I ran across a blog entry entitled How to Prevent a Bozo Explosion and just had to check it out.  First, there is a list of tell-tale signs that an explosion is occurring at your company.

6. Your HR department requires an MBA degree for any position; it also requires five to ten years work experience in an industry that is only four years old

I would like to add to that the requirement to add every acronym possible to job opening skills lists.  I have worked in a number of companies that have had more than one list items occurring.  Then the author goes on to tell you what should be done to prevent explosions from happening in your cubicle.

Look beyond the resume. The goal of hiring is building a team of great employees. One proxy for a great employee is a relevant educational or work background. However, the perceived “right” educational background and work experience are not sufficient conditions for excellence. Hiring a bozo with the “right” resume can drag down other employees and increase the probability of hiring more bozos. Not hiring a great person because she lacks the “right” resume is not as harmful but is a mistake too.

I can't emphasize the point above too stringently.  It doesn't matter how talented a team you have assembled if they can't get along.  And just because someone's resume looks phenomenal doesn't mean that they actually are good at the job you are hiring them for.  The intangibles that you can learn in a face to face interview tell you more than what a bunch of words on a piece of paper will.