Running late costs American companies $90 billion

A recent survey found 15 to 20 percent of the U.S. population is "consistently late," especially when it comes to work.

Chronic lateness isn't just annoying — it's expensive. American CEOs are late to eight out of every 10 meetings, according to a 2006 survey by Proudfoot Consulting. And when CEOs are late by 10 minutes every day, it costs the U.S. economy $90 billion in lost productivity.

"It's a huge drain on productivity when meetings consistently start 10 or 15 minutes behind, and tardiness has a snowball effect as one person's lateness affects the productivity of his or her colleagues," said Diana DeLonzer, author of the recently published "Never Be Late Again, 7 Cures for the Punctually Challenged."

For some, being chronically late can be damaging and embarrassing. For others, it's a way of showing power or prestige. In a 1997 San Francisco State Univeristy study, DeLonzor found that the punctually challenged often shared common personality characteristics such as anxiety, low levels of self-control, or a penchant for thrill-seeking. Article here.