According to the 17th annual Interbrand Corporate Name Change Survey 185 publicly held companies changed their name in 1997! That's a 46% increase over 1996 and a new record! The industries with the most changes were financial service corporations (39 name changes, double that of 1996) and manufacturers (33 name changes). Telecommunications also scored highly, with 11 name changes, up from seven last year.
As we all know too well (and as we report in The Green Sheet) mergers and acquisitions are rampant and therefore, were the leading reason for name changes in 1997. "The volume alone is extraordinary," said Interbrand Chairman Alvin Schechter, "but the reasons behind many of the name changes offer even more telling insights. Name changes affect a corporation's identity on all levels from the financial forecasts to the public perception of products and services."
With our rapidly evolving marketplace and the daily technological innovations, maybe a name change is in the cards for you. There are many ISOs with similar names. For example, there are 67 ISOs whose company name begins with "First" or "1st." Similarly, there are 48 ISOs whose business names begin with "American," 40 who begin with "Card," and 37 who begin with "Bankcard." Finally, there are more than 100 ISOs whose names begin with "Merchant".
So, if you're adding to your service offering, and feel that a name change will work for you, now may be the time. And remember, if you've changed your company name, please let The Green Sheet know!
Paul H. Green
Editor-in-Chief
