I applied online. The process took 1 day. I interviewed at Bloomberg in Oct 2010
Interview
I applied online and then got a call about two weeks later for a phone interview. We set up a time and the interviewer called me right on time. The questions were vague (eg "Where do you see yourself in five years?") and not really probing. We didn't really have any chemistry (not my fault, I tried) and then a week later I got the rejection notice.
I applaud them for actually using their online system, setting up the interview, and letting me know I did not pass.
However. A company that makes a big deal about having "attention to detail" and then makes spelling errors in the job description and then uses really vague non-detailed questions during interview should really step up their game. Still, better than most in that they actually got back to me in a timely fashion.