Preheat oven to 325
On medium heat brown bacon in dutch oven. Remove once cooked and set aside.
Season short ribs in 1 1/2 teaspoons of salt and flour. Brown the ribs in the bacon fat on all sides until dark golden brown.
Remove short ribs and set with cooked bacon crumbles. Sautee onions, garlic, mushrooms and carrots in the dutch oven for several minutes.
Deglaze the pan with red wine and cognac, simmer for one minute, then add beef broth
Stir in tomato paste, fresh thyme, the remaining 1 1/2 teaspoon salt and pepper
Add the short ribs and bacon to the boozy veggie mixture. Cover and place in the oven.
Cook in the oven for 4-5 hours, until the meat is tender. Turning the meat occasionally and making sure that the sauce doesn't dry out. If the sauce needs more liquid add more broth or hot water.
Once the short ribs are nice and tender, serve!