a skunk changes its name

Blackwater, the private security (that is, mercenary) firm with various problems in Iraq, is taking the classic corporate approach to systemic problems with the firm. Reform? Nah. They're changing the name from "Blackwater" to "Xe".

I don't even know how to pronounce "Xe" (apparently it's "Zee"). Why this name, and why did it take a year allegedly for Blackwater to come up with this new monicker?

Because they wanted something really obscure? Maybe people will see the name "Xe" and assume they are an exchange rate website. Or something to do with xenon...