Blog Flogging

I don't get the fundaes behind this whole corporate blogging thing. They've introduced it at my company as well and very honestly, the posts are not as interesting as the ones posted by the same bloggers on the net. So what major breakthrough are they hoping to achieve by hosting a blog at the office???
I read recently about how Cognizant's blog has been a hit all the way. And the same article had a whole bunch of people including my own "flat world" CEO eulogizing the very concept and the kind of insight it provides them. (By the way, forgive me for equating myself to Tom, but the lines that launched the bestseller are going to prompt a post on this blog - by me of course - very soon - as soon as I find the time to type it out.)
I personally didnt have a problem with the blogs at all, and often read those by some of my friends. But I wonder how could you possibly have the freedom to write stuff on that blog?? On any given day I'd love to crib about a few things - including the straight back of my chair - and if I have to check and recheck everything I write to see that it conforms to company policy, then it sure does take the the cheeze out of blogging.
Why I am waking up to this suddenly (that too after months of leaving my blog to wither away and "die a painful death" as Alex would put it) is because of the recent hauling up of a colleague for a cheeky poem he posted on the company bulletin board. Ok it was more than just cheeky, and I do think there are better ways to express your angst, but still, if it is company policy to not crib about anything in the company then why have these outlets for expression??
In any case, where the devil is the time for all that?????????????