(function($) {
	var opts, ticker, main_ul, arr_li, cnt_li, curr_li;

	$.fn.fancyNews = function(settings) {
		$.fn.fancyNews.tick = function() {
			$(arr_li).eq(curr_li).animate({'top': '-50px'}, { queue: false, duration: opts.speed ,  complete: function() {
				$(this).css('top', '50px');
			}});
			
			curr_li = (curr_li + 1) % cnt_li;
			
			$(arr_li).eq(curr_li).animate({'top': '0px'}, { queue: false, duration: opts.speed / 1.5 });
		};

		return this.each(function() {
			opts = $.extend({}, $.fn.fancyNews.defaults, settings)

			main_ul	= $(this).find('ul:first');
			arr_li	= $(main_ul).find('li');
			cnt_li	= arr_li.length;
			
			$(arr_li).eq(0).css('top', '0px');
			
			curr_li = 0;
			
			ticker = setInterval($.fn.fancyNews.tick, opts.interval);
			
			$(main_ul).hover(function() {
				clearInterval(ticker);
			}, function() {
				ticker = setInterval($.fn.fancyNews.tick, opts.interval);
			});
		});
	};

	$.fn.fancyNews.defaults = {
		interval:	4000,
		speed:		800,
		height:		22
	};
})(jQuery);