The facial hair thing has always been fascinating to me, I've thought of some reasons as to why there's some Mob edict regarding it. It definitely seems there is an edict regarding having facial hair. Though I've thought that it has a lot to do with a lot of wiseguys having legit day jobs, or an appearance to keep up for a no-show job, i.e. the early mob's fascination; Maranzano and Masseria with the American working stiff, the 'Boss' title, which is more American than anything else.

"The Feds are a business Anthony, millions of tax dollars are invested in watching your ass, sooner or later, just like you, their gonna want a return on their investment." --- Neil Mink, Tony Soprano's lawyer