Ok i have to post this because it seems like everyone is talking about it. i saw it first on Jeremiah Owyang's blog which just happens to be one of the first i check every day- and many others referred back to Jeremiah as well (his google juice is probably officially sky-rocketed).
the Boston Globe put out an article about blogging being essential to a good career take a look for yourself and then read Jeremiah's comments and Tim Bray's from Sun.
A colleague also alerted me to Apple's court battle update(and another)- on Apple going after an ISP that hosted a blog that supposely leaked information. Seems that the contention is that bloggers should have the same rights as journalists to not reveal their sources....at least if you get fired from your job due to your blogging you can possible have enough juice for it to not matter.