[gentoo-user] sed does not work on profile 2006.1

[Kerry]

When I try execute sed on Gentoo, I get "-bash: /usr/bin/sed:  No such file or 
directory" error message.  I tried installing binary version sed-4.1.5, and 
still the same result.  Here is the output of strace -f -F -v sed command:
execve("/usr/bin/sed", ["sed"], 
["MANPATH=/usr/local/share/man:/us"..., "HOSTNAME=salisbury.k12.mo.us", "TERM=xterm", "SHELL=/bin/bash", "SSH_CLIENT=64.123.230.201 
37491 "..., "QTDIR=/usr/qt/3", "SSH_TTY=/dev/pts/2", "USER=root", "LS_COLORS=no=00:fi=00:di=01;34:l"..., "PAGER=/usr/bin/less", "CONFIG_PROTECT_MASK=/etc/terminf"..., "MAIL=/var/mail/root", "PATH=/usr/local/sbin:/usr/local/"..., "PWD=/var/log", "EDITOR=/bin/nano", "QMAKESPEC=linux-g++", "KDEDIRS=/usr", "SHLVL=1", "HOME=/root", "PYTHONPATH=/usr/lib/portage/pym", "LESS=-R -M --shift 
5", "LOGNAME=root", "GCC_SPECS=", "CVS_RSH=ssh", "SSH_CONNECTION=64.123.230.201 
37"..., "LESSOPEN=|
lesspipe.sh %s", "INFOPATH=/usr/share/info:/usr/sh"..., "OPENGL_PROFILE=ati", "CONFIG_PROTECT=/var/bind /usr/sh"..., "_=/usr/bin/strace", "OLDPWD=/etc/init.d"]) 
= -1 ENOENT (No such file or directory)
dup(2)                                  = 3
fcntl(3, F_GETFL)                       = 0x8002 (flags O_RDWR|O_LARGEFILE)
fstat(3, {st_dev=makedev(0, 9), st_ino=4, st_mode=S_IFCHR|0620, st_nlink=1, 
st_uid=0, st_gid=5, st_blksize=1024, st_blocks=0, st_rdev=makedev(136, 2), 
st_atime=2007/09/13-09:08:42, st_mtime=2007/09/13-09:08:42, 
st_ctime=2007/09/10-15:15:08}) = 0
mmap(NULL, 4096, PROT_READ|PROT_WRITE, MAP_PRIVATE|MAP_ANONYMOUS, -1, 0) = 
0x2aaaaaac7000
lseek(3, 0, SEEK_CUR)                   = -1 ESPIPE (Illegal seek)
write(3, "strace: exec: No such file or di"..., 40strace: exec: No such file 
or directory
) = 40
close(3)                                = 0
munmap(0x2aaaaaac7000, 4096)            = 0
exit_group(1)                           = ?
Process 7407 detached

The following is the kernel and processor I am running:
Linux 2.6.12-gentoo-r6 #5 Thu Aug 18 07:56:24 CDT 2005 x86_64 AMD Athlon(tm) 
64 Processor 3000+ AuthenticAMD GNU/Linux

Is there something wrong with the environment?
Any help would be appreciated.

Thanks,
Kerry
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