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Go Wack!

...from http://biz.yahoo.com/prnews/97/07/22/whc_1.html
PALM BEACH GARDENS, Fla., July 22 /PRNewswire/ -- Wackenhut Corrections
(NYSE:WHC) was notified by the U.S. Department of Justice, Federal Bureau
of Prisons (BOP) that it has been selected to manage the Taft Correctional
Institution, a 2,048-bed minimum security prison in Taft, California, after
a competitive bidding process which was just completed. 

Revenues for the three-year initial term of the fixed-price contract plus
its potential for seven option years are expected to total approximately
$300 million, not including award fees. Construction of the facility is
already completed, and the company anticipates a phase-in of prisoners in
December, 1997.

WHC is up 3 1/8 or almost 13% as I type this....