Could not launch console app with xCode 4.4
===

I have a project with two targets -- an iOS app and an OSX console app.  The latter was created using Xcode File->New Target and selecting "Command Line Tool".  This console app is used to prep a default database needed by the iOS app -- using CoreData.   This has been working fine until I upgraded to Mountain Lion and xCode 4.4.  Now when I try to run the command line tool I get a "Could Not Launch -- permission denied" error.  I have tried playing around with signing certificates, to no avail.  Interestingly if I create a new "hello, world" command line tool in a new project it works just fine -- and it is not signed at all.

I checked the file and it has -rwxr-xr-x permission.  In the debugger the app fails on startup even before it tries to access the moms.  If I try to run this outside of the debugger at the command line, it ends with a kill 9 message.

Any ideas would be greatly appreciated.