I recently had a moving company move my car across the country. I picked the #1 rated broker in the United States the last 2 years running. They're just the broker, though. They pick an actual trucking company to move your car. I found out that the individuals involved in the company moving my car had opened 3 other companies in the past 4 years and closed them all. I dug more and found that they had absolutely horrible ratings on the biggest rating site for car-hauling companies and also horrible ratings on the BBB site. Luckily, I got my car without incident, but we need a good way to track scum.
If you tried hard and played by the rules in business and didn't do shady things and failed, then I can understand trying again without serious stigma, but if you're forming new companies all the time, you should be informally punished through lots of information/transparency. It's easy to say "don't go with a company that hasn't been around for X years", but that's really unfair to legit startups trying to innovate.
We need a better answer to this problem.
I'm pretty sure that with the advent of decentralized currencies like BitCoin, we could probably implement Whuffie now.
Anyway, my personal favorite has always been Philip Morris turning into Altria Group. I can just imagine the meeting where they came up with that one: "you know what, fuck it, let's just make up a nice sounding word."
Tallyrand, Napoleon's Foreign Minister, observed that one of the functions of a government is to rename institutions which have, under the old name, become odious.
It's nice when going into a new line of business to be able to do it under a new name and not have to deal with that crap.