Google Webmaster Central Blog has informed that the impact of numerous Googlebombs have been minimized by a new link analysis. Now there will be discussions, articles and commentary relating to Googlebombs. For all those who do not know what are Googlebombs, Google has described them as “Technically, a "Googlebomb" (sometimes called a "linkbomb" since they're not specific to Google) refers to a prank where people attempt to cause someone else's site to rank for an obscure or meaningless query. Googlebombs very rarely happen for common queries, because the lack of any relevant results for that phrase is part of why a Googlebomb can work. One of the earliest Googlebombs was for the phrase "talentless hack," for example.”
Google does not given too much importance to the pranks as they are for uncommon phrases. But in the past people have felt that they are opinions of the company which is not true. In order to clear the confusion a new algorithm by Google reduces the effect of many Googlebombs.