This could be bad news for any company who wants to keep their online reputation clean and typo-free. It's interesting to note that Facebook doesn't have any means in place so that a company's site admin can monitor or reject recommended changes by random strangers. A competitor could log into Facebook and modify your Facebook Place page for the worse and no one would be the wiser, except you. Site settings have been like this for more than a year. But then, Facebook isn't interested in fixing petty details.
This is not to be confused with a Facebook company profile page, which appears to still be secure.