Do LCD tvs burn in images or burn out pixels?

So I just bought a Panosonic Viera 42" LCD TV and was wondering if this tv or lcd tvs in general burn in images or have burn out of pixels. I didn't know if this happens for lcd tvs or if that is plasmas or if that was an older problem once lcdscame out and it is resolved now. I have the picture mode on "Vivid" which looks really nice, but it does seem to be the brightest mode of them all. Should I just keep it on standard and only put it on "vivid" for certain occasions or does it not matter at all. The specs are 1080p, 60Hz, and 15,000:1 contrast ratio if that matters