When I was working at the "major microprocessor maker" in the area, I noticed that most of the managers posted their Outlook calendars for the week on the outside of their cubicles. I got out my calculator and figured out that one of the first-level managers was spending 35% of his week in meetings of one kind or another. Each one precious, no doubt.
It would drive me nuts. I'm so spoiled being self-employed. I will have a rude awakening if I ever have to go back to a real company.