var speed = 1200;
var interval = 1200;
var count = 8;
var i = 0;

$().ready(function() {
  for(i = 1; i <= count; i++){
    setTimeout( 'init_fade('+i+')', i*(speed+interval));
  }
});
function init_fade(index){
  $('#slideshow'+index+' li.slidelast').fadeOut(speed);
  $('#slideshow'+index+' li.slide1').fadeIn(speed);
  setTimeout( 'init_slideshow('+index+')', speed);
}

function init_slideshow(index){
  $('#slideshow'+index).innerfade({ 
      speed: speed, 
      timeout: count*(speed+interval), 
      containerheight: '132px' ,
      type: 'sequence'
  });
}