According to Jon West Blog's report when searching for “Google Checkout” on Google the first result displayed has a title of “use google checkout on hibidder com free”.

There is a screenshot included to the entry of Jon-west.com:
http://www.jon-west.com/?p=58

Due to heavy traffic (?) the blog is not fully accessible generating WordPress database errors.

listed via Digg;
http://www.digg.com/tech_news/Google_Checkout_Homepage_Hijacked_by_Hibidder_com

Not hijacked. Just using link text as the title because it redirects.

More here:
http://searchengineland.com/070430-143605.php

Google uses titles from links (and don't display a description, what also happened) only when it can not access the site, most often because of robots.txt file. I wounder what happened here.

Ludwik, it's basically because Google sometimes does this for pages that redirect too and checkout.google.com returns a 302.

Good news.
Thanks, Tony R.!