I had this problem, and found out that the reason is that the v7 3.10 kernel no longer supports the Ethernet Controller device:
$ lspci -k ... 02:01.0 Ethernet controller: Advanced Micro Devices [AMD] 79c970 [PCnet32 LANCE] (rev 10) Subsystem: Advanced Micro Devices [AMD] 79c970 [PCnet32 LANCE] ...
So, using what I found at https://access.redhat.com/discussions/722093
I added the following line to my .vmx file:
ethernet0.virtualDev = "e1000"
And it works 🙂