Latest year includes after-tax gains from asset dispositions of $372 million, compared with $222 million in 1986.

The stock buyback occurs "at a time when asset dispositions are taking longer to complete and proceeds may be less than anticipated," S.&P. said.

Holding properties off the market for an extended period of time may increase the ultimate cost of asset disposition.

In 1987, CBS had a loss of $6.7 million on asset dispositions.

Earnings for 1989 also included about $49 million of after-tax gains from asset dispositions.

Yesterday's sale was the last major asset disposition of the empire.

She also proposed legislation and made policies for asset disposition.

Occidental's results included after-tax proceeds from asset dispositions of $372 million in 1987 and $222 million in 1986.

"That plan includes asset dispositions, cost reductions and refocusing on our core business to rebuild our financial strength."

The 1987 net benefited by a net amount of $256 million from special items, including $136 million in gains on asset dispositions.