I have read a number of comments recently about the decline of Vanderbilt. Note, however, that EIU ranks it #53 worldwide- solidly in the company of many Near Elites such as Rochester and Indiana.
FT 2005 ranks Vanderbilt #31 worldwide- just between Maryland and Georgetown. Again, Vanderbilt is ranked near its fellow Near Elite cluster schools.
BW2004 also places Owen near its fellow Near Elites at #30 (just below Rochester). It was ranked slightly higher in 2002 but lower in 2000. This hardly seems an alarming collapse in rankings.
Overall, Vanderbilt appears to be exactly where we would expect it to be- higher than some Near Elites in one ranking and lower than some Near Elites on other rankings. If there has been a collapse in rankings where did it occur?