Guys, I have an older Craftsman Yankee screwdriver that belonged to my late father-in-law. It has a slotted head bit that I would like to swap for a Philips, but I can't for the life of me figure out how to remove the bit. The knurled collar is spring loaded, but pulling it back doesn't release the bit. I've decided it wasn't designed to swap bits, but I thought I'd check with you guys before giving up completely. Thanks.
http://s775.photobucket.com/albums/yy32/mln01/Headliner/Craftsman/?action=view¤t=Craftsman3.jpg
http://s775.photobucket.com/albums/yy32/mln01/Headliner/Craftsman/?action=view¤t=Craftsman3.jpg