If newsyslog for a collection of logfiles takes too long, this might happen:
bzip2: I/O or other error, bailing out. Possible reason follows.
bzip2: No such file or directory
Input file = /var/log/security.0, output file = /var/log/security.0
newsyslog: `bzip2 -f /var/log/security.0' terminated with a non-zero status
reason: while bzip2 tries to compress the logfile, the files are
rotated around and newsyslog or bzip2 get confused.