has-been

A person, especially one who was formerly popular or influential, who continues in their field after their popularity or effectiveness has peaked and is now in decline.

When the aforesaid alderman or another wishes to express mild contemptuosity for his fellows and himself in future I would suggest “old fossils” or “old has beens,” or “old fogies,” then the Sir Galahads that are always riding—or driving—about in this progressive dorp will not have any cause to complain.

I think Apple Computer is a has-been.

Of or pertaining to someone or something that was once popular, successful or important but is no longer considered so.