That's a strange policy, don't you think? It isn't just the most recent call either. Checking on seekingalpha, none of the other CC's have Q&As.
What's up with that? Has anyone ever contacted Investor Relations and asked them about this policy? Maybe they refuse questions at the IR level also.
To me, it's suspicious when a company will not tolerate a healthy dialog with investors on the CCs. Just on that basis alone, I wouldn't want to go long BBBY even if they were in good shape. Afterall, there are something like 14,000 companies registered with the SEC. Why buy shares in one of the few companies that hides from rigorous communication with shareholders? It points to a secretive nature, a nature prone to hide things, and to gloss over serious problems.
Longs shouldn't worry. The Bush administration had a secretive nature and everything turned out peachy-keen in the good ol' U.S. of A.
I noticed that it's not a one time event but a continuous policy. I checked about 5 or 6 transcripts at Seekingalpha and they never take questions.
Almost every company has a Q&A on the CC. I can't think of any that don't, except for BBBY. To me, it speaks to the character of management. They don't want to explain themselves to the plebian shareholders. It's very arrogant. Afterall, the shareholders own the company. Don't they have the right to question management about what's going on?
I just don't trust a management team that refuses to dialog with shareholders. It's a bad policy.