OK, while I am not running Ubuntu, I ran into a similar issue and as it turned out for me the problem was in the vmware-watchdog script; it was looking for setsid tool which I didn't have on my system so it kept on dying. Installing util-linux-ng helped.
Now this shouldn't really be a problem on most ubuntu systems but, a way to trace YOUR problem may be to remove the redirection to /dev/null from /etc/init.d/vmware-mgmt script around line 905 ...
Specifically the line that says:
Should be replaced by
$watchdog -s webAccess -u 30 -q 5 "$webAccess $webAccessOpts start" > /dev/null 2>&1 &
You can then examine /tmp/webaccess.log to see what's actually going on
$watchdog -s webAccess -u 30 -q 5 "$webAccess $webAccessOpts start" > /tmp/webaccess.log 2>&1 &
Hope this helps.