Does Google fear Yahoo's Panama?

Yahoo vs. Google in 2007.

A confident Terry Semel addressed Wall Street last week (see "Yahoo: Executing for shareholder value"), announcing Yahoo will formally launch its “Project Panama” enhanced search monetization platform in the coming days:

This means as of February 5th, all U.S. Yahoo search marketing ads will be ranked by quality in addition to keyword bid price. Ads with a higher quality should receive better placement on the results pages. We believe this will deliver more relevant text ads to users, which in turn should create greater volume of high quality leads to advertisers. Accordingly, this should encourage even more participation in the network, creating a more valuable marketplace for users, advertisers and publishers, unlocking the full potential of Yahoo’s search marketing network.

Sound familiar? In “Yahoo vs. Google: Why Panama is the wrong destination” I discuss how Yahoo is trying to out-Google Google with a Google-like advertising system.

IS GOOGLE WORRIED? SHOULD IT BE?
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