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If perception equals reality, then general manager John Paxson is ready to blow up the Bulls–again.

At the halfway point of a season touted as a return to respectability, the Bulls are ahead of fewer teams–two–than their number of rebuilding plans since Michael Jordan left town.

The current renovation, in which former general manager Jerry Krause banked the future on high schoolers Eddy Curry and Tyson Chandler, isn’t working.

Given his back-to-back blockbusters of firing Bill Cartwright and trading Jalen Rose and Donyell Marshall to Toronto, some might call Paxson impatient. But he isn’t rash.

That’s why, though he’s fully aware of the colossal disappointment this season has produced thus far, it’s safe to assume Paxson will have Chandler and Curry wearing Bulls uniforms past the Feb. 19 trade deadline.

“I’m going to err on the side of caution on those two big kids,” Paxson said Tuesday. “We’ve invested 21 1/42 years in those two big kids, 31 1/42 years with Jamal [Crawford].

“It’s disappointing where we’re at, and I won’t make excuses. We’ve played poorly. But I’m not going to panic. We still have young guys who are trying to learn.”

Don’t misunderstand Paxson. He knows other teams may send feelers on both players even though a perception existed before the season that Chandler and Curry were untouchable cornerstones. Paxson even may initiate some discussions, given that there has been backroom discussion at the Berto Center on whether Curry has the fortitude to flourish in his distraction-filled hometown.

“It’s tough for him with the pressures of having everything here, friends you grew up with, high school, family,” said Crawford, Curry’s closest friend. “But he’s fine and his dream is to play well for the Bulls. He just puts so much pressure on himself because he wants to be so good.”

No matter the leaguewide perception that Curry and Chandler are available, bear in mind Paxson made his six-player trade with Toronto not only to get rid of Rose but to build around Curry and Chandler.

Given that the Bulls are likely staring at another high lottery pick, it could behoove Paxson to wait until closer to the June 24 NBA draft to explore deals. A high pick–say, two or three–coupled with Curry or, less likely, Chandler, could net the Bulls a bundle at a time when more teams are shopping than at the trade deadline.

If any of the young Bulls are dealt before the Feb. 19 deadline, it’s most likely to be Crawford because he will be a restricted free agent this summer.

It’s disappointing where we’re at, and I won’t make excuses. We’ve played poorly. But I’m not going to panic. We still have young guys who are trying to learn.”

–Bulls GM John Paxson

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NET RESULTS

Which Bull goes?

The Tribune’s Sam Smith says the Bulls should move two of these three players: Eddy Curry, Tyson Chandler and Jamal Crawford. Who would you get rid of?

43% (1,564)

said Curry and Crawford

25% (938)

would keep two of the three

13.7% (504)

would keep all three

10.8% (399)

said trade Curry and Chandler

7.4% (273)

said dump Crawford and Chandler.

3,678 total responses at ChicagoSports.com–

the Web site of the Tribune’s sports department.

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Edited by Michael Kellams (mkellams@tribune.com) and alBerto Trevino (atrevino@tribune.com)