[captainclock1988]

Cap,

Since your power switch is a volume regulator/power switch assembly, you have two options:

1. Take it out, open the resistor and try to clean and lube the switch. I do not know how cleaning-friendly the 116B switch is but it's worth a try.
2. Go to Mark Oppat who restores/sells replacements for the power switch/volume control pots.

Mike

Howdy Mike,

I already cleaned and lubed the switch 3 or 4 times already and it fixed it temporarily and it started acting up again, so I think trying to fix the switch on this thing is out of the question. 
I'm working on sending Mark Oppat a message complete with pictures of the switch I need so I can hopefully get a new switch assembly, and all I need is the power switch assembly as the volume control part works just fine yet.

As for how easily the power switch on this radio is to service, its not very easy to service as there aren't any external openings to use for spraying cleaner and lubricant into the switch with, you have to take the whole switch assembly off the volume control pot assembly and then access the switch from "inside" the switch (the side of the switch assembly that butts up against the back of the volume control pot).

So as of right now my only option is to just replace the switch and be done with it.