOWN Lights, camera, action Reuters Two traders on the floor of the New York Stock Exchange smile Tuesday as they watch monitors mid-day as the Dow rebounds from Monday's heavy losses.

Stalwart investors shrug off slide If I bumped into a location crew outside Penny Lane Mall last week scouting for Honey 1 Shrank The Kids, the TV series being shot in Calgary. Great news for our film community, and for city businesses, is that it New York Stock Exchange rebounds in frantic pace David Parker ABOUT TOWN Also See Rising U.S. markets snap global slide. C6 October woes haunt markets. C6 packed visitors' box watched Dow numbers drop each minute on the scoreboards that surround the main trading floor.

"I'm smiling because I still have a job," said Michael DEBORAH YEDLIN Calgary Herald Stalwart investors resumed their posts Tuesday at the three computer terminals on the second floor of the Alberta Stock Exchange Tower, studying the data as the markets recovered much of the ground they lost the previous day. Despite continued weakness on the Hong Kong market, which sold off a further 13.7 per cent overnight, North American markets rebounded on Tuesday from Monday's meltdown. The Toronto Stock Exchange 300 composite index rose 137 points on volume of 169.8 million snares, while the Dow Jones industrial average shot up 334 points on a record 1.2 billion shares traded. The TSE recorded the highest number of transactions in its history, resulting in a record $3.48 billion of stocks traded. The ASE did not recover as much, closing up 4.27 points at 2,381.91.

The crowd of about 15 people jostled for position in front of the ASE's terminals, punching up stock symbols and closely watching their portfolios. Many were skeptical about the rebound, others said they hadn't been hit too hard. "I am mostly in the junior mining stocks so it hasn't really hurt me," said an older man who identified himself only as Peter. "The mining stocks got hit fairly hard after the the Bre-X fiasco and they really haven't recovered." See INVESTORS, Page C3 even more convinced on Tuesday that they did. "The people you have to worry about most are the public," Rosenblatt said.

"The breaks gave the public time to reflect." Investors snapped up shares of big-name companies such as IBM, Boeing and General Electric in a search for bargains. Just a day earlier, stocks were hammered on worries about the effects of Asia's market turmoil on America's big multinational companies. Relief spread to the tourists who had gathered outside. "We have some stocks in Germany," said visiting German honey-mooner Harold Schlicht, who, with his wife Nicola, made Wall Street a stop on their tour. "If bad things happen here, they happen to us too." Others were undoubtedly disappointed.

Mark Frank had visited the exchange before but hoped to see more action on his way in Tuesday morning. "Today I expect to see maybe screaming," he said. Relief about Tuesday's sharp gains spread from Wall Street to the West Coast. In Portland, Rotary Club treasurer Marilyn Zook was rewarded for her calm in holding on to $225,000 in stocks that lost nine per cent of their value Monday. "My advice to the investment committee was just to hang tough and ride it out," she said.

JOHN HENDREN The Associated Press NEW YORK Trader Richard Rosenblatt fought his way at a jogger's pace through a maze of trading kiosks and he was buying. It was shortly after 10 a.m. Tuesday. In its hour of decision, 68 years to the day of the Crash of 1929, Wall Street went the other way. Monday's sellers became Tuesday's buyers.

During record high volume, competition among the buyers crowding one kiosk grew so fevered that one trading supervisor threw up both hands and yelled: "Now everybody just calm down!" Unlike the 1929 crash and the Black Monday plunge of October 1987, Monday's 554-point fall in the Dow Jones industrial average was orderly and showed few signs of panic. The pace picked up Tuesday, said Rosenblatt, as he bought shares by the hundreds. "If anything, today was a little bit more dramatic, because yesterday there was no question about where the market was going it was going down," Rosenblatt said Tuesday. The tension mounted immediately after the 9:30 a.m. belL Outside, onlookers watched the New York Stock Exchange building as if it might move.

Inside, gallows humor prevailed as traders and a Galluchi, a trader for LaBranche Co. By 10:10, the Dow had dropped 180 points. It looked like stock exchange officials might have to halt trading due to a plunging Dow for the second historic day. Then, as quickly as the numbers dropped, they climbed back. What sounded like a din at a New York Yankees game rose to a roar, prompting cheers as the Dow moved into positive territory.

Later, a chant of "Go, Go, Go" erupted as volume neared a record one billion shares. There were cheers as the milestone was reached with about an hour left in the trading day. As the closing bell rang, traders cheered and tossed trading tickets into the air to celebrate a 337.17-point gain in the Dow the largest single-day point gain ever. Wall Street had snapped back from the Hong Kong Flu. Investors still disagreed over whether the mandatory curbs that halted trading Monday designed to stop panic selling helped the blue-chip average rebound from its record 554-point drop.

But optimists were has been picked up by and extended from 13 episodes to 22. It means more than 150 Alberta film crew members will keep their jobs until March and many local businesses will reap the benefits of providing goods and services to the movie moguls. Another rumor on the street is that an episode of Due South, starring Al-bertan Paul Gross who is also an executive producer on that series, will be shot in Canmore. A big win over competing Whistler. With colder weather predicted, I expert that Clark Hogan is thinking it's time he checked out the company's latest construction project.

Descon Resorts of Calgary is building 52 condo units 45 minutes' drive south of Guadalajara, Mexico. Using Canadian technology, they are being built with recycled steel and concrete blocks, using supervised local labor. There are only 25 left and 95 per cent of the buyers are from around these parts. Could be something to do with the climate around Lake Chapala, all-year-round spring at 75 degrees. Nice enough that the president of Descon, Adnar Bakir, who has been building homes in Calgary for the last 20 years, is practically a permanent resident.

I noticed a very attractive building going up along nth Avenue S.W. on what was a parking lot between Heavens Fitness and the Paul Kuhn Gallery. The dream of the mother and daughter team of Helen and Tamar Zenith, it will be the new home of their New-zones Gallery of Contemporary Art Newzones has been located at the east end of the old Dominion Bridge steel fabricating plant since 1992. That they have been so successful in that space is testament to their marketing ability and choice of artists they have shown. Three public gallery spaces, viewing room, sculpture court and offices are designed into the free-standing building, which is scheduled for a grand opening on Nov.

20. Good luck. I tracked down another of the keen-ers who worked so hard on the World's Fair bid. Patty Richards, who used her exceptional skills in the communications department of Expo 2005, has joined the public affairs group of Shell Canada. (Around Town appears Wednesdays and Fridays.

David Parker can be reached at 830-4622.) ENTREPRENEURS -y m-ri Pelorus navigating for success technology for MltrcnrCnCUrS Precision landing of aircraft. The U.S. Federal Aviation Administration in August approved the first ground station in the world using this This is the eighth in a 10-part series of profiles of up and coming Calgary entrepreneurs. Ross Bowie of NavCanada agrees that the technology has great potential. "The precision approach that Pelorus is focusing on using vertical as well as lateral guidance for landing aircraft.

Historically, these precision approaches have a greater safety record than non-precision approaches." Bowie states that the other advantage of this system is its cost. "It is much less expensive. For example, an airport with six runways would require six separate systems using the existing ground-based technology. But with precision technology, it only requires one. This affordability will make the service available to more airports." See ENTRETRENEURS, Page C4 DELILAH PANIO For the Herald You may have heard of Pelorus Navigation Systems its chief executive officer Ed Fitzhenry and his success.

So you may wonder why he is included in this series of Herald profiles of up and coming Calgary entrepreneurs. The answer is that like many others, he is on the edge of a multimillion-dollar breakthrough. Forty-three per cent of all aviation accidents occur on the landing. Precision landing can reduce this number. Fitzhenry wants to be the one to do it.

With an alliance with Honeywell Fitzhenry's company is the first in the world to be certified to use satellite satellite technology. It was a monumental event for Felorus and the aviation industry, as it opens the door for the new technology to be used for passenger flights. David Hinson of the FAA has stated that the HoneywellPelorus Satellite Landing System "is the single most important advance in air navigation since we started flying airplanes." Ed Fitzhenry's Pelorus Navigation Systems is a world leader 1.