Description of problem:
If someone takes a LiveCD and makes a LiveUSB key, and then later does a 'yum upgrade' or otherwise installs a new kernel into that environment, the initramfs created by mkinitrd does not contain the drivers needed to boot that environment again.
Now, livecd-tools did generate a usable initramfs, and had created the /etc/sysconfig/mkinitrd file. But it also _deleted_ it after being done with it.
I recommend we not delete that file, but leave it in the image.
Version-Release number of selected component (if applicable):
git head 8ddeb5380c41e9a65218bbd4e92cec8210255acf
Leaving it on the image instead, though, breaks installs from the live image as you'd then end up with a live initrd instead of the system one.
Bug 446935 is the overall "we should somehow make it so you can update the kernel on your live image" bug, so going to mark this a dupe of it
*** This bug has been marked as a duplicate of bug 446935 ***