for x in `find "${VM_HOME}/${NEW_FIXED}" -type f`
do
  NEWNAME=`echo "${x}" | sed "s/${OLD}/${NEW_FIXED}/"`
  echo "Moving ${x} to ${NEWNAME}"
done

Moving /vmware/VMs/Test1/Red to /vmware/VMs/Test1/Red
Moving Hat to Hat
Moving Enterprise to Enterprise
Moving Linux to Linux
Moving 4-f001.vmdk to 4-f001.vmdk
Moving /vmware/VMs/Test1/Red to /vmware/VMs/Test1/Red
Moving Hat to Hat
Moving Enterprise to Enterprise
Moving Linux to Linux
Moving 4.vmx to 4.vmx
Moving /vmware/VMs/Test1/vmware-1.log to /vmware/VMs/Test1/vmware-1.log
Moving /vmware/VMs/Test1/Red to /vmware/VMs/Test1/Red
Moving Hat to Hat
Moving Enterprise to Enterprise
Moving Linux to Linux
Moving 4-f002.vmdk to 4-f002.vmdk