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A bit more information would help. I'm assuming it's electric start. If so, is the battery up? When you hit the start button, does the starter turn? If not, check the battery cables, make sure they are clean and tight. If it is, is it engaging the ring gear on the flywheel and turning the engine? If the solenoid isn't working, with starter will spin without turning the engine over. You could also have a couple of broken teeth on the ring gear and get the same results.
You say "no compression". Are you sure? You can turn most engines over by hand even at normal compression, if you turn slowly enough. Pull the spark plugs and see if it turns easier. Put your finger over a plug hole and see if you feel compression when turning it over.
I'm assuming the 240 is a late version of a C. If that assumption is correct, then the camshaft is gear driven from the crank. The only way I'm aware of to have a COMPLETE loss of compression is if the cam isn't turning, and even then, at least ONE cylinder should have both valves closed and have compression. (Of course, if the crank isn't turning, you'd get the same symptoms) Check these things and get back to us, with more info we can come up with more things to check.
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