Holy christ, how old is your kernel?
So on reboot, the kernel can't find a filesystem on device dm-0. That's why you get the sync/init panic.
Tell us what you did right before this. Update the kernel? Change some hardware? Did you try one of the rescue kernels? Un-do whatever it is that you did, otherwise, you may have lost a hard disk :-/
The next step is to boot into rescue mode, and if possible, create an sosreport. If you have support through redhat (and you should if you're using a Red Hat product), and if it's RHEL4 or newer, you should call them. Work through the problem with a technician on the phone.
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