This gets asked over an over again:
Why Don't the results show my title correctly...
Why Isn't my description shown correctly in the results...
Instead of going to look for this information again and again to respond to these questions, here it is in one spot right from Google:
Google's creation of sites' titles and descriptions (or "snippets") is completely automated and takes into account both the content of a page as well as references to it that appear on the web.
We use a number of different sources for this information, including descriptive information in the META tag for each page. Where this information isn't available, we may use publicly available information from DMOZ. While accurate meta descriptions can improve clickthrough, they won't impact your ranking within search results. We frequently prefer to display meta descriptions of pages (when available) because it gives users a clear idea of the URL's content. This directs them to good results faster and reduces the click-and-backtrack behavior that frustrates visitors and inflates web traffic metrics.
While we're unable to manually change titles or snippets for individual sites, we're always working to make them as relevant as possible. You can help improve the quality of the snippets displayed for your pages by providing informative meta descriptions for each page.
Continued: Changing a site title and description
And here is the video to go with that page by Matt Cutts, Google Spam Dept.:
Google guru Matt Cutts discusses how best to optimize your site for Google. Matt Cutts joined Google as a software engineer in January 2000. He is currently the head of Google's Webspam team
And BTW: Bing reserves the right to do the same thing.