The name "Wauwatosa" is disappearing from local institutions. Wauwatosa Credit Union is now Focus. Meanwhile, Wauwatosa Savings Bank announced that it's changing its name "because of recent growth and expansions," though it hasn't decided to what.
Growth and expansions? From the Small Business Times: "Wauwatosa Holdings Inc., the parent company of Wauwatosa Savings Bank,
reported this week that its net income declined substantially in the
fourth quarter and for the full year of 2007. The company's fourth-quarter net income shrunk to $307,000, or 1 cent
per share, from $2.3 million, or 7 cents per share, in the same period
a year ago, as the company incurred an eight-fold increase in its
provisions to cover bad loans, according to a filing with the the U.S.
Securities & Exchange Commission. For the full year, the company's net income plummeted to $1.6 million from $8.1 million in 2006.
"A name change is necessary to better reflect what we are now,
and what we plan to be in the future," said to bank President and Chief
Executive Officer Doug Gordon in the Oconomowoc Focus (a news medium, not to be confused with the credit union).
Some of the proposed options: Granite Bank, Security First Bank and WaterStone Bank. Write-ins are also being accepted. I'm thinking Disappearing Bank, or maybe Bad Loans Bank, would be a better reflection of what they are now.
I'm not sure what's wrong with the name Wauwatosa. It's the only one in the world. If you do a Google search on Wauwatosa, you get directed where you want to go. Try that with Focus, Granite, or Credit Crunch.
The Bradley Center is also looking to change its name through the sale of naming rights. Which seems strange, since it's already named after the family of benefactor Jane Bradley Pettit. Center president Steve Costello said that "the changing economic realities of the sports and
entertainment industry require that we explore all available options to
help preserve Mrs. Pettit's gift." Her gift, but not her family legacy.
The Bradley name has been around as a corporate name (half of Allen-Bradley) since about 1910. Anyone want to place a wager on what the new name will be and how long it will last?
Or on which mayoral candidate is most likely to offer to sell the naming rights to Wauwatosa?
