Sorenson 5 People. Step Inside

I am demo'g Sorenson Squeeze 5 this weekend ( I have been using Premiere Pro as my main editing program for yearss) on my new computer I just picked up for video editing (faster machine, crank out more video) and I am trying to work through the time line.

Here is what I am looking for help on....

1. I have figured out the drag and drop for the full length clips, and to set at highest compression.

2. I need to know how I would take the full length clip, and 'cut' it into three sections for example. I see no cut tool, and I am guessing I am doing a batch job, and just pulling the pieces down there but I do not see anything in the help, or nav buttons to help in this.

Ultimately my product flow in Premiere worked like this.....

1. Encode the full length.
2. Cut the clip in so many minute segments moving the time line tabs.. 0-3 min, 3-6, etc..
3. Encode those 'pieces' individually.
4. In Premiere, watermark tile would be done at the same time.

Sorenson Squeeze 5 does allow you to watermark. It now has a long over due filter for it. Which is one of the reasons I am fucking around with this program. Better compression. However, I have not gotten to the watermark part yet.

I am not interested in hearing about Vegas, or any other programs you use. If you are a Sorenson 5 person who can walk me through the few steps I need. I would appreciate it.

Thanks in advance.