I am sure that Stew can point us to a better solution, but I got tired of my time getting set wrong after a reboot (this was a problem in Mandrake 8.2 as well). So I added the following to the end of my /etc/rc.d/rc.local
I still have some problem with system time (was first blocked at 1904, now get stuck in 1970, and I don't remember why it changed ...)
Best,
Olivier
/sbin/hwclock -s
That grabs the time from the hardware clock, and shoves it into the system time.
I hope this helps,
Craig...