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You're kidding, right? You won't even be ON a reputable company's 'radar' if your GPA is below a certain mark (as someone mentioned, grades are screened by a computer). The higher the position you're applying for, the more closely they're going to study your GPA and other academic marks. Sure, you can look good by doing lots of out of class work on the side, but your grades are the best indicator of how much you know about a given subject, at least in the current business world. Internships also play a huge factor, but you need good grades to get those as well.
lol how old are you? because im graduating college in the spring. I have a 3.27 GPA and leave it off my resume. Nobody has ever asked me what my GPA is. Im telling you they do not care. Maybe in business they do, but in my major they do not give a shit.