Raiding the university

• Smuggling and tax fraud on the academic museum circuit.
  
  
• Pending "reform" would double colleges' reporting burden
  
  
• Alumni credit cards offer rewards to stem decline in use

As for the last one, you might be wondering why that matters. Besides the ethical question raised by encouraging alumni to incur credit card debt, there's an interesting legal issue. A few years ago universities warded off IRS attempts to tax university affinity cards as UBIT by successfully arguing that the revenue was passive royalty income. The universities weren't performing any services such as marketing the cards; they were merely licensing the university's trademarks. Now that the UBIT issue seems dead, looks like some universities have forgotten why they aren't paying taxes on their affinity card income.

Danger, Will Robinson, danger!