Mad Mike's Chili

5 pounds Round steak -- cubed

2 large Onions -- chopped

4 large Carrots -- shredded

46 ounces V-8 juice

6 ounces Tomato paste

28 ounces Tomatoes -- whole peeled

1 can Beef broth

2 cans Enchilada sauce -- mild

10 Bay leaves

4 tablespoons Brown sugar

2 1/2 ounces Chili powder

3 tablespoons Cumin

2 teaspoons Cayenne pepper

1 tablespoon Oregano

Dice the meat into 1/2 inch cubes, cutting across the grain. In a 3 gallon pot, saute the onions in some olive oil until they are soft. Add the meat and continue cooking until meat is grayish brown, about 20 minutes. Mix in all the other ingredients, bring to a boil and simmer for 3 hours.