Wally obviously has a plan here; but what would he do if someone actually came to the "meeting" on time? Do some real work by accident? How long would it take to get that taste out of his mouth?
@red33410: Early in my career an old-timer imparted some valuable advice: whenever you are away from your desk make sure that you are carrying a folder or a pad or something. It makes just about everyone believe that you are working even though you may be socializing or goofing off.
I suspect that is what everyone but Wally is doing. Even if Wally carried something nobody would ever believe he was working. With that in mind, why would he bother?