If you’ve been following the Komen story (or even if you haven’t), you need to read this Jeffrey Goldberg post from The Atlantic. The gist:
Komen … says it cut-off Planned Parenthood because of a newly adopted foundation rule prohibiting it from funding any group that is under formal investigation by a government body. (Planned Parenthood is being investigated by Rep. Cliff Stearns, an anti-abortion Florida Republican, who says he is trying to learn if the group spent public money to provide abortions.) But three sources with direct knowledge of the Komen decision-making process told me that the rule was adopted in order to create an excuse to cut-off Planned Parenthood.
