Today I had to install PowerCLI on my workstation. When I tried launching it for the first time, it simply opened and closed again instantly. After browsing the VMware community for this error and not finding a useful solution, I ended up googling the error. As it turns out, this only happens when you did set the " Number of recent items to display in jump lists" to something less than 4.

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(http://social.technet.microsoft.com/Forums/en/winserverpowershell/thread/ecf0a798-46d5-4925-8174-4f47dd5d332e) to something greater than 4, it just works. This appears to be a Powershell bug.