BUG #5267: initdb fails on AIX: could not identify current directory

The following bug has been logged online:

Bug reference:      5267
Logged by:          Michael Felt
Email address:      mamfelt@gmail.com
PostgreSQL version: 8.4.2
Operating system:   AIX
Description:        initdb fails on AIX: could not identify current
directory
Details:

I have compiled postgresql on AIX 6.1 without a great deal of difficulity
(./configure -without-readline -without-zlib).

However, the fist step - initdb - fails. I have not been able to determine
which directory it is complaining about.

Suggestions welcome.
========
michael@x054:[/data/home/michael]su - postgres
postgres@x054:[/home/postgres]/usr/local/pgsql/bin/initdb -D
/usr/local/pgsql/data
could not identify current directory: The file access permissions do not
allow the specified action.
could not identify current directory: The file access permissions do not
allow the specified action.
could not identify current directory: The file access permissions do not
allow the specified action.
The program "postgres" is needed by initdb but was not found in the
same directory as "initdb".
Check your installation.
postgres@x054:[/home/postgres]ls -l /usr/local/pgsql/bin
    total 18744
-rwxr-xr-x    1 root     system        79898 Jan 05 13:33 clusterdb
-rwxr-xr-x    1 root     system        79554 Jan 05 13:33 createdb
-rwxr-xr-x    1 root     system        79732 Jan 05 13:33 createlang
-rwxr-xr-x    1 root     system        82515 Jan 05 13:33 createuser
-rwxr-xr-x    1 root     system        76661 Jan 05 13:33 dropdb
-rwxr-xr-x    1 root     system        82087 Jan 05 13:33 droplang
-rwxr-xr-x    1 root     system        76613 Jan 05 13:33 dropuser
-rwxr-xr-x    1 root     system       686273 Jan 05 13:33 ecpg
-rwxr-xr-x    1 root     system       101041 Jan 05 13:33 initdb
-rwxr-xr-x    1 root     system        37341 Jan 05 13:33 pg_config
-rwxr-xr-x    1 root     system        31437 Jan 05 13:33 pg_controldata
-rwxr-xr-x    1 root     system        52157 Jan 05 13:33 pg_ctl
-rwxr-xr-x    1 root     system       392643 Jan 05 13:33 pg_dump
-rwxr-xr-x    1 root     system       103892 Jan 05 13:33 pg_dumpall
-rwxr-xr-x    1 root     system        46554 Jan 05 13:33 pg_resetxlog
-rwxr-xr-x    1 root     system       186965 Jan 05 13:33 pg_restore
-rwxr-xr-x    1 root     system      6842028 Jan 05 13:33 postgres
lrwxrwxrwx    1 root     system            8 Jan 05 13:44 postmaster ->
postgres
-rwxr-xr-x    1 root     system       388374 Jan 05 13:33 psql
-rwxr-xr-x    1 root     system        82335 Jan 05 13:33 reindexdb
-rwxr-xr-x    1 root     system        47359 Jan 05 13:33 vacuumdb
postgres@x054:[/home/postgres]ls -l .
total 0
postgres@x054:[/home/postgres]ls -la .
total 24
drwxr-xr-x    2 postgres staff           256 Jan 05 13:45 .
drwxr-xr-x   31 bin      bin            4096 Jan 05 13:44 ..
-rwx------    1 postgres staff           254 Jan 05 13:44 .profile
-rw-------    1 postgres staff           884 Jan 05 18:38 .sh_history
postgres@x054:[/home/postgres]mkgroup postgres
ksh: mkgroup: 0403-006 Execute permission denied.
postgres@x054:[/home/postgres]
michael@x054:[/data/home/michael]mkgroup postgres
michael@x054:[/data/home/michael]chuser pgrp=postgres postgres
michael@x054:[/data/home/michael]chgrp postgres /usr/local/pgsql/data
michael@x054:[/data/home/michael]su - postgres
postgres@x054:[/home/postgres]id
uid=2010(postgres) gid=2013(postgres) groups=1(staff)
postgres@x054:[/home/postgres]/usr/local/pgsql/bin/initdb -D
/usr/local/pgsql/data
could not identify current directory: The file access permissions do not
allow the specified action.
could not identify current directory: The file access permissions do not
allow the specified action.
could not identify current directory: The file access permissions do not
allow the specified action.
The program "postgres" is needed by initdb but was not found in the
same directory as "initdb".
Check your installation.
postgres@x054:[/home/postgres]ls -ld /usr
drwxr-xr-x   43 root     system         4096 Jan 05 13:40 /usr
postgres@x054:[/home/postgres]ls -ld /usr/local
drwxr-xr-x   19 root     system         4096 Jan 05 13:32 /usr/local
postgres@x054:[/home/postgres]ls -ld /usr/local/pgsql
drwxr-xr-x    7 root     system          256 Jan 05 13:45 /usr/local/pgsql
postgres@x054:[/home/postgres]ls -ld /usr/local/pgsql/data
drwxr-xr-x    2 postgres postgres        256 Jan 05 13:45
/usr/local/pgsql/data
postgres@x054:[/home/postgres]ls -ld /usr/local/pgsql/bin
drwxr-xr-x    2 root     system         4096 Jan 05 13:33
/usr/local/pgsql/bin
postgres@x054:[/home/postgres]/usr/local/pgsql/bin/initdb -D
/usr/local/pgsql/data
postgres@x054:[/home/postgres]