walkman - 1:18 am on May 24, 2011 (gmt 0)
Those selling the proverbial shovels will make all the money, along with greedy ICANN. Top names, like hotels.nyc will be sold at such a premium that you have to wonder if it's worth it.
What does this have to do with google? You mean confusion in SERPS, too many exact match domains or what? You can already rank .cctlds and you even get credit for the extension right now. These will be probably be treated as global names, if google even cares to distinguish now.
Sucks that .twoletters are off limits, US states could use them.