(function($) {

    $.fn.newsScroll = function(options) {

        return this.each(function() {

            var
              $this = $(this),

              defaults = {
                speed: 400,
                delay: 3000,
                list_item_height: $this.children('li').outerHeight()
             },

              settings = $.extend({}, defaults, options);

          setInterval(function() {
                $this.children('li:first')
                        .animate({
                            marginTop : '-' + settings.list_item_height,
                           opacity: 'hide' },

                           settings.speed,

                           function() {
                                $this
                                  .children('li:first')
                                  .appendTo($this)
                                  .css('marginTop', 0)
                                  .fadeIn(300);
                          }
                      ); // end animate
          }, settings.delay); // end setInterval
        });
    }

    })(jQuery);