Posted by GourmetGal

2 tablespoons butter
4 tablespoons olive oil
1 medium onion, finely chopped
2 tablespoons pancetta or unsmoked bacon, finely
    chopped (bacon is a lot cheaper!)
1 carrot, finely sliced
1 stalk celery, finely sliced
1 clove garlic, finely chopped
12 ounces lean ground beef
Salt and freshly ground black pepper
2/3 cup red wine
1/2 cup milk
1 (4 ounce) can plum tomatoes, chopped
    with their juice
1 bay leaf
1/4 teaspoon fresh thyme leaves

Heat butter and oil in pan and add onion. Cook over moderate heat for 3-4 minutes. Add pancetta or bacon and cook until the onion is translucent. Stir in carrot, celery and garlic and cook 3-4 minutes longer. Add beef and crumbling it into the vegetables with a fork. Stir until meat loses its red color and season with salt and pepper. Pour in the wine, raise heat slightly and cook until the liquid evaporates, 3-4 minutes. Add the milk, and cook until it evaporates. Stir in the tomatoes with their juice, and the herbs. Bring the sauce to a boil. Reduce the heat to low, and simmer, uncovered for 1 1/2 to 2 hours, stirring occasionally. Correct the seasonings before serving.

Good for about 6 servings of pasta.