in the network initialization script 'ifup', there is a typo:

original file:

if [ "${PEERDNS}" = "no" ]; then
	PUMPARGS="${PUMPARGS} -d"
	DHCPDARGS="${DHCPDARGS} -R"
fi

should be:

if [ "${PEERDNS}" = "no" ]; then
	PUMPARGS="${PUMPARGS} -d"
	DHCPCDARGS="${DHCPCDARGS} -R"
fi

I couldn't figure out where PEERDNS should be set to "no", so I just put 
it in /etc/sysconfig/network-scripts/ifcfg-eth0

This bug will cause problems for users which wish to retain their 
/etc/resolv.conf file, while they are using dhcpcd.

Michael S. Perkins
Houston