The few/rare times I'm running late, I'll apologize and inform the person in advance. I've heard of the stereotype that for us time isn't essencial, that latinos are always late. If you organize a date or party and someone says I'm getting there soon, they can take an hour or so. Or they call you and say I'm close to your house, unannounced.
Personally I don't appreciate it when someone is always late. My flaw is I'm always on time, even arriving 5-10 minutes before. I don't like unannounced visits either. That's not my style. If I visit someone (even my grandmother), I will call in advanced, ask if they're unavailabe on that day and tell them the time I'll come.
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Different cultures tend to have a "different" relationship with time and punctuality, that's true. If you think Latinos are bad, you should meet some islanders - folks from the Caribbean, Filipinos, Hawaiians, etc. Almost universally, they're on "island time" - meaning being 1-2 hours late is the norm.
America has a lot of English and Germans who were early founders, and both of those cultures are very industrious and tend to value punctuality, as well as a strong work ethic. Other cultures value these things less than the average American does. Many countries, despite being "richer" countries, are monetarily poorer because they have high taxes and more time off from work because they value work/life balance more than being industrious, and look at Americans as being too work-focused.
It all just depends on what you're used to.
I used to live in the US long ago (from ages 4-20) and even though I've been in my homecountry for a long time by now, I still consider it important to be punctual on appointments or invitations. I guess the American value of punctuality is still deeply ingrained in my mind.
I think you're right. :)