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Naturally then the company needs to dump all the profitable stuff and focus on what they're bad at.
Seriously why do companies do that?
We a company is in trouble it needs to cut costs and sell assets. You can sell off your crap, but nobody wants to pay much money for crap, so you'd go under anyway. The only thing that's going to make enough money to keep you afloat, is to sell your "seed corn". So you sell your most valuable assets, keep the crap and hope that someone left can spin that crap into gold.
Yes, 99 times out of 100, you are going under anyway, but if every other way has 100% chance of failure, it's time to throw the Hail Mary pass and hope for the best.