This perspective is interesting.
Public weblogs have very low accountability, and they return no information or insight back to the author about their audience. Authentic customer communication is hard to come by and the fact that weblogs do not gather information about the viewer means that weblogs are just another publishing vehicle that is no more valuable than the website maintained today.
I don't think business blogging is ever going to be as big as most people think it will be, but the comment above is just ridiculous. Blogs do gather information about viewers. First of all, there is some self-selection going on with the readers, so you end up with people who enjoy what you are writing about. Secondly, information is given via comments and emails. That's the whole point. I don't want to visit a corporate site and read some press releases and fill out a stupid feedback form. I want to read about what is really going on and leave a comment about what I think.
Companies don't blog because of control issues. Despite decades of research showing that traditional command and control corporate hierarchies need to roll over and die, they persist. Companies only want certain people to speak about what is going on, so that they can frame it in a certain way.
Business communication is like communicating in a marriage. You learn to be open and honest and real with your spouse, even if it hurts, because otherwise the marriage will die. Ultimately, the truth helps you grow and become a better person, and your relationship is stronger. Businesses think the truth may kill them. But if they are honest and open with customers, they will become better businesses.
Some customers really do care about companies, and some companies really do care about customers. Those relationships shouldn't die so that one side can maintain a facade of infallibility.