could not locate executable, bailing out... failed
 

tried to start
/etc/rc.d/init.d/postgresql start
But has received
Checking postgresql installation: starting postgresql service: FindExec: invalid binary "/usr/bin/postgres"
Fatal 1:/usr/bin/postmaster: could not locate executable, bailing out... failed

if its an rpm based distro you can try "rpm -V postgresql" or what ever the package is called
it will return any file that has been modified since its installation. If its all still the same then it wont return anything.

try uninstalling and reinstall the postgresql package if that doesn't return anything