Veritas Private Branch Exchange fail to start with "The Veritas Private Branch Exchange service terminated with service-specific error 22 (0x16)" due to missing or incorrect localhost entry

Problem

Veritas Private Branch Exchange fail to start with "The Veritas Private Branch Exchange service terminated with service-specific error 22 (0x16)" due to missing or incorrect localhost entry in the host file

Error Message

Event Logs:
The Symantec Private Branch Exchange service terminated with service-specific error 22 (0x16)

Error in pbx logs:
2,50936,103,103,1,1331063024887,7004,7008,0:,115:ACE_Service_Config directive: "static PBX_Manager ' -debuglevel 10 -authuser localsystem -outside 1556 -insecure '",0:,0,(0|)
2,50936,103,103,2,1331063024902,7004,7012,0:,60:PBX_Manager::open, Cannot initialize the reactor. Exiting...,0:,2,(0|)

Error seen running pbx_exchange from command line:
ACE_Select_Reactor_T::open failed inside ACE_Select_Reactor_T::CTOR: The requested address is not valid in its context.
(%P|%d) ERROR:  Could not start the service in %s(%d).
: The requested address is not valid in its context.

Cause

This issue was caused due to a missing or incorrect localhost entry in the host file.  For example:

127.0.0.1 locahost

Solution

Review your hosts file on your machine and verify the localhost entry is correct.