Department Of Labor Issues Corrected Press Release In D. Michael Costello Case

Wednesday, August 06, 2008

The Department of Labor has issued a corrected press release regarding a lawsuit filed against Costello Forensic Accounting, P.C.

According to the revised release, “D. Michael Costello was the president and a partner in the firm while Sharon Hamrick was a certified public accountant involved in the audit of SCT Yarns plans.”

Costello Forensic Accounting, P.C. (“CFA”), formerly known as Costello, Strain & Company, P.C., asked the U.S. Department of Labor to correct an error in the reporting of the settlement of a lawsuit with the firm.

The lawsuit concerned audits of SCT Yarns’ retirement plans. CFA settled the action in May by agreeing to pay $12,500 to the Pension Benefit Guaranty Corporation in order to avoid the expense of further litigation.

In a June 10 release provided to media by the Department of Labor, a factual error was made when D. Michael Costello, a principal with Costello Forensic Accounting, P.C., formerly know as Costello, Strain & Company, P.C., was named as one of the certified public accountants involved in the audits of the retirement plans at issue, it was stated. That statement was inaccurate.

Mr. Costello was not involved in the conduct of the audits at issue in the lawsuit. Further, as he was not involved in the audit practice of the firm, Mr. Costello never met the individuals involved in the audits on behalf of SCT Yarns, officials said.

Mr. Costello said, “I am very pleased that the Department of Labor has corrected the factual error in their report. My credibility is extremely important to me and I am grateful to know that the Department of Labor was willing to publicly make the change.”


Georgia’s Unemployment Rate Drops Significantly To 7.2 Percent In November

The Georgia Department of Labor announced Thursday that Georgia’s seasonally adjusted unemployment rate for November was 7.2 percent. This is a significant drop from the previously released preliminary rate of 7.7 percent in October, which has been revised to 7.6 percent. The rate in November of last year was also 7.6 percent. “This is the largest monthly rate decrease we ... (click for more)

Weaver Named BlueCross Director Of Infrastructure Engineering Services

BlueCross BlueShield of Tennessee has named Jennifer Weaver as director of infrastructure engineering services. She was previously director of the office of the chief information officer for BlueCross. In her new role, Weaver is responsible for the company’s infrastructure engineering teams. She will report to David Marckel, vice president of infrastructure and operations within ... (click for more)

Police Say Texts From Slain Minister Detailed Drug Deals

An investigator testified Thursday that a minister who was beaten to death during an apparent drug deal had texts on his phone dealing with similar exchanges of illegal drugs. The minister's wife said he had gone out that night as part of a church counseling program to women. General Sessions Court Judge Clarence Shattuck bound charges of felony murder and especially aggravated ... (click for more)

Police Say Woman Brought 12-Year-Old Son On Burglary Outing

Police said a woman brought her 12-year-old son on a burglary outing. Melinda Sue Meyners, 31, of the Extended Stay in Hixson, was charged with aggravated burglary, contributing to the delinquency of a minor, criminal conspiracy, theft of property, possession of a controlled substance, possession of drug paraphernalia and having contraband in a penal institute. Her boyfriend, ... (click for more)

Please Don't Close The Piccadilly Cafeteria At Hamilton Place

Oh, no. The Piccadilly Cafeteria at Hamilton Place is closing.  Its last day is Christmas Eve.  I will miss the great food they have there but most of all I will miss their servers, cashiers and waitresses.  They are all so friendly and accommodating.  They make it like it’s a home-style restaurant. I sure wish there was some way that Hamilton Place and ... (click for more)

Roy Exum: The Last Day Of School

AUTHOR’S NOTE: This story first appeared in the Chattanooga News-Free Press in the early 1980s and every year since then I have been asked repeatedly about it. It is easily the most famous story I have ever written – copies have been sent to me from numerous foreign countries -- and it may be the easiest story I ever wrote. All I did was write what the noted religious psychologist ... (click for more)