The retention bonuses were issued last November (for payment this November) just as nsm was laying off 8% of it's staff (same week I beleive). three months later they laid off another 26%. When they issued the retention bonuses, every company was laying off.

Even if nsm management had been competent they couldn't have got a job elsewhere since there were none! As it is their performance is very very poor compared to their peers at txn, adi, ltc, mxim. and they gift themselves huge bonuses to continue the "good work" while their industry peer groups take pay cuts.

Look at the charts TXN and ADI have risen about 40% in the last year. NSM has risen 20%.

As you say a billion dollars in debt and leaving their traditional strengths for "solar" and other wishful thinking (if you can accuse nsm management of thinking).

Halla's resignation date looks crafted to just allow him to collect his $3Million retention bonus before kicking back.