Come up with a trade that allows you to dump your lemons on someone else for expiring contracts and picks.
With the news that Orlando's Jameer Nelson will be out for several weeks having hit the web hours ago, I'm a bit surprised that this is the first reactionary Magic trade proposed. Nevertheless:
Add to this Orlando's first-round pick (heck, even their 2010 first rounder if it's a sticking point).
Orlando perspective: They secure a young, quality backup PG to Nelson. He may be overpaid, but Nelson is (and will continue to be) underpaid, so it evens out. They get a guy (Mikki) who can approximate what Battie does, but who can be bought out relatively cheaply in the offseason. They clear about $5.75M from next year's payroll, which they can use to keep Hedo without cracking the luxury tax.
Sacramento perspective: We net -$23.5M worth of Beno's contract and pick up another first rounder without significantly limiting our salary cap options in the short term (Only difference is paying Redick $3M in 09-10, assuming we would've bought out Mikki). Sadly, Brian Cook and Redick would probably command minutes on this team. The PG situation gets less stable and we get more ping-pong balls.