<VV> Houston - we have a problem!!! Corvair related

[Roger Atkinson]

Okay.  I am trying to calm down but am nervous to say the least.  Took the Spyder out a little while ago to get some lunch.  Nice day here so thought it would be nice for me and the wife to take it out.   We got about 5 miles down the road and I looked in my rear view mirror  and there was smoke coming from the engine compartment.  Looked at my dash and the GEN light was bright red.  I immediately turned the engine off and coasted to a stop.  I got out and checked the engine compartment and sure enough the belt had come loose.  I just checked it yesterday and it had very little play.  I didn't have any tools with me so I had a tow truck bring it home.  

My question is this? Did I damage my motor? Why would the belt have come loose if it was tight yesterday?  What should I do now?  I called the guy I bought ti from to get some advice but couldn't reach him so I am asking you guys.

Roger