Basically you have 3 options:
1) This same issue was resolved in
this thread.
2) Assuming you have a maintenance contract with Red Hat, you can open a case with them.
3) Can you post your /etc/inittab file? That's the configuration file for the init process. If your machine is not booting AT ALL, you can always access that file using a LiveCD, for example.
Hope it helps. Please don't forget to mark this thread as solved if your question has been answered.