I've been racking my brains out to fix this but I am not an HTML/CSS expert so I'm out of my wits.
The placeholder text is shown too high from the center of the input box element.
See the following image:
How can I fix this? You can see them live at http://siliconalley.com. When you type inside the input, it actually looks alright. It's just the placeholder that is looking weird.