From Albert Breer of the NFL Network and NFL.com:

The NFL and players resumed what were described as "very serious talks" on Tuesday, according to sources, in an attempt to build off last week's secret negotiations in suburban Chicago, and work toward a resolution to end the three-month-old lockout.

The exact location of this set of talks remains unknown, though NFL Network insider Jason La Canfora reports they are taking place in the New York area.

ESPN subsequently reported about the meeting's participants:

Commissioner Roger Goodell, NFL Players Association head DeMaurice Smith and select owners and players were present at the meeting Tuesday, a source familiar with the talks said.

Chief Magistrate Judge Arthur Boylan was also in attendance, according to the source.

This is excellent news.

The 8th Circuit Court told both sides their feelings would "not be hurt" if they settled this matter on their own. That's exactly what both sides are trying to ensure happens, as they were also told that if they waited for the court's ruling, neither side would like the result.

This is still precarious and will take some time to play out, but things are certainly headed in the right direction.