A record number of American corporations changed...

A record number of American corporations changed their names during the first six months of 1988, with financial institutions and manufacturing companies heading the list, according to a corporate identity survey. Of the 931 name changes, 53% were because of mergers and acquisitions, the survey by consulting firm Anspach Grossman Portugal Inc. found. Another 21% stemmed from divestitures, spinoffs, leveraged buyouts and sales of assets. But some companies created new names hoping for a new corporate image. Last year, 1,753 corporations changed their names. Eighteen of the newly named companies are listed on the New York Stock Exchange, including Allegis Corp. which returned to UAL Corp. and Bell Canada Enterprises Inc., changed to BCE Inc.