Spending the day cutting through red tape and doing paperwork and paying accounts and reporting, so there is no time to do any actual work to report on, therefore disappearing up one's own arse.
Bill : "I spent the morning paying accounts and reporting and chasing invoices up my own arse. It was total prodfuctivity. Later that day though I got through a shitload of actual work."
Ted: "Wow, that's counterprodfuctive."