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He says yes to projects but fails to follow through. As deadlines approach, he can't be found, even via email. When the work is finally turned in (often by others who have covered for him), he'll go on a mini vacation to "recuperate from the stress."
How to cope: Unfortunately, the only solution here is a little good old-fashioned micromanagement. Lay out frequent (even daily) milestones, and create consequences for missing one -- or for failing to report that he missed it.