Step 1: Place a large heavy bottom sauce pan over medium heat.
Step 2: Add the olive oil and butter, and stir until butter is melted.
Step 3: Add the sliced onions all at once. Stir to coat the onions in the fat. Allow onions to cook, undisturbed, for about 4 minutes.
Step 4: Add salt, pepper and thyme and stir. Allow the onions to cook for about 4 minutes at a time. Lower the heat if the onions are browning too quickly. The onions will begin to brown, break down, and resemble an onion jam.
Step 5: When onions are entirely browned and completely soft (about 15 minutes), add the water and chicken broth to the pan.
Step 6: Using a wooden spoon, scrape any burned bits off the bottom of the pan. Add the pasta all at once.
Step 7: Return to medium heat, and bring to a simmer. Place the lid on the pan, and allow to simmer for 5 minutes.
Step 8: Remove the lid to toss and stir the pasta, for about 3 minutes.
Step 9: Return the lid, and allow to cook for another 5 minutes.
Step 10: Remove the lid and taste the pasta for doneness.
Step 11: There will still be just under an inch of liquid in the pot. Allow the pasta to cook more (if it was still crunchy), or allow some of the liquid to cook off. It's about your preference. I like a bit of the broth remaining. Plus, the pasta will absorb more of the liquid as it sits.
Step 12: To serve, spoon into large bowls, top with Parmesan cheese and fresh arugula.
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