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AUCTION-RATE SECURITIES are debts that mature 10, 15 or 20 years in the future, but which change hands frequently -- as often as every seven, 28 or 35 days. The interest rates on the securities change with each auction. Lately, bidders have been scarce or nonexistent for some of these auctions, drastically deflating the value of the securities.
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Lights out at U energy conference. Irony police notified.
Just as Lawrence Kazmerski, a top official at the National Renewable Energy Laboratory, was about to give the keynote address at the University of Minnesota's annual E3 conference at the RiverCentre in St. Paul, the lights went out, bathing the audience in darkness and a deep sense of irony.
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