Good news is hard to come by in the world of professional orchestras these days, but a huge sigh of relief could be heard coming from Louisville this weekend, as the Louisville Orchestra not only reversed its earlier position that bankruptcy was its only option, but approved a new three-year contract with its musicians. The contract is hardly a windfall for the players – it includes short-term wage cuts on already miniscule salaries, and trims weeks from the orchestra’s season – but with other troubled orchestras folding right and left, everyone seems to be at least satisfied with the result. As a direct result of reaching agreement on the contract, the orchestra will receive a much-needed $465,000 gift from a local developer who had been backing the musicians.