sic transit gloria mundi
Literally, "thus passes the glory of the world," from Latin. Used figuratively to express regretful recognition that something has or is about to end, as all things eventually do. I can't believe the university is closing down—it's nearly as old as the country! Well, sic transit gloria mundi, as the saying goes.
in transit
In the act of traveling somewhere. Dad's in transit right now—I put him in a cab about 15 minutes ago. A: "That package still hasn't been delivered?" B: "Nope, it's in transit, according to the tracking information."
in transit
while in the process of being transported. Dave is in transit from London to Chicago. The new stereo is now in transit from the manufacturer.
sic transit gloria mundi
Nothing on earth is permanent, as in His first three novels were bestsellers and now he can't even find an agent-sic transit gloria mundi . This expression, Latin for "Thus passes the glory of the world," has been used in English since about 1600, and is familiar enough so that it is sometimes abbreviated to sic transit.