I used to work for a guy who's management style was to hire other people to do everything. He'd come in at 11, visit each employee's desk to find out what they're doing, bark out some orders, then go to lunch. He'd gossip on the phone with all the other members of the "gay porn mafia" till about 3, then head home to "beat the traffic". From what I hear he's works the same way 10 years later.

It really bothered me that he didn't actually do any "work", but when you own the company, you can operate any way you like.