The worries of Wall Street have come to stalk us on Sheridan Road... kind of, according to an e-mail sent by President Bienen last night.

In this unstable (read: chaotic) financial situation, Northwestern, just like any other corporation... er, I mean... non-profit... has been forced to reevaluate its business plan... er, I mean... strategies for future academic growth. Apparently, the university has lost about 15% of its $7 billion endowment. Ouch!

This means no new professors or staff (sorry grad students/TA's!) and no word yet on how this will impact financial aid awards or loans. Eek. And something tells me that that plan to completely destroy old university buildings and turn the school into a super shiny, modern complex will have to be reconsidered. As well as Northwestern's Qatar branch. Well... maybe... cause taking tuition money from oil-rich kids in the Middle East sure sounds like a great way to bounce back from this crisis. C'mon, don't act like you don't know that's the real reason they set up a school over there...

Bienen concludes with a reaffirmation that we'll all be alright...

"In its 157-year history, Northwestern University has weathered some very difficult economic times, from the lean years following its founding to the dot-com bust earlier this decade. Through all of those times, the University has remained a citadel of teaching, research and scholarship."

But, like, to him, who cares? He's getting the hell out of here at the end of the year. Bye, bye Bienen! Thanks for that music building we didn't need!