$j = jQuery.noConflict();

var newsElementId = 'news';
var fadeSpeed = 3000;

function newsFader(pos) {
    list = ['#', newsElementId, '>li'].join('');
    itm = ['#', newsElementId, '>li:eq(', pos, ')'].join('');

    if($j(list).length > 1) {
        $j(itm).fadeIn(fadeSpeed, function () {
            $j(itm).fadeOut(fadeSpeed, function () {
                if(pos < $j(list).length - 1) {
                    pos++;
                }
                else {
                    pos = 0;
                }
                newsFader(pos);
            });  //fadeOut
        }); //fadeIn
    }
    else if($(list).length == 1) {
        $j(list).get(0).style.display = "block";
    }
}

$j(document).ready(function () {
    var list = ['#', newsElementId, '>li'].join('');
    $j(list).hide();
    newsFader(0);
});