gotmilk - Perhaps it's time for a little reflection.
What? Are you pissed off that your logo didn't get selected or something? Based on your comments, I can tell that you have a ...what did you call it... "high school level" grasp of building identity systems for corporations, and the elements contributing to a logo.
For your information, one of the final three logos that Matt's group selected was designed by someone with over 10 years of experience in the field of branding and corporate identity, has worked for international award winning advertising agencies where she has helped develop marketing materials for companies like KFC, Pizza Hut and other nationally recognized associations/organizations.
Next time, before you comment on others artistic abilities, marketing competence, or logo design... I suggest you take a look at the logos of ALL the Fortune 500 companies. What qualities do they have in common: simplicity, proportionality, small color palette (it's no coincidence that 80% of the world's most recognized logos use either ONE or TWO colors), easily legible fonts, practical/useable/adaptable so it can be affordably and easily used in variey of mediums and easily converted to black & white and web-safe colors, etc.
Obviously the majority people voting for many of the submitted logos don't understand these concepts, and it was a wise decision for Matt and his group to have the final say.