I found it!
I can’t believe I missed this, but I checked to see what the top content was and it was a review on his site of a product he had done recently. The company that makes the product mentioned the review in their e-mail newsleter.
There was an decent amount of traffic from mail.yahoo clients etc and I think the direct traffic came from people using outlook. Google Analytics wouldn’t know how to site the source of outlook so it put it as direct.
The product wasn’t exactly spot on in his niche, and the page wasn’t exactly conversion optimized which would explain the 95% bounce rate.
I figure that most of the people spent some time reading, but of course Google can only track time on site if you visit another page afterward.
Bingo! Thanks guys, you have helped me maintain my reputation as Google Guru amongst my friends.