It's a case of: "Well, the operation was a success, even if the patient died." A turnaround isn't a success until the company is in the black. If the new CEO

It's a case of: "Well, the operation was a success, even if the patient died." A turnaround isn't a success until the company is in the black. If the new CEO just ends up producing a smaller crater (no such thing as a "soft landing" in bankruptcy court), he still failed.