new binutils causes all kinds of link problems

I've noticed that ld works differently now.  Before, if you link with a
shared library it will pull in that library and all the libraries the
shared library was linked with.  Now, that isn't the case.

For instance, if you link with libintl.so it now complains about

/usr/bin/ld: warning: libiconv.so.3, needed by
/usr/local/lib/libintl.so, not found (try using -rpath or -rpath-link)

ldd shows

server# ldd /usr/local/lib/libintl.so
/usr/local/lib/libintl.so:
        libiconv.so.3 => /usr/local/lib/libiconv.so.3 (0x200925000)

yet ldconfig shows it knows about it:

server# ldconfig -r | grep libiconv
        344:-liconv.3 => /usr/local/lib/libiconv.so.3

This was during configure of a gnome package

configure:2642: cc -O -pipe -g  -I/usr/local/include -L/usr/local/lib
-lintl conftest.c  >&5

Cheers,
Sean