Found this at DetNews.com

SAN FRANCISCO -- Google Inc. is preparing to back up its "don't be evil" credo with a charitable foundation.

The Mountain View-based search engine company plans to fund the foundation later this year with 1 percent of its stock - a commitment that translates to about 2.7 million shares worth more than $500 million as of Wednesday. Google also intends to donate 1 percent of profits and divert staff to the foundation.

The company's philanthropic efforts to date have been focused on "Google Grants," a program that deploys the Internet's leading search engine to distribute free text-based advertising links for about 300 charities.

Google hasn't set a timetable for launching the foundation, but expects to have all the pieces in place later this year, spokesman David Krane said. The company is searching for an executive director for the foundation.

Corporate foundations are common and the financing mechanism for Google's foundation isn't unique. Online software pioneer Salesforce.com Inc., for instance, already has a foundation that it created by donating 1 percent of its stock. San Francisco-based Salesforce.com also gives all employees six days of pay each year to perform community service.

That makes me like Google even more. Just give it a few days and Microsoft will be donating 2% of its stock in competition!

I like google to, but there are a few problems with their search results. Im sure theyll fix it soon. Im loving overture right now, im getting serious action from my PPC.

Google need to do something about their image search.

Its terrible at the moment

I have a lot of respect for their user-based ideals (ie--the "democratic" system of PageRank), and their idea of simplicity on their website. However, recently both MSN and Yahoo have been ranking me much higher than Google due to all of the Google spammers out there. If this trend continues, I may be changing my homepage soon...