At the table: In advance of the U.S. Department of Justice’s highly-anticipated report on the police shooting of Alton Sterling, Mayor Sharon Weston Broome has met with community and law enforcement officers to discuss police and community relations. The meeting took place on Broome’s first full day in office on Tuesday. “The meeting and conversation yesterday was insightful and honest,” Broome says in a prepared statement released this morning. “All parties were respectful and agreed changes must be made in order to move our community forward.” Among those attending the meeting were representatives of Together Baton Rouge, Baton Rouge Police Department, Louisiana State Police and 100 Black Men of Baton Rouge, as well as District Attorney Hillar Moore, East Baton Rouge Sheriff Sid Gautreaux and State Police Col. Mike Edmonson. It is not known exactly when the Justice Department’s report on the Stirling shooting will be released.
In the oil patch: Rising oil prices have eased financial pressure for scores of U.S. drillers, but higher oil field service costs could kick in soon, FuelFix.com reports. As companies return to oil patches with new fleets of rigs, the costs of newly hired crews, frac sand, pressure pumps and other equipment used to blast open shale rocks could quickly rise, possibly creeping up by 20% before the end of the year, Houston investment bank Tudor, Pickering, Holt & Co. says. In oil price terms, that could raise break-even levels for shale drillers by $10 a barrel, eating into cash that drillers need to churn out oil from new oil wells, adds David Pursell, head of macro research at Tudor Pickering. Prices have to go up if activity is going to increase, Pursell says, adding that companies are going to have to put more equipment and people to work. Read the full story.
Building it up: Stanley Black & Decker says that it would open a new $35 million manufacturing plant in the U.S. after acquiring the Craftsman tool brand from ailing retailer Sears Holdings. USA Today reports that Stanley Black & Decker CEO James Loree told investors in a conference call earlier this morning that expanding American manufacturing makes “business sense” amid “pervasive” uncertainty regarding the future of U.S. trade with China and Mexico. Stanley Black & Decker plans to add about 1,200 U.S. manufacturing jobs over the next three years to a current U.S. staff of about 3,000. The location of the new plant has not yet been determined. Read the full story.