1999 Corporate Name Changes Break All Records: New Corporate Names Set 30-Year High.Business Editors NEW YORK--(BUSINESS WIRE)--Jan. 10, 2000 The number of American corporations changing their names in 1999 exceeded last year's record by 42 percent. The 30th annual corporate name change survey released today by Enterprise IG, Inc. reported a total of 2733 US corporations adopting new names last year, exceeding the previous record of 1925 new names set in 1998. Announcing his firm's annual tally, Chairman Jim Johnson stated: "The explosion in corporate name changes in 1999 reflects two major trends: 1) the continuing growth of mergers and acquisitions across the entire spectrum of American business from Fortune 100 companies to relatively recent initial public offerings and 2) the conversion of many smaller companies' names to 'dot.com.' In the latter category we have noted an accelerating consolidation among service firms that assist other companies in exploiting the advantages of the Web." The Enterprise IG survey, the most comprehensive of its kind, covered listed corporations on the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , American, Boston Stock Exchanges, and NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on , together with major privately held companies privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. and US subsidiaries of foreign corporations. In the 1999 survey new names were adopted by 158 companies on the New York and American Stock Exchanges This is a list of American stock exchanges. Stock exchanges in Latin America (where Spanish and Portuguese prevail) use the term Bolsa de Valores, meaning 'bag' or 'purse' of 'values'. or 6 percent of the total, while NASDAQ listings accounted for 532 or 19 percent. Financial institutions, as customary, represented the largest number of new names, with 993 or 36 percent of the total. Contributing importantly to this figure were the underperforming mutual funds merged into better performing portfolios. Communications companies, reflecting in part the consolidation noted by Mr. Johnson, placed second with 473 or 17 percent. Only 199 manufacturing and industrial corporations took new names, but this category included such heavy hitters as AlliedSignal which merged with Honeywell to form Honeywell International Inc.; Armco which became AK Steel Holding Corporation; Hewlett Packard's testing division which went its own way as Agilent Technologies This article needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. Inc.; and Tenneco Inc. which split into two companies with the packaging operations taking the new name of Pactiv Corporation and the auto parts Auto parts are components of automobiles. They mainly are, in alphabetic order (only car specific articles or articles with car section):
Among financial leaders, The Equitable Companies Inc. took the name of their European parent and became AXA AXA Anguilla, Anguilla (Airport Code) AXA Alpha Chi Alpha AXA Animal Crossing Ahead (online forum community/guide to the game Animal Crossing) AXA Auxiliary Artery Financial; Fleet's merger with Bank of Boston was initially named Fleet Boston Corp. and recently became FleetBoston Financial FleetBoston Financial was a Boston, Massachusetts-based bank created in 1999 by the merger of Fleet Financial Group and BankBoston. In 2004 it merged with Bank of America; all of its banks and branches were given the Bank of America logo. Corporation. BancBoston Robertson Stephens dropped the bank link and resumed its original moniker (1) A name, title or alias. See alias. (2) A COM object that is used to create instances of other objects. Monikers save programmers time when coding various types of COM-based functions such as linking one document to another (OLE). See COM and OLE. , Robertson Stephens, while Wheat First Union Securities went the other way and became First Union Securities; the New York commodity exchanges merged to form the New York Board of Trade. Big Brown, as part of its IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. , broadened it geographical scope by replacing United Parcel Service United Parcel Service, Inc. (NYSE: UPS), commonly referred to as UPS, is the world's largest package delivery company, delivering more than 15 million packages[1] a day to 6.1 million customers in over 200 countries and territories around the world. of America, Inc. with United Parcel Service. The merger of Allied and North American Van Lines North American Van Lines, or NAVL, is a large, United States based trucking company originally formed in Cleveland, Ohio and later based in Fort Wayne, Indiana, that is mainly dedicated to helping clients during the process of moving. produced Allied Worldwide Ltd., and the Stewart Ford Racing Team adopted Jaguar Racing Jaguar Racing was a Formula One team that competed in the FIA Formula 1 World Championship from 2000 to 2004. It was formed from the purchase by Ford of Jackie Stewart's Stewart Grand Prix Formula One team in June 1999. , to emphasize Jaguar's return to Formula One racing This article focuses on a specific subtopic of Formula One. A Formula One race takes place over an entire weekend, with two free practice sessions on Friday, a practice session and a qualifying session on Saturday, and the race on Sunday. . While the largest number of name changes occurred in the financial, communications, and manufacturing sectors, health care produced 161 new names or 6 percent, to place fourth, followed by energy with 114 or 4 percent. Other categories were technology, food including fast food, retailing, transportation, and miscellaneous. Geographically, New York came in first, with 209 new names; California placed a distant second, with 130, Illinois, third with 91; followed by Texas with 76; and Massachusetts with 65. Enterprise IG, is a brand and identity consulting firm serving the business community from 10 offices, in New York, London, San Francisco, Hamburg, Hong Kong, Taipei, Stockholm, Oslo, Singapore, and Shanghai. Established in 1969, Enterprise IG helps corporations worldwide in developing corporate, retail, and brand identity systems. Clients include Qwest Communications International Inc. and U S WEST, Ford Motor Company, Fidelity, OppenheimerFunds, Chevron, Lockheed Martin, Merck, Monsanto, and Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. , among others. 10 Year Corporate Name Change Trend 1999 2,733 1998 1,925 1997 1,625 1996 1,471 1995 1,153 1994 1,114 1993 1,004 1992 1,285 1991 1,069 1990 1,321 Reasons for Corporate Name Change 1999 1998 % Change Mergers & Acquisitions 869 747 16 Straight Name Change 1739 1,059 64 Divestiture, Spin-off, Sale of Assets 68 82 -17 Change to Holding Company 6 6 0 Corporate Reorganization 4 17 -76 Miscellaneous 47 14 236 Name Change by Industry Group 1999 1998 % Change Financial 993 435 128 Industrial & Manufacturing 199 202 -1 Communications 473 335 41 Health Care 161 167 -4 Energy 114 155 -26 Technology 91 111 -18 Food, including Fast Food 81 64 27 Retail 50 54 -7 Transportation 44 44 0 Miscellaneous 527 358 47 Source: Enterprise IG, Inc. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion