tedster - 4:20 am on Jul 10, 2011 (gmt 0)
You mean you have no doubt - but there is certainly doubt in my mind. Big doubt, because this would be a radical shift from the way Google has always operated.
Are the Panda SERPs now showing more Adwords? Since the big money keywords are already jammed with Adwords ads, where would the targeted "new ads" be appearing? The center of this idea still does not hold for me.
Google will sacrifice short term financial gain to have a solid business long term. Their board has long been on notice about that, as has the financial world. They do not operate the way most other businesses do. In fact, Panda absolutely hurt Adsense income - I have no doubt at all about that.