(Bloomberg) -- Union Pacific Corp. is erecting physical barriers and increasing its own policing of an area in Los Angeles where people have been stealing goods from its trains.
What was a nuisance a few years ago from local residents taking advantage of stopped trains has turned into larger-scale, organized theft, Chief Executive Officer Lance Fritz said Thursday on a conference call with analysts to discuss quarterly earnings.
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The railroad also is working with local and state authorities and encouraging the district attorney to prosecute suspected thieves, Fritz said. He called the Los Angeles thefts a “relatively unique situation.”
“We’ve got our arms around it,” he said. “We’ve cleaned up the area, and we’re going to be enhancing security in the area.”
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