This is just speculation but it could mean one of two things (or both):
1. it is an attempt to hold onto power by calming any fears within the armed forces, that Mubarak would name his son as his eventual successor.
2. it is his face-saving attempt to ease his way out of power within a matter of months in an orderly way.
I'm worried. President Hosni Mubarak may have been a thug but he is our thug. One that supported the Middle East Peace Process. One that supported the embargo on the Hamas-run Gaza Strip, and one that vociferously supported the war against Islamist terrorists.
We really can't do anything. The Egyptian military isn't putting the rebellion down, which raises the question of whether Mubarak will survive or not. Will he be replaced by another army thug that can restore order and preserve the balance of power in the Middle East? Will he be replaced by a genuinely pro-Western social Democrat or will he be replaced by a coalition that includes the Muslim Brotherhood?