When running ntpd directly as suggested, this doesn't work either on my N900. I get the error message "fatal: stat: No such file or directory" in /var/log/syslog. However "/etc/init.d/openntpd start" works.
# Start openntpd /etc/init.d/openntpd start # Run ntpd in foreground (not as daemon) ntpd -d
sudo gainroot cd /usr/sbin/ cp /home/user/MyDocs/ntpd.sh.txt ntpd.sh chmod 755 ntpd.sh
sudo gainroot ntpd.sh