The script rc.sysinit writes to the hardware clock at boot time. On a workstation which does not use the network to set its clock, this results in incorrect system time after every boot. Resetting the hardware clock should not be the default in rc.sysinit! The fix is to comment out one line in rc.sysinit. Put '#' in front of '$CLOCK --adjust'. I will also post a patch to rc.sysinit.
the hwclock --adjust call was removed in initscripts-4.22.