Hi guys,

I am applying for PhD program in U.S business schools. I haven't heard anything from them yet. Not an interview even. Is this a bad sign?

yep

Actually could be a good thing; they taking time to consider you

There is forum for the ones like you (and me) at Business Week website. Go to:
http://forums.businessweek.com/bw-bschools
You will have to sign up there. Then among b-school forums find the one called "PhD in Strat.? 4th yr @ Top 25 taking Q ". It has all information you are looking for. Although I have to say it has over 4500 messages, you can look at last 200 to see what is happening at different b-schools. It's all related to PhD programs. Good luck!

thanks a lot for the info!