this usually indicates the port is faulty (bad; not working; will not work)
this may have been set via the POST of the device. the internal tests failed and the port was marked FAULTY.
this could also be the result of a good port simply went bad for some unknown reason.
try to disable/reEnable the port. will probably still say faulty. (cannot initialize a faulty port)
try to reset the blade the port is on, or the supervisor if it resides on that.
do a "show test" (catOS) to see what the POST found when it did its powerOnSelfTests.
i've seen plenty of FAULTY ports and 99% of the time, the port is simply bad and must be replaced. (usually an ASIC or the likes)
