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1
Preheat oven to 325F.
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2
Saute bacon in heavy large Dutch oven over high heat until brown and crisp, about 8 minutes.
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3
Using slotted spoon, transfer bacon to paper towels.
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4
Season beef generously with salt and pepper; coat with 1/3 cup flour, using all of flour.
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5
Working in 3 batches, brown beef in same pot over high heat, about 5 minutes per batch.
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6
Transfer meat to large bowl.
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7
Add onions and carrots to same pot and saute until light brown, about 6 minutes.
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8
Add garlic and saute 1 minute.
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9
Transfer vegetables to bowl with beef.
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10
Add 1 cup broth and Cognac to pot; boil until reduced to glaze, scraping up browned bits, about 8 minutes.
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11
Return meat and vegetables and their juices to pot.
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12
Add wine, mushrooms, thyme, sugar, tomato paste and 2 cups broth.
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13
Bring to boil, stirring occasionally.
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14
Cover pot and place in oven.
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15
Cook until beef is tender, about 1 hour 20 minutes.
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16
Ladle liquid from stew into large saucepan.
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17
Spoon off fat.
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18
Boil liquid until reduced to 2 3/4 cups, about 40 minutes.
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19
Season with salt and pepper.
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20
Pour liquid back over beef and vegetables.
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21
(Can be prepared 1 day ahead.
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22
Cover and chill.)
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23
Rewarm over low heat before serving.
