Mount: "The disk drive for UUID=<uuid for /> is not ready yet or not present."

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http://askubuntu.com – I recently did the update from 12.04 to 12.10 on my old Dell Latitude CPx laptop (Pentium III). When I rebooted I got this error message with no response from keyboard input. Below it is says Wait to continue, press S to skip mounting, or M for manual recovery. I also see occasional errors pop up on the screen from mountall and Plymouth. I can still get into Recovery Mode. Can anyone shed some light on the matter? (HowTos)