I've never had one come out. Use a two part epoxy like Devcon 2-Ton. The crane swivel does turn but its not meant to spin. That much of the swivel protruding is needed to clear the blade away from the bait. I use a drill press but I have also put them in a vice and drilled by hand. They really aren't that time consuming. Like I mentioned, you wouldn't want to do 100 like this, but to do 10 for yourself, its 10-15 minutes.
Marc