JUMP THE SHARK:
Keith Olbermann actually explained this term in one of his columns:
http://www.jewishworldreview.com/0604/olbermann061804.asp
Sorry, I wasn't able to cut and paste. Apparently Fonzie, on Happy Days, water skiied over some sharks. This story line was apparently used out of desperation as the series began to lose viewers.
As another poster mentioned, there's also a "Jump the Shark" website that names similar instances of when something begins to lose its popularity.
I never listen to Olbermann. No cable, lucky me. Thanks.
In 1983, after a decade of Nielsen invincibility on Tuesday nights, ABC's one-two punch of Happy Days (starring former Andy Griffith child star and future Oscar-winning director Ron Howard) and Laverne & Shirley (debuted 1976) was surprisingly whipped in the ratings by NBC's hour-long action series The A-Team (starring George Peppard and former bouncer Mr. T).
To bring viewers back, the producers of Happy Days apparently decided to recycle one of their highest-rated episodes ever -- the one in which Fonzie attempted to over jump thirteen garbage cans with his motorcycle in Arnold's parking lot. This time, he was water-skiing over an oncoming shark. The stunt for ratings failed, and
The term "jumped the shark" has entered the American lexicon thanks to the internet. What's ironic is that Keith Olbermann would comment on "jumping the shark." After thinking himself too good for ESPN and leaving, Olbermann didn't even make it over the shark.
In fact, the shark is still chewing on Olbermann's lower torso. The shark will have a harder time trying to swallow his swelled head.