Reinstall took care of this.

I found a few questions on the Intenet forums about the situation like this, that happened to some other people. Most of them stay unanswered.

I found one suggestion from Microsoft employee that it might be caused by closing the IDE without saving the project first. He suggested to remove class(es) from the project and recompile it, then add the classes back. But it did not apply, as even a brand new project could not be compiled.

So I assume nobody knows what the reason is , even Microsoft. :)

>Hi All,
>
>Strange thing happened in a couple of weeks after the installation. :) Suddenly VB.Net refuses to compile anything, even the brand new default project with one empty class that you create from the menu/New/Project.
>
>The exact output is:
>
>

>------ Build started: Project: ClassLibrary2, Configuration: Debug .NET ------
>
>Preparing resources...
>Updating references...
>Performing main compilation...
>Building satellite assemblies...
>Satellite assemblies could not be built because the main project output is missing.
>
>
>---------------------- Done ----------------------
>
>    Build: 0 succeeded, 1 failed, 0 skipped
>

>
>I can do the same on another PC with no problems for sure.
>I could not find any references anywhere to the error message:
>"Satellite assemblies could not be built because the main project output is missing."
>
>Anybody knows the reason and fix other than complete reinstall of .Net?