These boot time errors popped up:

[   14.370565] fedora-readonly[526]: /etc/init.d/functions: line 58: /dev/stderr: No such device or address
[   14.794643] fedora-storage-init[706]: /etc/init.d/functions: line 58: /dev/stderr: No such device or address
[   16.754198] fedora-storage-init[901]: /etc/init.d/functions: line 58: /dev/stderr: No such device or address
[   17.622258] fedora-autoswap[915]: /etc/init.d/functions: line 58: /dev/stderr: No such device or address

I guess they are caused by recent changes to systemd and stdout/stderr logging so processes no longer inherit stderr and /dev/stderr -> /proc/self/fd/2 thus no longer exists.

initscripts-9.32-1.fc16.x86_64
systemd-35-1.fc16.x86_64