In fact, I just tried to do /sbin/init and gave me 'no such file or directory'. I think I'm confused. I can see it in the directory, I can display the contents, but it won't run (and I did a chmod 755).

I guess that it is finding the script, but it doesn´t find the shell which is stated in the (first) "#!" line of the script. The error message doesn´t state which file it doesn´t find, and is not really helpful as a result. But in the case of shell scripts (also perl, tcl, ...) it is always good to check if the script file exists (in the dir where it is expected), if it is executable, and if the interpreter given in the first line (/bin/bash, usr/bin/perl or something like that) exists and is executable. If either the script or the interpreter does not exist, the error message usually is "permission denied" though.

cu,
sven