It was named thus because we were once eating in a bar/restaurant situated below ground level, with no mobile phone reception whatsoever. At one point, someone mentioned "that submarine movie with Denzel Washington and Gene Hackman in it." We couldn't remember the name of the movie. We could almost recite the entire script, but couldn't say the name of the danged movie.
We tried (in vain) all the way through lunch. We managed the name of the submarine, the Alabama, but not the name of the movie. So the instant we left, off to the Internet movie database. Crimson Tide! Ah, because it was the Alabama! It makes sense now!
Most recent occurrence was two days ago, when we couldn't remember the name of the band that sang "Cult of Personality" for over 15 minutes. We could remember that they were a rare instance of a rock band with black people in it. We could remember that they were not a one-hit wonder, because they had one other hit.
I can only hope that memory storage has been repurposed for more useful data rather than simply lost.