A short-sighted and fairly presumptuous name

I've recently learned that Occidental College received it's name from the fact that it was the western-most institution of higher learning in the United States at the time of its establishment in 1887. 

Occidental (from the root occident) means "the countries or lands of the West" (in contrast to "Oriental," which implies countries or lands of the East).

This strikes me as a short-sighted and fairly presumptuous name, particularly since it is no longer the western-most institution of higher learning. 

Unless you are absolutely sure that no college will ever be established west of your position, naming your college based upon it's far western position is destined to look silly when someone builds something a block father west than you.