Actually, if there is no Makefile, make will say "make: *** No targets specified and no makefile found. Stop." Error 127 means that the Makefile tried to execute a command that it couldn't find. Either it isn't in your path, or more likely, the command wasn't installed on your system. Check to make sure you have the gcc compiler and various development tools installed. I usually install most of the development tools except perhaps Fortran.
