ÐÇ¿Õ´«Ã½

FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
CALFEE WILLIAM R
Ìý 2. Issuer Name and Ticker or Trading Symbol
CLEVELAND CLIFFS INC [CLF]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Exec. V.P. Comm. N.Amer. Iron
(Last)
(First)
(Middle)
1100 SUPERIOR AVENUE,Ìý15TH FLOOR
3. Date of Earliest Transaction (Month/Day/Year)
05/13/2008
(Street)

CLEVELAND,ÌýOHÌý44114
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 05/13/2008 Ìý S Ìý 1,400 D $ 180.37 19,351 D Ìý
Common Stock 05/13/2008 Ìý S Ìý 100 D $ 180.41 19,251 D Ìý
Common Stock 05/13/2008 Ìý S Ìý 200 D $ 180.45 19,051 D Ìý
Common Stock 05/13/2008 Ìý S Ìý 200 D $ 180.46 18,851 D Ìý
Common Stock 05/13/2008 Ìý S Ìý 400 D $ 180.49 18,251 D Ìý
Common Stock 05/13/2008 Ìý S Ìý 100 D $ 180.5 18,151 D Ìý
Common Stock 05/13/2008 Ìý S Ìý 100 D $ 180.62 18,051 D Ìý
Common Stock 05/13/2008 Ìý S Ìý 100 D $ 180.63 17,951 D Ìý
Common Stock 05/13/2008 Ìý S Ìý 500 D $ 180.74 17,451 D Ìý
Common Stock 05/13/2008 Ìý S Ìý 100 D $ 180.75 17,351 D Ìý
Common Stock 05/13/2008 Ìý S Ìý 100 D $ 180.76 17,251 D Ìý
Common Stock 05/13/2008 Ìý G(1) Ìý 55 D $ 0 17,196 D Ìý
Common Stock 05/14/2008 Ìý G(1) Ìý 85 D $ 0 17,111 D Ìý
Common Stock 05/15/2008 Ìý S(2) Ìý 750 D $ 188.4957 16,361 D Ìý
Common Stock Ìý Ìý Ìý Ìý Ìý Ìý Ìý 32,722 (3) D Ìý
Common Stock Ìý Ìý Ìý Ìý Ìý Ìý Ìý 39,812 (4) I By VNQDC

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Retention Units 2006-2008 (5) Ìý Ìý Ìý Ìý Ìý Ìý Ìý (6) Ìý (6) Common Shares 2,340 Ìý 2,340 (7) D Ìý
Retention Units 2007-2009 (5) Ìý Ìý Ìý Ìý Ìý Ìý Ìý (6) Ìý (6) Common Shares 1,980 Ìý 1,980 (8) D Ìý

Reporting Owners

Reporting Owner Name / Address Relationships
ÌýDirector Ìý10% Owner ÌýOfficer ÌýOther
CALFEE WILLIAM R
1100 SUPERIOR AVENUE
15TH FLOOR
CLEVELAND,ÌýOHÌý44114
Ìý Ìý Ìý Exec. V.P. Comm. N.Amer. Iron Ìý

Signatures

ÌýTraci L. Forrester by Power of Attorney Ìý 05/15/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Disposition of shares as gift requires no dollar amount.
(2) Common shares sold pursuant to a 10b(5)-1 trading plan entered into September 24, 2007.
(3) Total ownership amount reflects the Company's 2-for-1 stock split on May 15, 2008, which resulted in the reporting person's receiving 15,011 additional shares and 1,350 Restricted Stock Units.
(4) Held for the benefit of the Reporting Person by the ÐÇ¿Õ´«Ã½ Inc Voluntary Non-Qualified Deferred Compensation Plan (VNQDC). The balance shown also includes 6 shares acquired March 3, 2008 to shareholders of record on February 15, 2008 pursuant to the dividend reinvestment feature of the VNQDC. The total also reflects the Company's 2-for-1 stock split on May 15, 2008 resulting in the Reporting Person receiving 19,906 additional shares.
(5) Each Retention Unit represents the value of one Common Share of the Company.
(6) Represents a grant of Retention Units to the Reporting Person under the ÐÇ¿Õ´«Ã½ Inc Long-Term Incentive Program. Payment of the Retention Units will be made in cash after the completion of the Incentive Period based upon the employment by the Company of the Reporting Person and the market value of a Common Share of the Company on the last day of the Incentive Period.
(7) Since the date of grant, the common stock of the Company was split in two separate 2-for-1 stock splits on June 30, 2006 and May 15, 2008, resulting in the reporting person receiving an additional 585 and 1,170 Retention Units, repectively.
(8) Since the date of grant, the common stock of the Company had a 2-for-1 stock split on May 15, 2008 resulting in the reporting person receiving an additional 990 Retention Units.

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