Just to complete the other answers, I would like to quote Effective Java, 2nd Edition, by Joshua Bloch, chapter 10, Item 68 :
"Choosing the executor service for a particular application can be tricky. If you’re writing a small program, or a lightly loaded server, using Executors.new- CachedThreadPool is generally a good choice, as it demands no configuration and generally “does the right thing.” But a cached thread pool is not a good choice for a heavily loaded production server!
In a cached thread pool, submitted tasks are not queued but immediately handed off to a thread for execution. If no threads are available, a new one is created. If a server is so heavily loaded that all of its CPUs are fully utilized, and more tasks arrive, more threads will be created, which will only make matters worse.
Therefore, in a heavily loaded production server, you are much better off using Executors.newFixedThreadPool, which gives you a pool with a fixed number of threads, or using the ThreadPoolExecutor class directly, for maximum control."