Cutting off one part of a company (usually the income losing divisions) in order to save the whole entity or corporation. See Scripps or Belo. Referene to the climber Aron Ralston who, trapped by a boulder, was forced to cut off his own arm to survive.
E.W. Scripps Co. (NYSE: SSP) today announced its intention to ralston the company. The move separates the still-beating heart of Scripps, its cable-TV and internet shopping sites, from the dead meat, newspapers and local television.