This NY Times article describes how some people are reading blogs written by employees of companies before deciding on applying for jobs:
Five years ago, few people had heard of blogs — online journals that are commonly used to chronicle the lives and opinions of their authors. Now, more than two million Americans are blogging, according to a study by the Pew Internet and American Life Project — and blogging is spreading in the job market, said hiring managers and experts who study blogging.
A much more interesting perspective would have been to talk to hiring managers who read applicants blogs and base part of their decision making process on that. I know a few people who put applicants names in Google, and if you do that to me you quickly find Blankbaby, so why not base part of your decision on that? Blogs give you a very unique window into someone's life and that is what has made them so popular.
So, if you're looking to hire me feel free to look around, chuckle at some entries, marvel at my lack of photography skills, and then offer me a lucrative position based on my 'mad writing skillz' as the kids would say.