Links between own websites worthless?

Google knows I own both sites. Will linking them be worthless?

[suggy]

Have had a froogle account for ages. Just ventured off into webmaster tools and was shocked to see two of my sites listed (albeit it unverified).

The first is obvious - I upload the froogle file for it weekly and the domain is same as my google account email.

Is the 2nd gleaned from whois / that infamous domain registry data?

Although these sites are not heavily cross-linked, it did lead me to wonder how google would treat links between the two. After all, I am both nominator and nominee in the pagerank formula. It's a big fat vote for oneself and self praise is no praise at all, as my mum says!

So, will pagerank flow?

Is a link worthless or will it be depreciated heavily?

Are one or two links OK?

Will too many trip a penalty or make each and every one worthless?

Any ideas folks?

Suggy

[skweb]

We have over a dozen websites all linked whenever there is a relevant article. For instance, if we mention Paris on a business website, we link to our travel website page on Paris. No problem ever and plenty of traffic.

What you don't want to do is to generate a gazillion pages overnight with the same anchor text to manipulate the search engine ranking.

[suggy]

I was intending to use legitimately. For example, we just started a blogger blog for the business at a different domain. This was partly due to security concerns (we're pretty obsessive on our commerce server).

Also we are publishing other content there too to try to broaden the appeal. So, it's the official blog and more. From time to time the blog will link back to offers and changes at the store, etc.

Do you believe the links have had a positive effect? Has PR been seen to flow? Have the links 'counted' in google's link analysis for things like anchor text?

Thanks for your advice. I am beginning to wonder whether to move the blog. I don't want all that link juice flowing in not flowing onwards!