Jeff Wilpon: Fred's 'zimmo' is 'sniglet'

PORT ST. LUCIE, Fla. -- Fred Wilpon said "real estate has gone zimmo" on Wednesday while describing the family's investments, prompting The New York Times to unsuccessfully contact language experts to try to find the meaning of the unfamiliar word.

Jeff Wilpon, on behalf of his father, explained the definition Friday to ESPNNewYork.com, saying it was a "sniglet."

So what's a sniglet?

Wikipedia offers this definition:

Sniglet is a neologism, popularized by comedian/actor Rich Hall during his tenure on the 1980s HBO comedy series Not Necessarily the News. Each episode of the monthly series featured a regular segment on sniglets, which Hall described as "any word that doesn't appear in the dictionary, but should." Hall's own sniglets, along with submissions by fans, were compiled into several books, starting with Sniglets and More Sniglets.