Kernel can not boot after upgrade on Fedora OS 15.

Hello, everyone.
I am using Fedora 15, and want to upgrade to version 16. I follow the official link Upgrading Fedora using yum - FedoraProject to upgrade my OS by the following command:

yum update kernel* --releasever=16
yum groupupdate Base  --releasever=16
reboot

After reboot, OS can not start, and just print the following message on screen

could not start boot splash: No such file or directory 

, and screen does not print other type of message.
I have installed many software on my previous OS, and I don't want to format my system partition. How to bring fedora back to life without reinstall OS ? Reinstall OS means I have to install many software and do much configuration. It's a waste of time.

You must boot your machine with rescue mode.
1- boot with fedora cd.
2- write "linux rescue"
3- run "chroot /mnt /sysimage "
After than you can control your kernel command with

#cat /boot/grub/grub.conf

I wish you didn't use update command If you used only install command you can see old and new kernel version. I think you have only one kernel version.
at grub.conf file "default" parameter is your currently running kernel version.

You try to run ssh or telnet command. If your ssh or telnet is running and if you know your old kernel version. You download your kernel rpm file and copy it to your machine by another linux machine with scp command. Install your kernel using with

#rpm -ivh kernelxxxxx.rpm

After installation you can see installed kernel into the /boot/grub/grub.conf
You can set as default new kernel using default parameter 0 or 1.
If you delete # character near of the hiddenmenu. You can see all kernel and you can choose desired kernel.

If those where the actual commands you used to upgrade your system, I suspect that you did not follow the upgrade instructions correctly. You should have sync'ed the distro using

yum --releasever=16 --disableplugin=presto distro-sync 

It looks like the grub splash file is missing. Since you upgraded from F15, you should still be using GRUB legacy, Simply use a rescue disk to edit your /boot/grub/grub.conf (or menu.lst) file and comment out the line for the splash screen.