"30 minutes", "action points", "notes", "weekly update"?
Seriously, I know that "you're not doing it right" is the standard lame excuse from Scrum-evangelists, but this paints a picture of doing pretty much the opposite of Scrum.
Especially the emphasis placed on the "weekly update" is a big red flag, suggesting this team is doing something that isn't even close to being Agile. Agile and Scrum are supposed to be about delivering working software, and in the case of Scrum it's strictly time boxed. Weekly updates suggest micro-management and/or not delivering anything shippable.
Only the 10:00 versus flex time is a genuine issue. We have a very simple solution for that: if you can't be there, mail it in (or use HipChat). Yes, this also applies to people who start early and are deep in the zone by 10am. It's not supposed to be a two-way conversation anyway, just quickly syncing up.