Beef Bourguignon

1. Preheat oven to 325°F. Saute bacon in heavy large Dutch oven over high heat until brown and crisp, about eight minutes. Using slotted spoon, transfer bacon to paper towels.

2. Season beef generously with salt and pepper. Coat with flour. Working in three batches brown beef in same pot over high heat, about five minutes per batch.

3. Transfer meat to large bowl. Add onions and mushrooms to same pot and saute until light brown, about six minutes. Add garlic and saute one minute. Transfer vegetables to bowl with beef.

4. Add 1 cup broth and cognac to pot. Simmer until reduced to glaze, scraping up browned bits, about eight minutes. Return meat, vegetables and their liquids to pot.

5. Add wine, thyme, sugar, tomato paste and 2 cups broth. Bring to a boil, stirring occasionally. Cover pot and place in over. Cool until beef is tender, about one hour and 20 minutes.

6. Ladle liquid from stew into large saucepan. Spoon off fat. Boil liquid until reduced to 2 ¾ cups, about 40 minutes. Season with salt and pepper. Pour liquid back over beef and vegetables.