Does .biz domain extension hurt your business?

I have some product ideas and about to register a business domain. The .com extension of the name I have in mind is already taken. However, .biz is available. I read some speculation about how it may hurt the business. The extension .com is what every internet user is most used to. There's some blog about how Google puts .biz websites well below in their search results. Is .biz really a bad idea as part as search engines and ease of finding the business goes? Thanks.