That still happens today. Within 24 hours of rumors that Joseph P Blowhard might run for President, Mayor, or Dog Catcher; every variation of his name will be locked up.
Around 1992 I was still a teenager and had the idea to register domains for future resale. At the time it was $70 for two years, $35 each year after, and every name you could imagine was available. Cars.com was one I used as an example to try to convince my parents to give me some money to do it. It was available.
Nobody would listen. I couldn't find anyone willing to invest in a teenage nerd and that crazy interweb thingy. True story.