I\'m running Ruby 1.9.1p243 on CentOS, and I decided to install rvm to handle upgrading to 1.9.2 or downgrading to 1.8.7 (whichever turns out to work better for rails3).
Just came across the same problem.
Instead of appending the following script to ~/.bash_profile, append it to ~/.bashrc:
[[ -s "$HOME/.rvm/scripts/rvm" ]] && . "$HOME/.rvm/scripts/rvm" # This loads RVM into a shell session.
And then restart the terminal.