A professor at the University of New Hampshire was convicted of exhibitionism, exposing himself to a woman and her teenaged daughter in a supermarket. The University of New Hampshire tried to fire him, but the union contract specifies that only moral deficiencies of a "grave" nature are sufficient grounds. Exhibitionism is not considered particularly serious, apparently. TaxProf Blog has the video of the news story.
Just another reminder that being well-educated does not necessarily improve your morals.