Layer3 down?

From my IT department:

"It seems that the internet is having issues at a Layer3 Communications router, this normally would not be a problem but L3 runs some routing for the internet backbone. The techs at L3 are working on the problem and we do not have an eta as to when it will be back up, this situation is completely out of our control. You may experience short network outages or severe latency." -Dennis