  We present phase-referenced VLBI results on the radio continuum and the OH 18
cm megamaser emission from the Ultra-Luminous Infrared Galaxy, IRAS
17208--0014. The observations were carried out at 1599 MHz using the Very Long
Baseline Array, the phased VLA, and the Green Bank Telescope. The highest
resolution radio continuum results show several compact sources with brightness
temperatures on the order of $10^{6}$ K. These sources are more likely to be
clustered supernova remnants and/or luminous radio supernovae. However, the
agreement between the number of observed and expected compact sources above the
5 $\sigma$ level supports the possibility that each one of the compact sources
could be dominated by a recently detonated luminous radio supernova. The
continuum results suggest that there is no radio-loud AGN in the nuclear region
of this galaxy. The OH 18 cm megamaser emission in IRAS 17208--0014 is detected
at various angular resolutions. It has an extent of $170 \times 110$ pc, and is
mostly localized in two regions separated by 61 pc. The structure and dynamics
of the maser emission seem to be consistent with a clumpy, rotating, ring-like
geometry, with the two dominant maser regions marking the tangential points of
the proposed rotating-ring distribution. Assuming Keplerian motion for the
rotating maser ring, the enclosed dynamical mass and the mass density within a
radius of 30.5 pc, are about {$3 \times 10^7 ({\rm sin}^{-2}i) M{_\odot}$}, and
$281 ({\rm sin}^{-2} i) M{_\odot} {\rm pc}^{-3}$, respectively.
