What's busted that would allow this:
 

'88 targa, nothing wrong with transmission/shifting/noises etc. just a wiggly shift rod (?)

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That looks like a blown G50 shifter bushing- the part pressed into the lower portion of the shifter housing that the shift rod goes through.

See large left side conical black bushing in this photo.

https://www.pelicanparts.com/More_Info/JWSTG50BUSH.htm?pn=JWST-G50-BUSH

This happened to me when all of a sudden tons of slop hit the shifter like something failed. Got a great tip here on re-installation if the shift rod that’s in my post history or I’ll find if this is it.


Good luck

Found it...Thanks!

http://forums.pelicanparts.com/porsche-911-technical-forum/1008643-g50-flanged-shifter-bushing-how-press.html

Sure thing- just remember that the bentley pic is backwards (or actually upside down) - the notch goes (at least I certainly believe and oriented it this way) at the bottom - as this allows you to get the rod started.