This is a problem in general with "creative destruction" vs. "too big to fail": we generally want unsound businesses of 50 employees to fail, but at 50k employe

This is a problem in general with "creative destruction" vs. "too big to fail": we generally want unsound businesses of 50 employees to fail, but at 50k employees, it's such a blow to the local (or national/global) economy that politicians and citizens are incentivized to prop them up artificially. (Allegedly, one reason Obama didn't take on private insurance directly is the potentially huge unemployment problem.) Anyway, I can imagine a scenario for "corporate death penalty" similar to Chapter 11, where the company keeps its doors open, while restructuring and perhaps selling shares at public auction.