I'd be happy to discuss over a beer. I don't believe there are any hard and fast rules in life, and I've tried to help people more than once in my career (currently I do it in a non-management capacity which is arguably harder). But I think we can agree some situations aren't going to be saved. Good management is knowing how hard to try and when to stop.
Always happy to discuss things over a beer. (Well, I'll have white wine, if you don't mind ;)
And yes, not every situation is salvageable. Alas. Knowing when to stop is why I'm in favor of having a defined process well before you come to the "change, or else" part. That prevents the sad effect that your bar shifts as you collect reports, just because you've got more things to do.