While the employee took slacking to brave new heights, he left a lot of room for improvement. For example, he could have negotiated the opportunity to "work from home" (I mean, if his work can be done from China then surely he could telecommute, right?). And then, he could do anything he wanted - presumably, something cooler than watching cat videos. If he really wanted to raise the bar, then why stop at one job? With somebody else doing all the work, he could easily hold down five or six jobs and make a killing!
HT: Derek Bottcher (.vcf), my Mason Law classmate and currently an employment lawyer at Cooley.
UPDATE (1/23/2013): It turns out the employee was a little smarter than I gave him credit for! From a different article:
[H]e also padded his income as a contract worker for other local firms, for which he also relied on his Chinese outsourcing arrangement.So, he did pick up some extra income! (HT - Greg Mankiw via email from my father)