I have the same problem as yours. I have a Fedora 15 Linux. I did not do anything particular except for running "yum update" once. Somehow the new kernel does not work afterwards.
Thanks to your post, I was able to fix this problem along the same lines:
1. Get/burn an installation CD with a linux system.
2. Booted from this CD (may need to press F12 (or other key) to choose
3. Mount the old file system on, I use:
$ mount -t ext4 /dev/sda1 /mnt
4. In ROOT account, went to my boot volume (at /mnt/boot/grub) and
edited "grub.conf" so that (A) I would see the menu and (B) it would
give me a few seconds to choose and option:
5. Rebooted (from the hard disk this time).
6. Chose the second kernel (not the most recent broken one).
7. It worked!
8. So, then I went back to grub (now at "/etc/grub.conf", which is
soft linked to "/boot/grub/grub.conf") and edited it to comment out
(or remove) the lines relating to the broken kernel:
# title Fedora (2.6.40-4.fc15.i686)
# root (hd0,0)
# kernel /vmlinuz-2.6.40-4. ......
I noticed this stanza does not have "initrd ..." line. Maybe that's why it
Further information for fixing this error is located here: