I just worked on my first........
because the Olympia I got yesterday, had a bad cord winder. When I opened it up, the reel was cracked and shattered mostly where the locking mechanism is located. I also saw pitting and scoring on the surface of the metal contact rings and later the contacts to the motor wiring. This thing got fried.
After I removed the actual cord, I saw where the cord outer casing had torn and furthermore, the wires inside had been exposed. Scoring at the point on the reel itself points to that could have been the source of the shorting.
Good news, I did not get hurt from the spring, I had a replacement cord reel and I learned how the cording is attached and will know how to change the cord if needed in the future.