I just recently upgraded from 10.6 to 10.8. On 10.6 I could set the terminal to close the tab/window when the shell exits.
Mountain Lion's terminal just says the process is completed and the tab/window stays open:
bash$ exit logout [Process completed]
I find this very annoying, but I no longer see the preference to change it. Is there a way to set Mountain Lion's Terminal to close when its process exits?