Bank Official Named Postmaster General
The beleaguered Postal Service, the nation's largest semi-independent corporation, named Anthony M. Frank yesterday as its 69th postmaster general.</br></br>Frank, 56, is chief executive officer of First Nationwide Bank, a Ford Motor Co.-owned savings and loan with the highest credit ranking in a troubled industry.</br></br>"I am honored to be selected; I believe this is a position I can fill, and I would like to pay back this country for what it gave my family when we arrived as refugees from Nazi Germany in 1937," Frank said.</br></br>On March 1, Frank will take over a Postal Service on the eve of a rate increase and service cutbacks. He will walk into a battle over control of the post office system that has been raging underground in Washington for three months. He will face fights over postal revenues as well as power over the $32.2 billion annual operation that reaches into every home and office in America.</br></br>Over the past five years, the Postal Service has grown larger than General Motors Corp. by adding about 150,000 workers-more employees than most companies' total payroll. Last year it handled 153.9 billion pieces of mail.