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I've seen busted-open ones in the JY and know of the spring-wound thing described above but have never actually opened one up myself. But it went together so it should come apart, but you may need to use your Engineering skills to reassemble it.
I've been in mine and cleaned the contacts and rewound the spring. The copper contacts are the culprit. I took steel wool and polished it and put it back together and it works like a charm. I don't know about graphite inside, I used some lightweight grease on the hub.
There is a mercury bulb in them that, when the hood is open, completes the connection. That connection from the bulb usually corrodes.
I have opened and cleaned out many.
You need to drill out the rivets and install screws when done. As for the retraction issue, hog out he opening in the case, it is not big enough and all you need is a few "twists" in the wire and it hangs.
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