Error while trying to run update_prebinding

[MacBandit]

So I wanted to run the update_prebinding command just for the hell of it. Some of my apps seem to be taking too long to load.

So I input the command and it starts and then it spits out this error.

2003-05-01 23:57:33.391 update_prebinding[423] Start of update_prebinding
2003-05-01 23:57:33.400 update_prebinding[423] *** Uncaught exception: <NSInvalidArgumentException> [NSPlaceholderString initWithUTF8String:]: NULL cString
Trace/BPT trap

What's it trying to tell me? What's wrong?