As Schwartz takes over from McNealy, insiders are saying that Sun is considering open sourcing Java in time for the JavaOne conference in May. Schwartz led the open sourcing of Solaris, and he could be considering the same for Java. "According to sources inside Sun, an ongoing debate over whether to open-source Java is coming to a head with the JavaOne conference looming May 16." (eWeek)
Peter Yared (previously Sun's CTO of Liberty Network Identity initiative and CTO of Sun's App Server Division) has been publicly calling for Sun to open source Java and take other actions related to open source. At this point, we can only speculate on what Sun will do. I personally think that Sun should open source Java; however, we will just have to wait and see what happens.