(v.) The act of getting hoodwinked, completely screwed, or royally f**cked by an organization and/or person much like Coach Phil Jackson of the Los Angeles Lakers during the 2012/13 NBA basketball season.
Bill: I was up for that new promotion but was totally Jacksoned by the company for Larry.
Steve: Sorry to hear that Bill, you were the right man for the job!
Generally used when something is f*cked up beyond repair or to explain how something got f*cked up beyond repair.
I would take you there but I jacksoned my car last week.
My boss jacksoned my plans to take off early.