I managed to lose my ability to shift my 76' OMC 235 sterndrive into forward yesterday. Shortly thereafter, I lost the ability to shift into reverse. First of all, I was pulling the kids on the tube and all was well. We paused and decided to run up to the damn. Once there, I dropped the tube back into the water, and then it happened. I started her up, and she engaged into forward and while throttling up, she slipped out. I tried this again and she slipped out. It wasn't a bad hub on the prop. This was definitely from the sterndrive unit itself. So I tried reverse. All was good. So, we loaded back up and I attempted to reverse back to the ramp, very slowly. Until... we got swamped by a passer-by killing the motor. Once I got her fired back up, I tried to engage reverse, and there was nothing. No clicks, no nothing. My thoughts, as I know the drive is electric, could there be corroded terminals in the shifter? Since everything failed at the same time that is. Would I lose forward and reverse nearly simultaneously for some other reason. How do I trouble shoot this problem. What type of cost should I plan for? Did I miss something? I did notice that pulling to button (not sure of the name) on the shifter that is never operated properly. She would start regardless of the buttons position and regardless of whether she was in gear or not. That's why I was thinking electrical in the shifter. Any input would be greatly appreciated!