As I noted over at
Fallen Flags Discussion, there was 1980 "talk" of a proposal that found its way into the Chicago Tribune whereby Japanese maritime interests considered a purchase of MILW Road Lines West from the Bankrupt's Estate. This would have enabled the maritime companies to have railroad transportation available to meet their requirements and of course provide a competitive E-W routing the lack of which I believe has been a factor in making the Port of Seattle a backwater when compared with Ports of LA/LB (Yes, UP makes E-W rates out of the Pacific NW but their routing is "circuitous' to say the least).
Now what I think could have been EL's "shot in the arm' would have been if European maritime interests could have made a bid to the Estate to acquire the ERIE, save the DL&W commuter lines where the public ownership initiative was clearly on the table. Yes 997 miles Hob-ERIE-Chi is circuitous when compared with 960 (NYC) or 907 (PRR), but again it would be a railroad under the control of the maritime interests. With 96 hours (reasonable and doable) "docking to sailing" time Seattle to New York, the forgotten "land-bridge' concept of trans-loading containers for rail shipment would be a meaningful part of railroad traffic today. Reliable service would mean that Longshoremen would be 'ready to rumble' when a train arrived. Maritime companies would no longer be compelled to route Asian-European trade 'round the Cape' (OK; check to see who has their pop guns out at who then chance a Suez Canal routing) . The Panama Canal would primarily play host to cruise ships and there would be no talk of developing Mexican ports - all of which is costly and rife with political uncertainty.
But alas, during 1980, there was much anti-Japanese sentiment, and the proposal went no further than the newspaper article.
But as this topic discussion notes, the overseers at USRA and elsewhere simply had mindset "the ERIE's gotta go'. Review my other thoughts at the linked topic and you will note the same sentiment was prevalent at the MILW.