Whatever Happened To The "Diamond Railway"?

There was a rather lengthy article in an issue of Railpace from 1998 that discussed a proposed takeover of all Philadelphia-Harrisburg service from Amtrak, re-branded as the "Diamond Railway". Some of the items included:

-Refurbishment of 40 ex-NJT Arrow IIs.
-A new station @ Leaman Place Jct. for connections with the Strasburg Rail Road.

Did this proposal ever hold any real water or was it simply poor journalism? I can't find any info on it online and I don't have the copy of the mag anymore so I'm more or less going on what I remember reading as an 8-year old

That's the one part of Amtrak that actually turns a profit, so I suspect it was just someone blowing smoke.