News in brief

Delta Dental to aid struggling practices

Delta Dental of Arkansas will provide $6.5 million in emergency financial assistance to dental practices that are serving Arkansans during the covid-19 crisis.

The program will support dentists in the Delta Dental network that are providing only emergency services during the pandemic. Delta Dental is the largest dental benefits provider in the state and serves more than 800,000 Arkansans.

Through its Delta Dental of Arkansas Foundation, the company also is offering $500,000 in grants to community organizations for projects directly related to battling the virus.

"These two initiatives are a way for us to provide financial support to dental providers during a time when their practices are under significant financial stress and to non-profit organizations who need financial assistance to continue to be the safety net that many people rely upon," said Delta Dental President and Chief Executive Officer Ed Choate.

Eligible dental practices can receive up to five weekly advances and can apply or get more information at DeltaDentalAR.com. Practices receiving advances will be required to repay the money with zero interest starting in July.

-- Andrew Moreau

Sale of Trump firm's hotel lease on hold

WASHINGTON -- The commercial real estate industry has ground nearly to a halt because of coronavirus shutdowns, forcing buyers and sellers, including President Donald Trump's company, to put their plans on hold.

Trump's firm has had to press pause on the proposed sale of its Washington hotel lease because of the market's collapse as potential buyers wait for banks and investors to return to normal operations.

The company's sales representative, Jeffrey Davis of JLL, confirmed to The Washington Post that the proposed sale of Trump's lease to the federally owned Old Post Office Pavilion has been set aside as the real estate industry recovers.

Trump's company, now run by sons Donald Trump Jr. and Eric Trump, announced the planned sale in October and set a January deadline for initial bids. It is unclear how many companies are pursuing the lease.

-- The Washington Post

State index closes with a loss of 5.88

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed Tuesday at 316.98, down 5.88.

"In arguably one of the fastest rally-to-bear-market reversals we've ever seen, Wall Street's major indexes fell on Tuesday, with the S&P 500 headed for a record first-quarter decline as the health crisis worsened in the U.S. and brought business activity to a standstill," said Chris Harkins, managing director at Raymond James & Associates in Little Rock.

The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.

Business on 04/01/2020

Upcoming Events