In a long standing court battle between the media and the Fed, a decision to release bail out documents was handed down by the US Court of Appeals.

Last year, two reporters from Bloomberg News filed for disclosure of the documents under the Freedom of Information Act. Later a similar suit was filed by Fox News. The Fed countered that such information would cause "competitive and reputational harm" perhaps triggering bank runs and implode the central bank's ability to effectively manage the current and any future financial crisis.

During the 2003 -- 06 boom years, three agencies, The Federal Deposit Insurance Corp., the Office of Thrift Supervision, and the Office of the Comptroller of the Currency gave out millions of dollars in bonuses to regulators of these agencies.

The bonuses were supposedly given out for "superior" performance. Records show that at least $19 million in bonuses was awarded.

The past couple years have been brutal for some retail chains because of disruptive changes in technology. For example, this week Blockbuster (BBI) said it may file for bankruptcy. With huge debts and lagging sales, the company continues to lose marketshare to online alternatives like Netflix (NFLX).

There's also the case with H&R Block (HRB). The company is feeling the pressure against rivals like Intuit's (INTU) TurboTax, which continues to grow its online business.

Can you imagine this? You work for a company, AIG, and are responsible for billions of dollars of losing derivatives trades that ends up in a $180 billion government bail out and now you are getting $46 million dollars in pay and bonuses, even if you have left the company.

It was American International Group's (AIG) division AIGFP that was responsible for the bad trades. It is the former and current employees who worked in AIGFP who are receiving the $46 million.

This $46 million is taxpayer money, coming out the government bail out of AIG.

Insurance companies are seeing more promise lately and one that showed up on my value screen was Willis Group Holdings (WSH) -- headquartered in London but listed on the NYSE. For starters, it is paying a higher than average yield of 3.31%; has a low PEG ratio of 0.99; and has a high ROE of 21.76.

This company often deals in very high risk propositions. You, however, will not be taking one because Willis, as a leading global insurance broker, not underwriter, specializes in reducing risk for entities in such fields as aerospace, construction, energy, health care, marine, mergers and acquisitions, and niche areas like fine art, jewelry, armored cars, racehorse breeding, and sabotage.

How's this for a kick in the pants: Flying in the face of it's first quarterly loss in 16 years, a seriously questionable compensation package has just been awarded to the new, short-time CEO of Harley-Davidson Inc. (HOG).

Keith E. Wandell, the new Harley-Davidson CEO, and former COO of Johnson Controls Inc. (JCI), has been awarded a compensation package totaling approximately $6.4 million for his participation in Harley-Davidson operations from May 2009 through the end of that year. When given the company's downward slide through 2009, and in consideration of tough times ahead for those who survive on high-end discretionary spending, might there be cause to wonder if Mr. Wandell's compensation package is just a tad excessive?

On Wednesday afternoon, interim CEO Robert Druskin confessed that E*Trade Financial (ETFC) is headed back to the drawing board in its search for a permanent new leader. At an investor conference, Druskin explained that the online broker's preferred candidate for the position was no longer in the running. (He didn't identify the erstwhile candidate, but we can safely assume it was not Lindsay Lohan.)

Druskin's announcement yesterday confirmed a recent report in The Wall Street Journal's Deal Blog. In a post published March 2, a trio of reporters explained that "E*Trade directors were concerned that the [top candidate] might become distracted by a pending divorce, according to people with knowledge of the discussions."

As class action lawsuits go, I have never encountered one any more questionable than the recent complaint issued against Medivation Inc. (MDVN), via the law firm Izard Nobel LLP.

Readers of this space may recall that just a few days ago I decried the sell off of shares that occurred on the heels of Medivation's ill-fated phase 3 drug trial of the potential Alzheimer's treatment dimebon. At that time, I pointed out that one failed drug trial is not equal to the failure of a company. I still stand by that common sense determination.

We've read a good deal about the Greek financial crisis. Prime Minister, Papandreou, has imposed tax increases and spending cuts aimed at cutting the Greek deficit. Greece is most indebted nation in the EU.

Last week the Greek government floated a 10 year bond offering with rates rising to 6.3%, twice as much as the German government pays to borrow money.

According to a recent nationwide survey conducted by Pew Research Center for the People & the Press, the glory days of America's labor unions are fading. At least they're fading in the eyes of the general populace.

Speculation varies widely about the reasons for the tarnishing of organized labor's luster. However, the decline of union favor is quite real. The approval of labor unions has decreased across a very wide demographic cross section of America, including in union-oriented households.

Yes it can. Berkshire Hathaway Inc. (BRK.B) can outperform Apple Inc. (AAPL) in 2010. That was my thesis in December (see Buffett's Berkshire vs Jobs' Apple for 2010?) and I still believe all the Apple hype in the world will still succumb to a solid value proposition in the long run.

While Apple was reaching new all time highs Berkshire was treading water through 2009. However, after a monster run-up Apple is taking a breather.

For a long time, Erin Callan was considered one of the most powerful women on Wall Street.

Somehow, a controversial stint as CFO of Lehman Bros. shortly before its collapse hasn't helped that status. After being pushed out of Lehman, she joined Credit Suisse, but in February of 2009, five months after joining, she went on a leave of absence for unspecifiied personal reasons.

Sarah Weinman reported recently that the board of directors at Barnes & Noble (BKS) has denied Ron Burkle, the company's single largest shareholder, the opportunity to acquire more stock without triggering the poison pill the company enacted hastily back in November.

In a letter to Mr. Burkle filed with the SEC, the company notes that the poison pill is "intended to protect our shareholders from actions that are inconsistent with their best interests. The Board has determined by unanimous vote that acceding to your request would not be in the best interests of all Barnes & Noble's shareholders."

New York State comptroller Thomas DiNapoli has issued the numbers for Wall Street bonuses in 2009. The total was $20.3 billion, up 17% from the previous year.

Wall Street profits totaled an unprecedented $55 billion in 2009. The average bonus was $123,850 dollars.

General Motors has hired former CEO Fritz Henderson to serve as an adviser to the company. He'll be paid $59,090 per month, or $709,080 annualized. Is there anywhere, other than perhaps The Surreal Life: Recession Edition, where Henderson could earn that much money?

In exchange for his $59,090, Mr. Henderson will work about 20 hours per month, according to the SEC filing announcing the hiring: $2,954.50 per hour.

"This is an agreement to provide consulting to the company on international operations, an area where Fritz has unrivaled expertise," GM spokesman Chris Preuss told Bloomberg.