So I decided to so some research on the net to find out about this "issue". And ran across tons of discussions and material on the correct usage of the apostrophe.
One of the best discussions forums on this topic can be found here in Mediawhore. An excellent and comprehensive journal on the Plural Noun Forms is available here by Webster.
And by far, the best comment on this controversy was this image
from AngryFlower.com. Its hilarious. And while you are it, do check out the Angry Flower website. Its pretty good.