for the "nightly business report," i'm steve leishman in walk. >>> the auto maker is not firing on allylinders, green light capital david einhorn is now calling on gm to split its stocks into two classes. he wants one class to receive gm's current dividends and another to be more growth oriented. in a phone interview earlier today, mr. einhorn explained his plan. >> i would compare it to an ice cream stand, that just serves chocolate and vanilla swirl ice cream. if you gave investors more choice, some people like chocolate. some like vanilla, some like swirl. if you have to implement in our policy, you would wind up with one share each. so if you like the swirl that you have today, you could keep the swirl. if you would like to have more dividends, you could sell the capital appreciation sales. if you like just the capital appreciation the lone multiple, then you could sell the dividend shares and buy the capital depreciation shares. >> general motors is not buying the chocolate, vanilla or the swirl. they say it creates unacceptable risk. it is not in the shares, of gm up 2.5% today.

the group that i think is going to explode because you need to have fed rate guys tell -- call steve leishman on cnbc, we'll have three rate hikes. they love to talk, have you noticed? >> they talk a lot this week. >> they should have gone into espn. you can talk all the time. 3:00 show. they should have their own channel. >> you have the fed -- >> fed network. >> you're telling me the banks can't do anything unless the rates go up? >> that's all that matters. i wish i said it wasn't, but that's all that matters. >> doesn't that matter to the overall market with where -- if the banks -- >> no, it does. i care about the banks and the transports. transports had a good day yesterday. i care about banks, transports, ten year, oil. because that's what the gri algorithms care about. you need the stocks to come down a little more into the quarter. or else there will be some profit taking. >> i'm surprised how negative o'leary was on some of the banks even the other day. >> he's been negative the whole day. i don't want to get into it -- a tiff with him. but he's been a little negative. >> i was tryi

steve leishman is here to tell us what the fed member had to say. >> i think mike is making a great pointials and the markets doing what they did and erik rosen gls gre rosengren saying a total of three hike sincere what we should have. here is what he said in boston. >> i think it is appropriate given where we are right now that the pace we should be thinking about is not keeping things constant. the pace we should be thinking about is roughly every other meeting being appropriate to raise rates unless economic data come in either stronger or much weaker than what our forecast is. >> so here is what the january fed funds looks like here. we're trading about 128 right now, off a little bit, but part of the way to that 137 which would be justine the third hike. rosengren is talking about a fourth one. he was not the only hawkish speed today. john williams, san francisco fed president, said he does not rule out more than three hikes in 2017 or two more. charlie evans, the chicago fed president, said fiscal policies could mean more rate hikes, but stan fisher, maybe he is ruling the day here