Bistro Beef Stew

strips bacon, cut into small pieces, or 4 ounces cubed pancetta

cubed stew meat (or ask the butcher to cut a 3-pound beef rump into stew-size chunks)

large carrots, peeled and cut crosswise into large chunks (may substitute 8 peeled baby carrots)

medium onion, cut into thin slices

medium cloves garlic, minced

mushrooms, stemmed and cut into 1/4-inch slices (may substitute 8-ounce package sliced mushrooms)

salt

freshly ground black pepper

dried thyme leaves

flour

low-sodium beef broth (may use one 10-ounce can)

red wine, such as cabernet sauvignon

heaping tablespoons tomato paste

bay leaf