Why not?

Sleepy thought. When you edit something that you can't move, there should be more feedback. At the time when it's deciding whether or not to draw the positioning arrows, there should be some sort of popup.

You can't adjust this object because you do not own it, and do not have modify permissions from the owner.
You can't adjust this object because it is locked.
Or whatever.

Think of the questions that would answer right there.