Our research expenditures are going off the wall. We'll [have] more than $100 million in research expenditures. That's nice. That's just a number. What does it mean? Let me focus on this: Our facilities and equipment expense plus our direct research expense is about 54 percent, so more than 50 percent of our operation is driven by research.

We have more than 3,000 undergraåduates and more than 15,000 graduate students who run through our college, but more than 50 percent of our operations are funded by research. So it becomes a management issue, a financial issue as well as an intellectual issue. You have to know where the money goes when you're being driven by research and what the rules are.

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