In West Germany, the electrical group, AEG-Telefunken is suffering a cash crisis which threatens 100,000 jobs.
LV/SV PULL BACK TO GV AEG Telefunken headquarters at Ernst-Reuter-Square in West Berlin (2 shots)
LV ZOOM INTO SV Headquarters of Deutsche Bank, Berlin
GV PAN ZOOM INTO SV Telfunken tube factory
SV PULL BACK TO GV Old Allgemeine Electricitaets Gesellschaft (AEG) turbine factory
GV/SV PAN Another Telefunken factory in Berlin (2 shots)
GV/SV Oldest AEG factory, with AEG sign over gate, and workers leaving (2 shots)
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Background: In West Germany, the electrical group, AEG-Telefunken is suffering a cash crisis which threatens 100,000 jobs. It has appealed to the federal consequences for banks heavily involved in loans to AEG, pushed the West German Mark to its lowest level against the dollar for ten months. AEG shares have fallen sharply, and the company may seek a settlement with its creditors to avoid liquidation. AEG has lost more than two billion Marks (800 million dollars) in the last four years. Managing board chairman Heinz Duerr recently told Reuters news agency that the firm would run out of cash this month (July) unless Bonn met its request for one billion Marks (400 million dollars) in Federal credit guarantees. AEG employs 100,000 workers in West Germany and 20,000 abroad.