When you setup a time event object to run a Vista report and save it to the hard drive on the local PC no file is saved, even though you can run the report manually.
In the report the path to where the report needs to be saved is incorrect. The report will not create a new directory if the directory does not exist.
A error will be logged in the $log folder of the database in the b0warlog.txt file.
The text will look like this
Tue Jun 26 10:28:46 2012 report >>could not be saved Report report-report, hRes=[-2146827284}
Correct the path to were the report is to be saved or create the folder that matches the report save path.