the parking lot, or section of parking lot, that is farthest away from the driver's place of employment or other (for example: shopping) destination
the loser lot is where you park when all the good, aka close, spots have been taken
Employee: The worst part about being late for work was parking in the loser lot. I had to walk, like, a mile from my car to get to the building.
Shopper: Damn, this mall is crowded; No wonder we had to park in the loser lot!
A Shackteau is a humble, weather-beaten, structurally questionable shelter located in a spectacular or highly coveted place—Wales, Jackson Hole, Sun Valley, Crested Butte, coastal Maine, the Alps—where the building itself may be worth almost nothing, but the dirt, view, access, and mythology make it absurdly valuable.
In use:
Shackteâu - We thought it was an abandoned shed until the realtor called it a rare alpine Shackteâu with unobstructed views and listed it for $2 million.