Jitney

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Jitney

1. An illegal act in which two or more investors buy and sell the same security at pre-arranged, agreed-upon prices. This directly results in neither profit nor loss for the investor, but creates the impression that the security is undergoing heavy trading, which could drive up the price or generate unwarranted interest.

2. A situation in which a broker who is a floor member conducts a transaction on behalf of a broker who is not.
References in periodicals archive ?
So when immigrants try to bring in a van and run an unlicensed "gypsy" cab service in New York or a jitney or bombila elsewhere, the police crack down.
After seeing the Goodman Theatre's production of Jitney, which ran in the summer of 1999, I wanted to know more about Wilson's playwriting methods and how he came to revise a play that he originally wrote twenty years earlier.
In light of KMR's analysis, a property rights framework that encourages jitneys but also gives some exclusivity to the bus anchor is called for.
Jitneys charging a nickel per ride picked up waiting passengers along the routes of the electric streetcars.
Jitneys are Atlantic City's most convenient and affordable mode of transportation.
Under current law, the city prohibits jitneys - station wagons or vans that pick up and drop off passengers throughout the day on a more or less fixed route.
In many places in America, it is politically incorrect to build a church in a residential neighborhood, to own a pistol, to have oral sex in your own bedroom, to carry paying passengers in an unlicensed jitney, to braid hair for money, to cut down a tree in your own backyard.
They cross the newly narrowed boulevard between slow-moving cars and the new jitneys that serve the area.
The subway is dead but light rail remains a possibility, high-speed busways are possible, express buses, more buses, smart shuttles, hot lanes, jitneys - a diverse transit system that serves real needs will be the outgrowth of this effort.
The plan, presented by Southern California Association of Governments Executive Director Mark Pisano, involves using an $800 million system of shuttles and privately run jitneys to carry riders to buses, which he said would largely finance itself.
During late evening hours, when demand is low, the express or local buses may be replaced by minivans or even smaller, on-demand jitneys.
By way of example, these could include modern express vehicles on dedicated busways, jitneys, so-called smart vans and smart lanes and even some limited rail, if rail should prove economical and practicable.