星空传媒

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 *
Carrabba Joseph A
 听 2. Issuer Name and Ticker or Trading Symbol
CLEVELAND CLIFFS INC [CLF] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chairman, Pres. & CEO
(Last)
(First)
(Middle)
1100 SUPERIOR AVENUE,听15TH FLOOR		 3. Date of Earliest Transaction (Month/Day/Year)
05/23/2008
(Street)

CLEVELAND,听OH听44114		 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 05/23/2008 听 F(1) 听 2,125 D $ 92.835 88,251 (2) D 听
Common Stock 听 听 听 听 听 听 听 2,114 (3) I VNQDC

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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 (4) 听 听 听 听 听 听 听 (5) 听 (5) Common Shares 9,960 (5) 听 9,960 (6) D 听
Retention Units 2007-2009 (4) 听 听 听 听 听 听 听 (7) 听 (7) Common Shares 11,100 (7) 听 11,100 (8) D 听

Reporting Owners

Reporting Owner Name / Address Relationships
听Director 听10% Owner 听Officer 听Other
Carrabba Joseph A
1100 SUPERIOR AVENUE
15TH FLOOR
CLEVELAND,听OH听44114		 听 X 听 听 Chairman, Pres. & CEO 听

Signatures

听George W. Hawk, Jr. by Power of Attorney 听 05/27/2008
**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) Surrender of shares in payment of the related tax liability incurred by the reporting person upon the vesting of a restricted stock grant.
(2) Total amount reflects the Company's 2-for-1 stock split on May 15, 2008, which resulted in the reporting person's receiving an additiona 39,438 common shares and 5,750 restricted stock units.
(3) Held for the benefit of the Reporting Person by the 星空传媒 Inc Voluntary Non-Qualified Deferred Compensation Plan (VNQDC). Total ownership reflects the 2-for-1 stock split on May 15, 2008, which resulted in the reporting person's receiving 1,057 additional shares in the VNQDC.
(4) Each Retention Unit represents the value of one Common Share of the Company.
(5) Represents a grant of Retention Units to the Reporting Person under the 星空传媒 Inc Long-Term Incentive Program covering the period January 1, 2006 through December 31, 2008 (Incentive Period). 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.
(6) Total amount reflects a Company 2-for-1 stock split on May 15, 2008, which resulted in the reporting person's receiving 4,980 additional retention units.
(7) Represents a grant of Retention Units to the Reporting Person under the 星空传媒 Inc Long-Term Incentive Program covering the period January 1, 2007 through December 31, 2009 (Incentive Period). 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.
(8) Total amount reflects the 2-for-1 stock split on May 15, 2008, which resulted in the reporting person's receiving 5,550 additional retention units.

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