S Corporation Countermeasures

In a prior article, The Perils of Electing S Corporation Status, I detailed the disadvantages of an S corporation relative to a limited liability company that is classified as a partnership for U.S. federal income tax purposes (LLC), challenged two common tax justifications for using S corporations, and concluded that an S corporation is rarely a wise choice of legal entity for an operating business. But what about an operating business that has already elected to be treated as an S corporation and now recognizes that the disadvantages outweigh the advantages (if any)? Is there any escape from the perils of S corporation status?