Under the "Why didn't I think of this earlier?" catagory:

Thin strip of steel 2.5 - 3 feet long, bent into an "L" shape (cross piece is ~4" long)
Line the bottom side of the cross piece with 4-5 or more neodymium magnets 0.5" diameter

Voila!! Dropped hook retrieval device.

Use the silver magnets (think: landing net magnet), the neodymium ones, as they are stronger. Buy them at craft stores, e.g. Michael's. Sweep the floor for those size 22s you dropped.