Check this out.  Best Buy no longer keeps track of the hours of its corporate managers but only track the results they produce. 

http://www.businessweek.com/magazine/content/06_50/b4013001.htm

via: http://lifedev.net/2006/12/bestbuy-workers-now-measured-by-productivity/

Speaking for myself, this makes me think about my meetings and how I review the people I supervise.