For anyone having trouble with the shared calendars in Outlook, the helpdesk has been notified.
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UPDATE 12:05 PM: There has been a hardware failure of the Exchange server. So far, this is only affecting the public folders–where all our shared calendars are stored (208, 209, etc.) So we can be on the safe side, please back up your Outlook email by following the instructions at Email Backup and Recovery just in case the problem begins to affect email also.
ITD should have an email out shortly also.