acronym.py

#!/usr/bin/env python

import sys

last = ''
punc = ','

while True:
    c = sys.stdin.read(1)
    if c:
        if c in punc or c.isalpha() and not last.isalpha() and last not in ('\'',):
            sys.stdout.write(c.upper())
        last = c
    else:
        sys.stdout.write('\n')
        break