Greg;
That's a dust shield for an unsealed bearing, and the grease did its hydraulic thing and pushed it out...while making a mess I'm sure...I too like Dean's wet tissue idea...I expect it will work better than the grease because the tissue cant simply make its way through the bearing openings...I too thank him for showing this old dog a new trick!
...and while were presenting methods and ideas...when I didn't have a sliding hammer handy, I've used two vice-grips, a long (junk)screw (whose head fits through the centerhole of bearing), and a hammer...VG1 holds the screw on the threads, and its head is inserted through hole and hooked behind bearing, VG2 clips onto VG1 at right angle behind adjustment knob, to give a striking surface, and hammer provides some tappy-tappy to extract bearing with impact...its quite rustic and Rube Goldbergesque, but was quick and effective...! I don't expect to see Edd China show off this technique any time soon...
A greasy wrench is a happy wrench!
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