Grapevine

By PAUL GRAY/

FISHING AROUND. James Baker is not immune from presidential ambitions, but as a Texan he's effectively prevented from becoming George Bush's running mate in 1992. The Secretary of State, however, owns a spread in Wyoming, the state where he very publicly entertained Soviet Foreign Minister Eduard Shevardnadze last September. If Baker switched his official residence, he could replace Dan Quayle in 1992 or run for the Senate in 1994. For the moment, aides dismiss such speculation, pointing out that the only structure on the property is a "small fishing shack." It could be a good place to wait for nibbles.

With reporting by DAVID ELLIS