- They're Microsoft arse lickers: link.
- The owner is an elephant MURDERER: link.
- They support SOPA, the infamous piece of legislature that's going to fuck up the Internet, at least a good part of it: link.
There's also a heated Reddit debate about Godaddy and Sopa: link.
If you're looking for an "honest" registrar, I've had a pleasant experience with Gandi.
Later edit - Here's a tutorial on how to move from Godaddy: http://blog.jeffepstein.me/post/14629857835/a-step-by-step-guide-to-transfer-domains-out-of-godaddy. This tutorial shows how to move to Namecheap - which oppose SOPA, but under the circumstances I'd really try not to host anything in the USA.