The prime example of bad cap management comes to bear it's first ugly turn:

Dustin Byfuglien, one of the breakout players for the Stanley Cup-winning Blackhawks last season, is in the process of being traded to the Thrashers, pending a trade call. Byfuglien, along with Brent Sopel, Ben Eager and Akim Aliu, will be headed to Atlanta in exchange for the 24th overall pick at the 2010 NHL Entry Draft, the 54th pick, Marty Reasoner and Jeremy Morin

From tsn (fully story)

Having to move 4 players, one of which was a very large part of the cup run has to sting.

At the same time, if this deal keeps Sharpe, Versteeg and some other major pieces around - maybe not so bad.

This can't be the only move though it trims about $4m off the books, which I don't think is enough for them.