Well, here is the fix. I found this myself:

Go to View -- Arrange By -- Current View -- Customize Current View

Check Fields. It WAS set to Created, Created. Set to Start, End (Default
for Outlook) and it corrects the view.

"JMS" wrote:

I have a user that is using Outlook 2003 SP2 and we run Exchange 2003. He is
experiencing a very frustrating problem with his Calendar. Here's what
happens:

A user will send a Meeting Request to Steve. Let's say it is for a
meeting that goes from 9:00 AM to 9:30 AM tomorrow morning. It shows up
in his Inbox, as expected. He is able to open it, accept it and view it
when he goes to his Calendar.

The problem is the meeting time for the item has changed. Instead of
9:00 AM to 9:30 AM tomorrow morning, it shows up as 3:42PM today (the
time the request was accepted) to 9:30 AM tomorrow morning.

This even happens if Steve creates the meeting item on his own.