Preparation: Sprinkle both sides of the beef slices generously with salt and pepper. Heat a large heavy dutch oven over high heat until very hot. Add butter and olive oil and brown meat quickly on both sides. Remove beef and set aside.
Add sliced onions to the drippings. Lower heat and sweat onions until soft and lightly browned, stirring often. Add flour to onions. Cook, stirring constantly, until the flour is lightly browned.
Add beer to onion and flour roux, stirring until thickened. Add thyme and bay leaf. Return beef to the pot and cover pot. Cook over low heat about 2-1/2 hours, until beef is tender. Check often to be sure the beef is covered in liquid, adding more beer or water if necessary.
Serve with buttered noodles or rice.
Yield: 6 to 8 servings