Running bundle exec rake fulcrum:setup db:setup gives the error:
(See full trace by running task with --trace)
Adding the following gems resolves the issue.
Run bundle install after adding them. Here is link
Best solution would be to install nodejs. therubyracer is problematic, and I won't be adding it to the project Gemfile.
I'll leave this open as a note to document that a working nodejs install is required.
if you are running an older ubuntu like 10.04 you will have to do the fallowing to install nodejs:
sudo git clone git://github.com/ry/node.git
sudo make install