Yes, you are correct for some business travellers. What I would have done is call my client informed him of the problem and re-scheduled for a time that is not going to cost them or me a huge premium. I have done this already this year, a flight cancelled no alternatives that would meet my schedule, so I requested and received a refund. Airline (no fault on their part) lost that revenue since we just cancelled that trip and will make it up on the next one. My client was happy since I would have passed the increased amount onto them. I think most businesses would also error on the side of saving money, and if it happens often enough they will re-think with whom they are spending their travel dollars. Just my opinion and how I run my business.
As to finding out about weather delays that would be pretty easy by checking the airports that that airplane visited that day and ATC even easier. Actually, you could even check with ATC about weather related delays. In todays age of internet related information it should not be hard. I was making a reference to a line that I do not believe the Airlines will cross. Once you lie to your customers you are no good to them any longer.