The new Lenovo ThinkPad T43 [ that string of words still does not sound quite right ] continues in the ThinkPad tradition, by being black, understated, and with an outstanding keyboard. The T43 is small and relatively light at about 12 x 10 x 1 inch and just over 5 pounds. It has the new Centrino/Sonoma chipsets, PCI Express, up to 80GB of hdd and a maximum resolution of 1400×1050 pixels. ThinkPad T43 - product homepage 
This recent sale of the IBM Thinkpad division to Lenovo is a win-win situation. Its good for IBM, because each ThinkPad has been sold at a loss up to now, not unlike the situation over at GM and Ford. And the deal is very good for Lenovo – some projections have Lenovo in the number one spot in terms of revenue by the end of the decade. The IBM-Lenovo signing ceremony is pictured in the sidebar – Lenovo Chairman Liu Chuanzhi and IBM VP John Joyce formalized the transaction on Dec 8, 2004. Lenovo buys IBM’s PC unit for $1.25 billion
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I thought ThinkPad was a strange thing for Lenovo to buy, but you’re right–it worked out nicely.
With the name “ThinkPad,” they probably wanted to indicated that this was an unusual product, not quite a notebook or a laptop.