The real homepage is Google, MSN or Yahoo. People go to search. Type in your brand name and the result set is your new homepage. The web reflects the reality. You can't ignore it. If there is something negative, your reaction should be: How do we solve the problem?
Social media is becoming more popular. As a company you CAN'T ignore it. Monitor what the community is saying about your company and act of it. It is not a question if you want to act on it. You need to act on it. The community will decide on how they think about your company.