IDE Rev 1.8.2 compile problems

I am on Windows 7 Professional 64 bit and am trying to connect the IDE to my
Adafruit Metro board (or any Arduino for that matter)

When I try to verify any sketch I get the following error:

processing.app.debug.RunnerException
at cc.arduino.Compiler.callArduinoBuilder(Compiler.java:316)
at cc.arduino.Compiler.loadPreferences(Compiler.java:215)
at cc.arduino.Compiler.build(Compiler.java:174)
at processing.app.SketchController.build(SketchController.java:647)
at processing.app.Editor$BuildHandler.run(Editor.java:1738)
at java.lang.Thread.run(Thread.java:745)
Caused by: java.io.IOException: Cannot run program "C:\Program Files (x86)\Arduino\arduino-builder": CreateProcess error=2, The system cannot find the file specified
at java.lang.ProcessBuilder.start(ProcessBuilder.java:1048)
at processing.app.helpers.ProcessUtils.exec(ProcessUtils.java:26)
at cc.arduino.Compiler.callArduinoBuilder(Compiler.java:296)
... 5 more
Caused by: java.io.IOException: CreateProcess error=2, The system cannot find the file specified
at java.lang.ProcessImpl.create(Native Method)
at java.lang.ProcessImpl.(ProcessImpl.java:386)
at java.lang.ProcessImpl.start(ProcessImpl.java:137)
at java.lang.ProcessBuilder.start(ProcessBuilder.java:1029)
... 7 more

Needless to say, I can't upload the sketch if I can't compile it.

I have used the IDE in the past without incident - what has changed and how do I fix it?

Thanks,
David W - Arlington VA

Does the file C:\Program Files (x86)\Arduino\arduino-builder.exe exist on your computer?