Re: FC 16 kernel update problem
You should be able to boot without an initramfs, as long as there's no line for it in grub.cfg. If there is, you can edit the menu item at boot to remove it. (Only for this boot, of course.)
If that doesn't work, or you'd rather not try it, here's something you can do from a CLI as root, assuming you have Internet access.
yum list installed kernel
This will give you a list of all kernels installed.
yum remove kernel.x.y.z
Where .x.y.z specifies the newest kernel; the one you're having trouble with. (You may not need to list the kernels first if you know exactly which one you want to remove, but it's always best to check anyway.)
yum update kernel
If all goes well, this will clear things up. If you want to get rid of all installed kernels except the one you're currently using,
yum remove kernel
will do it because yum won't even try to remove the running kernel. Once you've gotten that done, you may consider installing kmod-nvidia instead of using the binary blob, so that you won't have to remember to reinstall it every time there's a kernel update.
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