The first is the fact that city planners would place a bus-stop nearly half a mile from a crosswalk and not expect people to jaywalk to get to the other side of the street where their homes were located.

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Jaywalk was formed in 1999 to provide research links to Bank of New York's institutional clients.

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It bought Jaywalk in 2002, and McMahon, now 34, moved to New York.

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Some of the independent consultants said the aggregator model, which is what Jaywalk provides, is more cost-effective and allows them to switch research providers more often and more easily.

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