This problem came out of the blue .  I was in the driveway running the engine to warm it up for an oil change and was  listening SOCAL Approach...nothing better to do .  Radio working fine and squelch could be turned up and down no problem .  My Microair has a green lite that comes on when the squelch is turned up .  Shut down  , changed oil and tugged the AC back into the workshop .  I had been having trouble with the fuel gauge bouncing around and knew it was just a loose connection . Tilted the panel found the loose connection .  As I always do I power up the panel and check that everything is working .  This time my green squelch lite is on and I can not turn it off with the squelch knob  ?  I know what you are thinking...another loose connection .  I went thru everything and found nothing .  If I remove the coax antenna connection from the back of the radio the lite goes out .  OK...maybe the radio ?  I have a spare radio and put that in only to find the same problem with the squelch .  Bad coax connector ?  Replaced it .  Same result .  Have a spare antenna and premade coax and attached it to the radio .  Works 4.0 ?  
Now I start to work down to the AC antenna .  I disconnect the coax from the AC antenna and attach it to the spare antenna .  Works 4.0 ?  Must be a bad ground on the AC antenna .  Removed the AC antenna cleaned all the attach screws , mounting holes and the skin inside the AC and the doubler mounting plate .  Put it all back together and can not get the squelch lite to go out ?   If Mr. Wizard is out there tell me what I am missing !
RB   
