MARTHA STEWART'S BEEF BOURGUIGNON

Steps:

• In a 6-8 quart saucepan with tightly fitted lid, cook bacon uncovered over medium-low heat, until browned, 10-15 minutes. With slotted spoon transfer bacon to paper towel to drain. Set aside. Reserve bacon fat.
• Season beef generously with salt and pepper. In large bowl, dredge beef in flour, shaking off the excess. Raise heat to medium. Working in 2 batches, brown beef in bacon fat on all sides, without crowding, about 10 minutes per batch. Transfer each batch to a bowl.
• Pour water into pan and bring to boil. Cook, stirring to loosen browned bits, until liquid has reduced to a few tablespons, about 2-3 minutes.
• Add onions and garlic; cook, stirring, until sightly softened, 3 minutes. Add tomato paste and cook one minute.
• Add carrots, meat with juices, wine, thyme and reserved bacon. Bring to a boil. Reduce heat, cover and simmer over low heat, stirring occasionally, until meat is tender but not falling apart, about 3 to 3 1/2 hours.
• Skim fat off surface of stew and discard. Serve or refrigerate covered, overnight.