Sprinkle ribs with 1/2 teaspoon each salt and pepper. In a large skillet, heat oil over medium heat. In batches, brown ribs on all sides; transfer to a 4- or 5-qt. slow cooker. Add carrots, broth, thyme and bay leaf to ribs.
Add onions to the same skillet; cook and stir over medium heat 8-9 minutes or until tender. Add garlic and tomato paste; cook and stir 1 minute longer. Stir in wine. Bring to a boil; cook 8-10 minutes or until liquid is reduced by half. Add to slow cooker. Cook, covered, on low 6-8 hours or until meat is tender.
Remove ribs and vegetables; keep warm. Transfer cooking juices to a small saucepan; skim fat. Discard thyme and bay leaf. Bring juices to a boil. In a small bowl, mix cornstarch and water until smooth; stir into cooking juices. Return to a boil; cook and stir 1-2 minutes or until thickened. Season with salt and pepper to taste. Serve with ribs and vegetables. Yield: 6 servings.