  The short period variable star MG1-688432 has been discovered to exhibit
occasional extremely high energy optical outbursts as high as 10^31 joules.
Outbursts are typically of several hours duration. These events are often
highly structured, resembling sequential associated releases of energy. Twenty
years of time sequence photometry is presented, indicating a basic sinusoidal
light curve of mean period 6.65d, with some phase shifting and long-term
temporal trends in amplitude and mean brightness. Spectroscopy reveals a
peculiar star, best resembling a K3 subgiant that has evolved off the main
sequence moderately red-ward of the giant branch. Spectroscopic and radial
velocity analyses indicate a binary system orbiting its barycenter with an
unseen companion to the K3IV primary. This is not an eclipsing system with the
inclination of the orbit precluding eclipse by the secondary. The system is at
a distance of 1.5kpc and analysis of GAIA observations leads to the conclusion
that the HR diagram position of MG1-688432 is established by an intrinsic
feature of the system, most likely either the stellar evolutionary state of the
observed star or the presence of small (non-gray) dust within the system. Two
mechanisms that might give rise to the system are 1) impacts with tidally
disrupted planetary debris, and 2) magnetically induced chromospheric activity.
An intriguing idea that requires further investigation suggests that the unseen
companion is perhaps a white dwarf star which has encountered a planet and
tidally shredded it to produce a debris and dust veil that modulates the
brightness of the primary.
