MAHOGANY BEEF STEW WITH RED WINE AND HOISIN SAUCE

Borrowed wholesale from epicurious.com. Consider adding more carrots, because everyone wants them, and also increasing the cooking time until the beef is tender. This is fabulous when served with Horseradish Mased Potatoes

4 tablespoons olive oil
3 1/2 pounds boneless beef chuck roast, trimmed, cut into 2 1/2-inch pieces
3 1/2 cups chopped onions
2 cups Cabernet Sauvignon
1 14.5-ounce can diced tomatoes with Italian herbs, undrained
1/2 cup hoisin sauce*
2 bay leaves
1 pound slender carrots, peeled, cut diagonally into 1-inch lengths
1 tablespoon cornstarch mixed with 1 tablespoon water
2 tablespoons chopped fresh parsley
Heat 2 tablespoons oil in heavy large pot over high heat. Sprinkle meat with saltand pepper. Add meat to pot; sauté until brown on all sides, about 10 minutes. Push meat to sides ofpot. Reduce heat to medium; add 2 tablespoons oil to pot. Add onions; sauté until golden brown, about15 minutes. Mix meat into onions. Add 1 cup wine, tomatoes with juices, hoisin sauce, and bay leaves.Bring to boil.
Reduce heat to low, cover pot and simmer 45 minutes, stirring occasionally. Addcarrots and 1 cup wine. Cover; simmer 30 minutes, stirring occasionally. Uncover, increase heat to high;boil until sauce is slightly thickened, stirring occasionally, about 15 minutes longer. Reduce heatto medium, add cornstarch mixture and simmer until sauce thickens, stirring occasionally, about8 minutes. Discard bay leaves. Season stew with salt and pepper. (Can be made 1 day ahead. Cool slightly.Chill uncovered until cold, then cover and keep refrigerated. Bring to simmer before serving, stirringoccasionally.) Transfer stew to large bowl. Sprinkle with parsley; serve.
* Available at Asian markets and in the Asian foods section of some supermarkets.