Can you try running "hwclock --directisa" and see if that works? Also "dmesg | grep -i rtc" and "lsmod | grep rtc" outputs would be useful.
Thanks
** Changed in: linux-source-2.6.15 (Ubuntu)
Status: Unconfirmed => Needs Info
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ThinkPad X60: select() to /dev/rtc to wait for clock tick timed out
https://launchpad.net/bugs/43661
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