Comment 38 for bug 358654

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Dmik (dmik-for-maillists) wrote :

Just got exactly the same problem after installing the batch of updates (accumulated for the 10 days of my absence) through Update Manager that included the latest generic kernel update. Only could solve this by running

  sudo update-initramfs -u -k 2.6.32-24-generic

while booting another kernel that was luckily installed along on the same machine and was not touched by the update. (Credits go to Audi200Q that published the solution at http://ubuntuforums.org/showthread.php?t=1567147).

I think this bug should be marked as Critical as it's definitely impossible for a non-geek person to solve it on his(er) own which makes their computer completely unusable until an Ubuntu expert with a boot CD is found.