System stopped booting after updating from 'kernel-2.6.32-358.14.1.el6.x86_64' to 'kernel-2.6.32-358.18.1.el6.x86_64'

Issue

• Did normal reboot of system and it did not come back up. Went to console and see this on the screen. I tried booting from the older kernel package on the system but get the same error. (This trace is from the older kernel)

kernel panic - not syncing: Attempting to kill init!
id: 1, comm: init Not tainted 2.6.32-358.14.1.e16.x86_64

Call Trace:

[<ffffffff8150d668>] ? panic+0xa7/0x16f
[<ffffffff81073b02>] ? do_exit+0x862/0x870
[<ffffffff81182a05>] ? fput+0x25/0x30
[<ffffffff81073b68>] ? do_group_exit+0x58/0xd0
[<ffffffff81073bf7>] ? sys_exit_group+0x17/0x20
[<ffffffff8100b072>] ? system_call_fastpath+0x16/0x1b