A member of the media picks up a shredded box at a section of the Union Pacific train tracks in downtown Los Angeles, Friday, Jan. 14, 2022. Thieves have been raiding cargo containers aboard trains nearing downtown Los Angeles for months, leaving the tracks blanketed with discarded packages. The sea of debris left behind included items that the thieves apparently didn't think were valuable enough to take, CBSLA reported Thursday. (AP Photo/Ringo H.W. Chiu)
Crews made railroad repairs in Los Angeles Monday after a train derailed near the location where thieves have been raiding cargo containers, leaving the tracks littered with emptied boxes of packaged good sent by retailers.
It wasn't immediately clear if the derailment that happened Saturday was caused by the debris left behind by thieves in the Lincoln Heights area near downtown Los Angeles. Union Pacific said the cause of the derailment was under investigation.
The derailment caused 17 train cars to go off the tracks, Union Pacific said in a statement. No injuries were reported.
Cargo containers aboard trains have been targeted by thieves for months, authorities said. The stolen packages are from retailers including Amazon, REI and others, the CBSLA television newscast reported last Thursday.
Union Pacific said in a statement to CBSLA that the railroad was concerned about increased cargo thefts in California.
“We have increased the number of Union Pacific special agents on patrol, and we have utilized and explored additional technologies to help us combat this criminal activity. We also will continue to work with our local law enforcement partners and elected leaders,” the railroad company said.
Amazon said it was directing inquiries to police. The United Parcel Service declined to comment on investigations into the cargo thefts but said the company was cooperating with authorities.
The leading gaming organization and lifestyle brand 100 Thieves just raised $60 million in new funding closing its Series C. This new round of funding has raised the valuation of the organization to about $460 million. John Robinson, president and COO of 100 Thieves, joins Cheddar News to talk about what's next for the company.
The Quorum and Cultique released a new study where moviegoers weighed in on their attitudes on going to the theater right now. Linda Ong, founder of Cultique, and David Herrin, founder and CEO of The Quorum, join Cheddar News to discuss what moviegoers need in order to head back to theaters.
The nation's largest vacation rental management company, Vacasa, made its public debut on the Nasdaq via a SPAC merger with TPG Pace Solutions. CEO Matt Roberts joined Cheddar to talk about the company's better-than-expected success and the plans to leverage its IPO to expand the business and refine Vacasa's tech. He noted that with five million second homes across the country, the company has much more room to grow as it currently has just 35,000 rental properties in 400 locations available. Roberts also said that there has been no impact on bookings due to the omicron variant of COVID-19.
Marvel's "Shang-Chi and the Legend of the Ten Rings" is gearing up for a sequel following its earlier this year topping the domestic box office to date. Destin Daniel Cretton will return to write and direct while also taking on additional projects in a multi-year deal.
Online platform Assemble is looking to provide career instruction and inspiration to Black, Indigenous, People of Color (BIPOC) of all age groups for access to industries they might not have been privy to prior. Actor, activist, and one of Assemble's three co-founders, Jesse Williams, and CEO Cortney Woodruff joined Cheddar's "Between Bells" to discuss the Assemble mission and what people can expect from the program. "There's a lot of jobs that folks don't know even exist in the first place, and what we know is that there are incredible innovators at the peak of their field that are Black and brown – in every single field," Williams noted.
Payoneer CEO Scott Galit joined Wake Up With Cheddar to talk about the company's partnership with Walmart to provide working capital to retailers on Walmart's marketplace.
As the country continues to bounce back from the job losses felt at the start of the pandemic, businesses are still struggling to fill jobs, mainly due to the record number of people who have voluntarily left the workforce. and experts say that the challenge of finding the people to fill those roles will likely follow us well into 2022. Beth Ann Bovino, U.S. Chief Economist at S&P Global Ratings explains what’s behind the ‘Great Resignation’.
Between uncertainty over the Omicron variant, and the possibility of a sooner-than-expected taper from the Fed, it was an especially volatile week for the markets. The release of the November jobs report on Friday, with job growth coming in way lower than estimates also caused movement on the market. Frances Stacy, Director of Strategy at Optimal Capital explains why all of this, combined with Bitcoin’s huge drop over the weekend, could make for another rough week for investors.
It was a chaotic week for the market, as investors reacted to the new omicron variant. Today though is all about jobs. Just ahead of the November jobs report, David Riley, Chief Investment Strategist at Blue Bay Asset management gave a run down of what to expect from the report, and what it could mean for investors.
Developers for the video game "Call of Duty: Warzone" staged a walkout in protest of 12 quality assurance testers being laid off by parent company Activision Blizzard. This marks the latest work stoppage for the embattled game publishing giant.