While the above answers are generally true (i.e. standby interviews being a fake concept promoted by EJMR), they're not universally true. I've personally seen a couple industry employers have "open calls" for interviews late in the day in the table room. Ford did this last year in Philadelphia, for example. I don't know of any academic employers who've engaged in this practice though, and given how much thought and effort is put into whittling down academic candidates prior to ASSA, I doubt any school is interested in exploring it as a serious option.