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Thinking I had maybe stumbled on a bug, I down loaded and tried to compile transcode-0.6.10. I came up with the same error. The link to the forum for transcode is not working so I figure I would post it here.
Thanks to all. I figured out the problem. When I compiled libtool last night I did not notice the configure error. essentially the configure script did not like the fact the directory where it was in was named "Video editing" I renamed the directory Video.editing and all is well.
Feel like an idiot or was too tired when I was trying to trouble shoot.