Ok, so this just happened to me. What I think ultimately caused it in my 
case is the OS hung on shutdown, so I had to hard-power-off the board with 
the power button. When it came back up, no network :/ Connected via the 
serial terminal and was seeing the same things as others had reported. I 
have a rev. C board, and this was the first problem I've had with it, 
running 24x7 since it arrived back in July :)

Linux envmon 3.8.13-bone47 #1 SMP Fri Apr 11 01:36:09 UTC 2014 armv7l

>From what I gleaned from what some folks commented a few posts above, this 
is what I did, and so far it seems to have worked for me:

 - Logged in as root to the board via the serial terminal
 - ran the command "init 1" to take the OS into emergency maintenance mode. 
(I wanted to be in single-user mode because of what I was about to do.)
 - Once there, I pressed the reset button on the board once.

When the board rebooted, I had network again :)

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