My friends and Portfolio have this handy slideshow that shows how much value destroying CEO's were overpaid last year.  Not surprisingly, CEOs of financial firms like eTrade (ETFC – $3.29), Countrywide (CFC – $4.76) and Citigroup (C – $18.62) top the list.

For nearly all companies, the CEO is an employee, not a founder, not a partner, not an entrepreneur.  He (and it is nearly all HES) is collecting RISKTAKER money for being a CARETAKER.  If CEO's had any real skin in the game that meant they had to give money back to shareholders instead of just take it, I'm sure these pay numbers would be different.

It's rare for a founder to ripoff shareholders.

Disclosure: I own Citigroup (my Citigroup blogging history). I own eTrade. I do not own CFC Common. I do own Countrywide Preferred shares.

Self Rightous Disclosure:  I only hold the Chief Executive title for companies I have actually founded.  And none of them have yet to pay me a dime!