Today's column is on Jos. A. Bank Clothiers' refusal to take questions from its owners and its owners' proxies on quarterly conference calls.

Jos. A. Bank Clothiers stock has fallen by nearly half since last spring. The menswear chain is defending itself against two shareholder lawsuits. Analysts worry it might get squeezed between a falling economy and rising costs. "Short sellers," who will profit if the shares fall further, are betting on it.

How does the company respond? With a passive-aggressive pout guaranteed to egg on the skeptics. Bosses Robert N. Wildrick and David E. Ullman don't take questions on conference calls with stock analysts. Apparently, they don't talk to journalists anymore, either - at least not this one.

Hey, Joe: "Fair disclosure" doesn't mean being scrupulously evenhanded by telling almost nothing to nobody. You're hurting yourself as well as investors. You might even have a good story to tell...

A retail veteran sends the comment below, saying the real question isn't inventory or communication but whether men's tailored clothing will continue to sell. It's a valid point, but people have been predicting the demise of the men's suit for 20 years. It hasn't happened yet.

Jay, I always am interested in and usually agree with what you write, but you somewhat missed the critical issue with JOSB. It's not inventory, many have considered their inventory too high for some time. It's logical to question inventories rising faster than sales, but this isn't A&F we're talking about. Men's tailored clothing's turn is the slowest of slow. And product offering changes very little from year to year. With the dollar's continued weakness and high levels of demand from India and China Bank may be accelerating some buys to counter anticipated inflation. In any case, this isn't central. It's not their mark up/markdown marketing strategy. I don't like it either, but the reality is it's done ok by them for what, ten years? Macy's problem isn't the "red pencil game." It's irrelevance. As with Men's Wearhouse, Talbot's, Chico's, Ann Taylor, etc. there's a reasonable probability that JOSB's aging customer base has moved on. Either cutting back as they approach or enter retirement or, much more importantly, embracing the notion that 50 is the new 40. There's nothing hip or cool about the above listed endangered species. And therein lies the rub.