Comment 15 for bug 724569

I got this bug after update to
Linux 2.6.38-11-generic #48-Ubuntu SMP Fri Jul 29 19:02:55 UTC 2011 x86_64 x86_64 x86_64 GNU/Linux

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The workaround:
boot in recovery mode then
sudo vi /etc/modprobe.d/blacklist.conf
add line:
blacklist intel_ips

finally reboot
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More info:
$modinfo intel_ips
filename: /lib/modules/2.6.38-11-generic/kernel/drivers/platform/x86/intel_ips.ko
description: Intelligent Power Sharing Driver
author: Jesse Barnes <email address hidden>
license: GPL
srcversion: 02AAC1023E865612266D5FA
alias: pci:v00008086d00003B32sv*sd*bc*sc*i*
depends:
vermagic: 2.6.38-11-generic SMP mod_unload modversions