The real story (http://nostalgia.wikipedia.org/wiki/Charles_Proteus_Steinmet...):
In the early years of this century, Steinmetz was brought to General
Electric's facilities in Schenectady, New York. GE had encountered a
performance problem with one of their huge electrical generators and had
been absolutely unable to correct it. Steinmetz, a genius in his
understanding of electromagnetic phenomena, was brought in as a consultant
-- not a very common occurrence in those days, as it would be now.
Steinmetz also found the problem difficult to diagnose, but for some days
he closeted himself with the generator, its engineering drawings, paper and
pencil. At the end of this period, he emerged, confident that he knew how
to correct the problem.
After he departed, GE's engineers found a large "X" marked with chalk on
the side of the generator casing. There also was a note instructing them to
cut the casing open at that location and remove so many turns of wire from
the stator. The generator would then function properly.
And indeed it did.
Steinmetz was asked what his fee would be. Having no idea in the world what
was appropriate, he replied with the absolutely unheard of answer that his
fee was $1000.
Stunned, the GE bureaucracy then required him to submit a formally itemized
invoice.
They soon received it. It included two items:
1. Marking chalk "X" on side of generator: $1.
2. Knowing where to mark chalk "X": $999.
Smells like an urban legend. Sure enough, snopes has it: http://www.snopes.com/business/genius/where.asp
(Sorry in advance for those nasty pop-ups. Disable javascript if you have that luxury.)
A "genius" was consulted, and after snooping around for a few minutes, logged in, and changed one byte. Everything worked perfectly.
"Thank you, thank you, thank you!" said the owner, "Give me a bill."
The bill was $10,000.
"I can't pay this bill until it's itemized," said the owner."
No problem - Changing the byte: $1. Knowing which byte to change: $9999.
Genius is: a) Understanding that focus MUST be directed exactly where it's needed, b) Being willing to do it, and c) Being able to do it no matter where it is.