95 Taurus won't start and run

A friend has a 95 Taurus 3.0 that when he releases the key from start to run the car dies. He can turn the key to start again and it will start again and then die when the key is released to run. Any idea's?

Bad ignition switch on the steering column. At least, that's where I'd put my money.

There is still 12V at the coil when the switch is in the run position so he doesn't think it is the switch.