diff --git a/gunicorn/app/wsgiapp.py b/gunicorn/app/wsgiapp.py
index c4911a2f..632fdcf7 100644
--- a/gunicorn/app/wsgiapp.py
+++ b/gunicorn/app/wsgiapp.py
@@ -22,9 +22,4 @@ class WSGIApplication(Application):
         sys.path.insert(0, os.getcwd())
 
     def load(self):
-        try:
-            return util.import_app(self.app_uri)
-        except:
-            print "Failed to import application: %s" % self.app_uri
-            traceback.print_exc()
-            sys.exit(1)
+        return util.import_app(self.app_uri)
diff --git a/gunicorn/arbiter.py b/gunicorn/arbiter.py
index ddf32f75..5976357c 100644
--- a/gunicorn/arbiter.py
+++ b/gunicorn/arbiter.py
@@ -24,7 +24,12 @@ class Arbiter(object):
     kills them if needed. It also manages application reloading
     via SIGHUP/USR2.
     """
-    
+
+    # A flag indicating if a worker failed to
+    # to boot. If a worker process exist with
+    # this error code, the arbiter will terminate.
+    WORKER_BOOT_ERROR = 3
+
     START_CTX = {}
     
     LISTENER = None
@@ -322,10 +327,16 @@ class Arbiter(object):
         try:
             while True:
                 wpid, status = os.waitpid(-1, os.WNOHANG)
-                if not wpid: break
+                if not wpid:
+                    break
                 if self.reexec_pid == wpid:
                     self.reexec_pid = 0
                 else:
+                    # A worker said it cannot boot. We'll shutdown
+                    # to avoid infinite start/stop cycles.
+                    exitcode = status >> 8
+                    if exitcode == self.WORKER_BOOT_ERROR:
+                        raise StopIteration
                     worker = self.WORKERS.pop(wpid, None)
                     if not worker:
                         continue
@@ -380,7 +391,9 @@ class Arbiter(object):
             except SystemExit:
                 raise
             except:
-                self.log.exception("Exception in worker process.")
+                self.log.exception("Exception in worker process:")
+                if not worker.booted:
+                    sys.exit(self.WORKER_BOOT_ERROR)
                 sys.exit(-1)
             finally:
                 self.log.info("Worker exiting (pid: %s)" % worker_pid)
diff --git a/gunicorn/workers/base.py b/gunicorn/workers/base.py
index 5bd31ea9..cf2d52d4 100644
--- a/gunicorn/workers/base.py
+++ b/gunicorn/workers/base.py
@@ -33,7 +33,8 @@ class Worker(object):
         self.app = app
         self.timeout = timeout
         self.cfg = cfg
-        
+        self.booted = False
+
         self.nr = 0
         self.alive = True
         self.spinner = 0
@@ -94,6 +95,7 @@ class Worker(object):
         self.wsgi = self.app.wsgi()
         
         # Enter main run loop
+        self.booted = True
         self.run()
 
     def init_signals(self):