Yosemite: loading bar under apple logo on start up

Okay, iMac was running just fine. I updated to yosemite from mavericks and now I get a loading bar under the apple logo every time I restart or start up cold. Is this a new thing or is there a way to fix this? I already repaired disk and permissions. I was going to reinstall but the darn thing won't recognize the time machine either..

Any help is appreciated.