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Broken ribbon
There are 2 styles of ribbons, the older C4 uses a nylon rod with a metal hook and the newer ones uses a gear type ribbon. If yours is the old style, which i believe it is, then you will have to remove the motor, open it up and replace the nylon rod and finial end. I got my mast repair kit from GM for around $20. Here is a little info from my 86 manual. http://members.shaw.ca/agent86/Power%20Antenna.pdf