# yum install createrepo
Warning, could not load sqlite, falling back to pickle
Setting up Install Process
Setting up repositories
file://var/yum_rpm/repodata/repomd.xml: [Errno 5] OSError: [Errno 2] No such file or directory: '/yum_rpm/repodata/repomd.xml'
Trying other mirror.
Cannot open/read repomd.xml file for repository: myrepo
failure: repodata/repomd.xml from myrepo: [Errno 256] No more mirrors to try.
Error: failure: repodata/repomd.xml from myrepo: [Errno 256] No more mirrors to try.

# cat /etc/yum.conf
[main]
cachedir=/var/cache/yum
keepcache=0
debuglevel=2
logfile=/var/log/yum.log
distroverpkg=redhat-release
tolerant=1
exactarch=1
obsoletes=1
gpgcheck=1
plugins=1
bugtracker_url=http://bugs.centos.org/yum5bug
# Note: yum-RHN-plugin doesn't honor this.
metadata_expire=1800
installonly_limit = 5
[myrepo]
name=RHEL 4 $releasever - $basearch
baseurl=file://var/yum_rpm
enabled=1

# cat /etc/yum.repos.d/rhel-debuginfo.repo
[rhel-debuginfo]
name=Red Hat Enterprise Linux $releasever - $basearch - Debug
baseurl=ftp://ftp.redhat.com/pub/redhat/linux/enterprise/$releasever/en/os/$basearch/Debuginfo/
enabled=0
gpgcheck=1
#gpgkey=file:///etc/pki/rpm-gpg/RPM-GPG-KEY-redhat-release

# ls -l /var/yum_rpm/*.rpm | wc -l
1583

# grep baseurl /etc/yum.conf
baseurl=ftp://ftp.redhat.com/pub/redhat/linux/enterprise/4/en/os/i386/Debuginfo/

# yum install createrepo
Warning, could not load sqlite, falling back to pickle
Setting up Install Process
Setting up repositories
ftp://ftp.redhat.com/pub/redhat/linu...ta/repomd.xml: [Errno 4] IOError: [Errno ftp error] 550 Failed to change directory.
Trying other mirror.
Cannot open/read repomd.xml file for repository: myrepo
failure: repodata/repomd.xml from myrepo: [Errno 256] No more mirrors to try.
Error: failure: repodata/repomd.xml from myrepo: [Errno 256] No more mirrors to try.