Bash: Convert folders recursively to git repos

gistfile1.sh

#!/bin/bash
# Convert folders recursively to git repos
# Run it in the folder that holds all your project folders

for i in $( ls -d */ ); do
    string=$i
    length=${#string}
    project=${string:0:$length-1}
    cd $project
    junkdel # Special script to delete all junk files
    git init
    git add .
    git commit -m "Initial commit"
    git clone --bare -l .git ../$project.git
    cd ..
    cd $project.git
    touch git-daemon-export-ok
    touch GITWEB_EXPORT_OK
    echo $project > description
    git --bare update-server-info
    chmod a+x hooks/post-update
    git gc
    cd ..
done