bug#2512: 23.0.91; /bin/sh related error in 'make bootstrap'

Hello!

When building GNU Emacs after an update today, the *compilation*  
buffer showed:

	Writing LC_SYMTAB command
	Fixed up 1/1 external relocation entries in data segment.
	Writing LC_DYSYMTAB command
	Writing LC_TWOLEVEL_HINTS command
	Writing LC_UNIXTHREAD     command
	1312 unused bytes follow Mach-O header
	1252581 pure bytes used
	Adding name emacs-23.0.91.1
	ln -f emacs bootstrap-emacs
	./emacs -q -batch -f list-load-path-shadows
	Um 2009-02-28 12:19:08 pete Uhr wird /Library/Application Support/ 
Emacs/site-start.el geladen
	/Library/Application Support/Emacs/site-start.el
	(Tipp von Kai G) Lade jetzt: auctex.el
	(Tipp von Kai G) Lade jetzt: preview-latex.el
	site-start.el Zeile 274
	This site has duplicate Lisp libraries with the same name.
	If a locally-installed Lisp library overrides a library in the Emacs  
release,
	that can cause trouble, and you should probably remove the locally- 
installed
	version unless you know what you are doing.
	
	...
	
	9 Emacs Lisp load-path shadowings were found
	/bin/sh: line 1: cd: src: No such file or directory
	make[2]: Nothing to be done for `all'.
	cd lisp; make all -k                           \

Mac OS X 10.4.11, GCC 4.0.1

--
Greetings

   Pete

How many Microsoft engineers does it take to screw in a light-bulb?
None.
They just redefine "dark" as the new standard.