First version of FileWatcher

FileWatcher.java

import java.io.BufferedReader;
import java.io.File;
import java.io.FileNotFoundException;
import java.io.FileReader;
import java.io.IOException;
import java.nio.file.Files;
import java.nio.file.Path;
import java.nio.file.Paths;
import java.util.ArrayList;
import java.util.Iterator;
import java.util.List;

import rx.Observable;
import rx.Observable.OnSubscribeFunc;
import rx.Observer;
import rx.Subscription;
import rx.util.functions.Action1;


public class FileWatcher implements OnSubscribeFunc<String> {
    public static void main(String... args) {
        if (args.length == 0) {
            System.out.println("No files specified.");
            return;
        }
        
        for (final String file : args) {
            System.out.println(">> Adding watcher for file \"" + file + "\"...");
            
            try {
                Observable<String> newObservable = Observable.create(create(file));
                newObservable.subscribe(new Action1<String>() {
                    @Override
                    public void call(String t1) {
                        System.out.printf("%20s\t%s\n", file, t1);
                    }
                });
            } catch (FileNotFoundException e) {
                System.out.println(">> ERROR: File \"" + file + "\" was not found.");
            }
        }
    }
    
    private final Path path;
    
    public static FileWatcher create(String sPath) throws FileNotFoundException {
        Path path = Paths.get(sPath);
        if (!Files.isReadable(path))
            throw new FileNotFoundException(sPath);
        
        return new FileWatcher(path);
    }
    
    private FileWatcher(Path path) {
        this.path = path;
    }
    
    @Override
    public Subscription onSubscribe(Observer<? super String> observer) {
        try (BufferedReader reader = new BufferedReader(new FileReader(path.toFile()))) {
            String newLine = "";
            while ((newLine = reader.readLine()) != null)
                observer.onNext(newLine);    
        } catch (FileNotFoundException e) {
            observer.onNext(">> ERROR: File could not be found.\n" + e);
            observer.onError(e);
        } catch (IOException e) {
            observer.onNext(">> ERROR: File could not be read.\n" + e);
            observer.onError(e);
        }
        
        return null;
    }
}