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Why get rejected if you meet the minimum requirements?

I've visited the IBM careers page a couple of times, and I've noticed that some of their Software Development jobs only require a high school diploma in terms of education, and about 1-2 years of experience in other things, such as Java programming, UNIX experience, etc. Why is it that when someone with a Bachelor's Degree in CS applies, who have about 4-5 years of experience in the technical areas they require, get turned down? I'm not generally speaking here because I can't speak for the rest of the applicants, but I do know 2 people who I went to college with who have this amount of experience and who have been rejected by IBM. I also know people who do work at IBM with a Software Development position and don't have a degree in CS or as many years of experience. Any thoughts on this? I'd appreciate the feedback.