Is Blogging necessary in Business world??

Recently, I happen to read an article about blogging habits of Corporate CEOs. The article wonders why many CEOs don't blog? Is it fear of saying too much? fear of backlashing? etc., CEOs may feel that their writings can be misinterpreted in this Stock market driven world by Journalists, Stock brokers, Market analysts etc., The fear is true to a certain extend, still I feel through blogging we can connect to people directly compared to any other media. We can express our opinion on many topics, which will directly express the mind of head of the company. If CEO doesn't the blog to be public, s/he can write the blog that is available only to the employees. Corporate world should encourage these kind of ideas more. I happen to read a blog by a CEO, Sridhar Vembu of AdventNet. Interesting and thought provoking.. For the viewers, here is is the blog.
http://blogs.adventnet.com/svembu/