Thanx. I finally got it working with the following code.

use POSIX qw(:sys_wait_h);
use IO::Socket;
use DBI;

$port=7272;

$pid = fork;
exit if $pid;
die "Couldn't fork: $!" unless defined($pid);

POSIX::setsid() or die "Can't start a new session: $!";

$time_to_die=0;

sub signal_handler{
    $time_to_die=1;
}

sub REAPER{
    1 until (-1 == waitpid(-1, WNOHANG));
}

$SIG{INT} = $SIG{TERM} = $SIG{HUP} = \&signal_handler;
$SIG{CHLD} = \&REAPER;

$file="syncd.log";
open(LOG, ">>$file");
print LOG "Program Started : ".localtime()."\n";
until ($time_to_die){
    ### Debug statement (uncomment to debug to log file)
    #print LOG "Until Loop\n";
    $sock = IO::Socket::INET->new(LocalPort => $port, 
                                  Type => SOCK_STREAM,
                                  Reuse => 1,
                                  Listen => 25,
                                  Timeout => 120) or die "Couldn't be 
+a tcp server on port $port : $@\n";
    while($new_sock = $sock->accept()) {
        ### Debug statements (uncomment to debug to log file)
        #print LOG "While Loop\n";
        #print LOG "Inside While new_sock Status: ".$new_sock."\n";
        next if $child = fork;
        die "child fork: $!" unless defined $child;
        $sock->close;
        login($new_sock);
        exit 0;
    }
    close($sock);
    ### Debug statement (uncomment to debug to log file)
    #print LOG "Outside While new_sock Status: ".$new_sock."\n";
    if($new_sock!=$sock->accept()){
        report_crash();
        respawn_syncd();
        print LOG "Socket is Undefined Program Crashed to prevent infi
+nite loop!\n";
        $time_to_die=1;
    }
}
close(LOG);
[download]

Again thanx for the help. If you think I should have done it some other way let me know and I re-evaluate my code. I would hate to have a badly coded program because they only cause headaches later.