why do you think someone regged the name in '98 if it wasn't somewhat generic? if the company name didn't exist then, there must be a reason why this person would have taken the name. a valid question I think.
"Brandable" names are often registered for PPC sites or for development, or even to sell, without an already-existing company using that name, which are actually "good-faith" registrations, since the intent was to steer clear of trademark infringements and existing business names.
Some domainers come up with coined or made-up words, like MONEYTOPIA or CASHMANIA. OR, construct two-word domains with American-sounding words and names (like American, National, Federal, Washington, Lincoln, Interstate, etc.) and associate them with business terms, like Bank, Finance, Loans, HomeMortgage, Insurance etc.
So, when a new company forms, and want's to use a "brandable-type" name, using common words that work well together (like AcmeInsurance.com, USAInsurance.com and LincolnInsurance.com) ,those types of names are likely going to be registered.
As an alternative, the new company needing a web address can come up with a truly distinctive name, like RobertJohnsonInsurance.com, but they are often upset when the domain they originally wanted, that they "thought-up" is registered.
It's bad enough when a domainer registers a domain in "good faith," not knowing there was a company somewhere using that name, that may or may not have trademark rights to the domain, and then making a challenge to it's ownership - but it's pathetic when someone comes along, creating their identity after your domain was registered and then they start making false claims and threats.
It appears that twells22 may have been heading in that direction, and that's why so many here are getting pissed off. The "good domainers" (those who intentially try to acquire only non-infringing domains) are often outraged when false claims are made - in other words, reverse domain hijacking attempts.
It seems the common Joe still has misperceptions about domains. They often compare a domain's value with the cost of a registration fee. They think anyone who has domains for sale is a "cybersquatter." They think a PPC landing page is "not really being used for anything." And they often think they have superior rights to such domains, and that they should be handed over for a small fee. Those are the people that often make false claims and try to intimidate you into giving up your domain. Know your rights and fight to protect the ownership of your domains!