http://groups.google.com/group/sci.electronics.repair/browse_thread/thread/d8e5eafc65080f7/b8fce4b3f677a23d%23b8fce4b3f677a23d?sa=X&oi=groupsr&start=2&num=3
The cam responsible for ejecting the tape is stuck. Unplug the unit and unscrew the back from the front. On the bottom right of the VCR housing, you'll see the tape around the drum; gently loosen it from the drum so the cassette can leave the unit with the tape.
On the left, you'll see a tiny motor on a pulley to a disc; these are above the giant white gear-cam. With your finger, rotate the disc clockwise until the tape ejects. Do not attempt to turn the gear-cam itself. The tape will eject.
Screw the rear case back on. You're done.
Andrew, December 2005