Last Friday on the start of a three day holiday weekend, Google pushed out the first update to webspam fighting penguin algorithm.
Google's Matt Cutts announced the news on twitter, calling it a "data refresh" that impacts less then than one -tenth of a percentage searches.
Google Penguin is to penalize websites undertaking some black hat tactics - techniques that are used to get higher search ranking in an unethical manner- and those low quality content. however it seems that Google's fight against web spamming has resulted in the unprecedented crash of established websites for their previously held rankings.
Although I am not expert in this area, in my view, Google latest move most likely would hurt small business sites, such as some travel sites, as they have very limit budget to afford the higher searching ranking through money.
for more details, you can refer to http://searchenginewatch.com/article/2180722/Google-Penguin-1.1-Pushed-Out-As-Some-Sites-Report-Recovery
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