Janus Capital ( JNS): Janus Capital remains on my list. Janus continues to see an erosion of its business as investors pull money from its funds. Earnings for the company are expected to decline by 15% in 2011 and 19% in 2012. The stock price has declined 31% in the past year. Here is a tip for the money managers at Janus: Short your own stock.

Janus also appears on lists of 7 Dividend Stocks to Consider and and the 10 Worst-Perfoming S&P 500 Stocks of the Year.

Sharper Image: Bankrupt.

Pier One ( PIR): I removed Pier One from the list in 2010. That stock has jumped over 43% in the year since its reprieve.

Class of 2007

Palm: Palm is now part of Hewlett-Packard ( HPQ). I'll say more on the acquirer later on.

Circuit City: Bankrupt.

Charter Communications ( CHTR): Charter filed for Bankruptcy in March 2009 and emerged from bankruptcy in November 2009. It's now back in operation as a public company, but since it is not the old Charter Communications, it's longer on this list. It's also one of the top holdings of George Soros.

Six Flags ( SIX): Six Flags filed for bankruptcy in June 2009 and emerged from bankruptcy in April 2010 and is now bank in operation as a public company. Again, it's not the old Six Flags, so it's no longer on the list.

Washington Mutual: WaMu was declared insolvent and seized by the FDIC in 2008. Washington Mutual is now a part of JPMorgan ( JPM), which is one of the world's premier financial institutions under the stewardship of Jamie Dimon.

Class of 2008

Macy's ( M): Macy's was removed from the list in 2010. That stock has jumped about 35% in the year since it was given a reprieve from this list. Macy's is one of the top holdings of David Tepper's Appaloosa Management and was one of the Top Stocks With the Most Hedge-Fund Action in the most recently reported period.

General Motors ( GM): GM filed for Bankruptcy in June 2009, and a new entity was formed with the backing of the U.S. Treasury. It's now back in operation as a public company as a result of its IPO in November of 2010. Since it is not the old General Motors, it is longer on this list. GM shows up on a recent list of 6 Auto Stocks That Could Accelerate.

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