Option to deactivate Company

I can't see a group in the idea exchange about 'Companies' so I'm adding it here.

Would it be possible to have the option to de-activate the Company so

a) it doesn't come up on the out of the box drop down list when creating a new project
b) we can create a report that shows all the active ones only (I can create a custom field for this one but it won't meet item 'a' above