Seems like I wasn't too far off the mark - Mashable, one of the web and social media's foremost beacons of news and info, has recently also highlighted the warped nature of how we "endorse" the skills of each other. Have a look...
http://mashable.com/2013/01/03/linkedins-endorsements-meaningless/
They'll straighten this out... Mashable (Pete Cashmore) has a tremendous following online and will stir action from LinkedIn.
My post from two weeks ago...
http://davemasterson.com/thoughts/2012/12/20/linkedin-skills.html
Happy New Year, too, everyone!
-dm